According to the latest report by IMARC Group, titled “Asia Pacific Digital OOH Advertising Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the Asia Pacific digital OOH advertising market reached a value of US$ 8.1 Billion in 2022. Digital out-of-home (OOH) advertising is a dynamic medium for advertising products or communicating information to the general public, in which promotional media is displayed in public places, such as airports, railway stations, bus shelters, shopping malls, and roadways. Apart from this, it can also be installed indoors, such as medical waiting rooms, retail stores, and movie theaters. The interactive nature of this type of advertising helps advertisers reach and engage with more customers. Currently, digital OOH advertising is gaining traction in the Asia Pacific region due to rapid urbanization and the increasing penetration of advanced technology.
Asia Pacific Digital OOH Advertising Market Trends:
The market in the Asia Pacific is driven by the rising demand for digital content and information relevant to travelers, which has led to the widespread need for interactive ads through digital advertisements. This can be attributed to the increasing number of commercial spaces and the rising number of individuals spending their time outdoors. Also, the growing adoption of billboards, virtual screens, projectors, motion graphics, and video content among the key players to target specific demographics is creating a positive market outlook. Besides this, the advent of internet-based advertising platforms, along with high-speed internet penetration, is creating lucrative growth opportunities for market players. Furthermore, continual product innovations focusing on delivering contextually relevant, real-time content are providing an impetus to the market. Some of the other factors creating a positive outlook for the market include the proliferation of smart cities, the growing popularity of digital billboards among the masses, rapid digitization, and extensive research and development (R&D) activities conducted by key players. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 17.9 Billion by 2028, exhibiting a CAGR of 13.07% during 2023-2028.
- Based on the format type, the market has been segmented into digital billboards, video advertising, ambient advertising, and others.
- On the basis of the application, the market has been the market has been divided into outdoor and indoor.
- Based on the end use industry, the market has been categorized into retail, recreation, banking, transportation, education, and others.
- On the geographical front, the market has been segregated into China, Japan, India, South Korea, Australia, Indonesia, and others.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players.
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||China, Japan, India, South Korea, Australia, Indonesia, Others
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