The digital out of home (OOH) advertising market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 11.7% in the forecast period of 2021 to 2028 and is expected to reach USD 109,280.84 million by 2028. Increasing demand for digital display technologies is acting as major factor for the growth of the digital out of home (OOH) advertising market.
The rising trends of consumer interactive advertising has led to the increasing adoption of digital advertising which increases the demand for digital and smart billboards, digital signage and other display forms and acts as a major driver for the digital out of home (OOH) advertising market growth. There is an increasing adoption of mobile/online/broadcast advertisement amongst the advertisers due to increasing usage of smartphones and the pandemic behaviour led low adoption rate of digital out of home (OOH) advertising and acts as a major restraint for the growth of the digital out of home (OOH) advertising market. The integration of IoT solutions enable advertisers to connect with consumers and to provide personalized services due to which there is a rising demand of internet of things and cloud platforms opens a window of opportunity for the digital out of home (OOH) advertising market growth. A dynamic problem that serves as a major challenge for the growth of the industry is the production of equipment sufficient for all environmental conditions in the digital out of home (OOH) advertising.
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The major players covered in the global digital out of home (OOH) advertising market report are JCDecaux SA, Posterscope, OUTFRONT Media Inc., QMS Media Limited, Xtreme Media Pvt. Ltd., Clear Channel Outdoor, LLC, Daktronics, Inc., Ströer SE & Co. KGaA, Global Outdoor Media Limited, APG|SGA, Allgemeine Plakatgesellschaft AG, Talon, oOh!media Limited, Broadsign International, Inc., ADAMS OUTDOOR ADVERTISING, Focus Media Holding Ltd., Lamar Media Corp., LOCAD PTE LTD, Prismview, A Samsung Electronics Company, Sharp NEC Display Solutions and Mvix(USA), Inc. among other domestic and global players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Digital Out of Home (OOH) Advertising Market Scope and Market Size
The digital out of home (OOH) advertising market is segmented on the basis of location, product, application and end user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of location, the digital out of home (OOH) advertising market is segmented into indoor and outdoor. In 2021, outdoor category held larger share in the digital out of home (OOH) advertising market due to factors such as increased flexibility offered by digital screens, improved effectiveness, interactive nature of advertisements, attract user’s attention for a longer duration of time, changes in consumer demands among others.
- On the basis of product, the digital out of home (OOH) advertising market is segmented into digital billboard, digital signage, digital screens and others. In 2021, digital billboard category held larger share as they are more target specific, ongoing technological innovations, providing greater range of interactivity, ability to run multiple digital outdoor advertisements on a single screen and surging focus towards programmatic advertising.
- On the basis of application, the digital out of home (OOH) advertising market is segmented into street furniture, public location based, transit and others. In 2021, transit category held larger share because transit advertising helps brands reach consumers in an effective way, increase foot traffic to a store, improved brand awareness, rapid adoption of digital marketing, ability to reach mass audience and also allows for creative ways to deliver messages.
- On the basis of end user, the digital out of home (OOH) advertising market is segmented into retail, automotive, banking & financial services, insurance (BFSI), food & beverages, healthcare, education, government, public sector and others. In 2021, retail category held larger share due to increasing advertisement expenditures by retail companies, rising focus of retailers toward exposure in promotional campaigns, high growth of online retail companies which persuade consumers to choose the respective retail brand.
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Global Digital Out of Home (OOH) Advertising Market Country Level Analysis
Global digital out of home (OOH) advertising market is analysed and market size information is provided by the country, location, product, application and end user as referenced above.
The countries covered in global digital out of home (OOH) advertising market report are the U.S., Canada, Mexico, Germany, U.K., France, Switzerland, Italy, Spain, Netherlands, Russia, Belgium, Turkey, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Brazil, Argentina, rest of South America, South Africa, UAE, Saudi Arabia, Israel, Egypt and rest of Middle East and Africa.
The U.S. dominates the North America digital out of home (OOH) advertising market owing to the huge presence of the most technologically advanced leaders in the market for providing cutting edge technology for outdoor segment which is contributing to the growth of the country across the region. However, the U.K. is witnessing rapid digitization at outdoor in the Europe digital out of home (OOH) advertising market in advertising industry and technological innovations in display technologies which is contributing to the growth of the country. Increasing adoption of display technologies for outdoor segment is contributing to the growth in China in the Asia-Pacific digital out of home (OOH) advertising market.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
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