According to a report by media agency Zenith, India will be the fastest-growing market for telecom advertising between 2020 and 2023, with an annual growth rate of 11%.
This is a huge growth rate than telecom advertising worldwide which is predicted to grow at an average rate of 4.5% a year to 2023, according to the Business Intelligence Telecommunications report which was published on Monday.
The telecom category includes services and equipment that make it easier the transmission of voice calls and data over landlines and mobile networks.
According to eMarketer, only 31% of India's population owns a smartphone, but this number is rapidly increasing, thanks to the introduction of low-cost handsets like the Jio phone.
"The telecom industry in India is expected to expand rapidly in 2021 as a result of increased tariff pricing, data demand, a rise in the number of smartphone users, and, potentially, the introduction of 5G in the fourth quarter. This will result in a significant increase in media expenditures by the major players, especially in television and digital media," said Jai Lala, COO, Zenith India.
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