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NewswireTODAY - /newswire/ -
New Delhi, Delhi, India, 2013/04/17 - Driven by the booming services sector and the modernization of the transport system, the transit media advertising market in India is expected to grow at a CAGR of 22% during 2013-2016 - IMARCgroup.com.
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IMARC Group, one of the world’s leading research and advisory firms, finds that the total market for transit advertising in India is expected to grow at a CAGR of 22% during 2013-2016. Findings from its latest report entitled “Indian Advertising Market Report & Forecast (2012-2016)” suggests that the total share of transit media in the Indian advertising market is expected to increase from around 33% in 2012 to around 45% by 2016.
According to the report, recent years have witnessed improvements and modernization of the Indian public transport systems such as metro rail, low floor/AC buses, etc. In the coming years, new modes of public transport such as mono rail are also likely to appear in the Indian cities. These developments would lead to the creation of more advertising space. Taking into consideration the amount of time a person spends on travelling everyday in course of his job, business, profession, socializing or entertainment, this medium of advertising is full of growth potential. The central as well as many state governments are planning to either introduce metro rail service or to expand existing networks in various cities in the coming years and these measures are expected to give a big boost to transit advertising.
Apart from the modernization of transport, the booming services sector is also expected to be a major catalyst in driving the growth of the transit media advertising market in India. The services sector currently accounts for a bulk (approx 55%) of the Indian economy. This sector has been growing rapidly and is expected to further expand in the coming years. This would propel growth in the movement of people, both within and between cities and keep on adding to the visibility of transit advertising. It is but natural that advertisers would increasingly prefer this medium of advertising to showcase and highlight their products at airports, bus stops, railway platforms, etc.
IMARC’s new report titled “Indian Advertising Market Report & Forecast: 2012-2016” provides an analytical and statistical insight into the Indian advertising industry along with its various segments and sub-segments. The study that has been undertaken using both desk-based and qualitative primary research has analyzed various aspects and provides a comprehensive understanding of the Indian advertising market. The report can serve as an excellent guide for investors, researchers, consultants, marketing strategists, media planners, advertisers, radio and television broadcasters and all those who are planning to foray into the Indian advertising market in some form or the other.
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