As the year 2023 begins, Ad World Masters is proud to announce its Agencies of the Year. Our rigorous selection process, which assesses the potential value of each agency, has resulted in the recognition of some of the most outstanding and accomplished agencies in the industry.
The selection process is based on the Agency Score, which is calculated using our proprietary Artificial Intelligence Algorithms. Agencies had until December 31st, 2021 to improve their score and compete for the coveted title of Agency of the Year.
The title of Agency of the Year is granted based on the Agency Score and is divided into three levels of recognition: Gold, Silver and Bronze. Gold is awarded to agencies with scores of 9.2 or higher, Silver is awarded to agencies with scores of 8.7 or higher, and Bronze is awarded to agencies with scores of 8.5 or higher. Each awarded agency will receive a digital badge of “Agency of the Year” for the level they are in.
The results of the competition are categorized by country, depending on the agency’s main location. In India, the Ad World Masters Agencies of the Year competition features 6 Gold, 78 Silver, and 53 Bronze winners. These agencies represent the very best in the industry and are a testament to the creativity, innovation, and excellence that define the advertising field.
We would like to extend our heartfelt congratulations to all of the winners and thank all of the participating agencies for their dedication and hard work. We look forward to seeing the impact of their work in the coming year and beyond.
Curious to discover the results of other markets? Explore the results per country and learn more about the competition. If you don’t see your agency listed, sign up, list or claim your agency and you could be nominated for next year!
Insights into the advertising industry in India
The advertising market in India is one of the fastest-growing in the world, valued at over $8 billion in 2020, and projected to grow at a CAGR of 12.5% from 2021 to 2028. The digital advertising market is a significant segment of the Indian advertising market, valued at $3.6 billion in 2020, and projected to grow at a CAGR of 19.3% from 2021 to 2028.
According to IAMAI, digital advertising accounted for over 30% of total ad spend in India in 2020, with the e-commerce sector being the most active in terms of digital ad spending. Search and social media are the most popular forms of digital advertising in India, with Google and Facebook being the main players in the search and social media advertising markets, respectively. Mobile advertising also saw significant growth, accounting for over 60% of digital ad spend in 2020.
The e-commerce market in India is also significant, valued at $38 billion in 2020, and projected to reach $200 billion by 2026. The market has been driven by the increasing popularity of online shopping and the growth of mobile commerce. Flipkart and Amazon are the leading players in the Indian e-commerce market, followed by Myntra and Snapdeal.
The leading advertising agencies in India include WPP, Omnicom Group, and Publicis Groupe. These agencies specialize in various forms of advertising, such as digital, television, and print. The media landscape in India is dominated by television, with the major networks being Zee, Sony, Colors, and Star. The newspaper market is also significant, with The Times of India and The Hindustan Times being among the most widely read.
According to a report by the Advertising Standards Council of India (ASCI), the top advertising categories in India are FMCG, Auto, and Telecom. The Indian market is also characterized by the high number of Small and Medium-sized Enterprises (SMEs) that are active in the advertising space. The Advertising industry in India is also witnessing a shift towards digital and data-driven advertising.
Overall, the advertising market in India is highly dynamic and offers a wide range of opportunities for companies looking to expand their reach, with a growing focus on digital and e-commerce advertising.