The global digital-out-of-home advertising market exhibited strong growth during 2015-2020. Digital out-of-home (OOH) advertisement refers to a dynamic communication medium displayed on digital signage. These advertisements are generally installed at airports, railway stations, bus shelters, medical waiting rooms, shopping malls, retail stores, movie theatres, and on major roadways. With the growing internet penetration, advertisers are using virtual screens, projectors, motion graphics and video content for targeting specific demographics. This has led to the expansion of digital and internet-based advertising platforms across the globe. As a result, these ads are increasingly being adopted by manufacturers to promote their products in the market.
In recent years, advancements in technology, such as improved IoT connectivity, near field communication, artificial intelligence (AI), and beacons, have encouraged creativity in the DOOH industry. Advertisers can now focus on developing screens that deliver contextually relevant, intelligent and real-time content. With the development of infrastructure and a growing number of shopping complexes and malls, there has been a rise in the number of people who spend time outdoors. As a result, companies are focusing on adopting digital OOH advertising as an advertising platform to help them reach a wider audience. Moreover, the popularity of digital billboards has also been on the rise catalysed by their ability to engage audience effectively. Additionaly, the cost of digital advertisements has also declined over the past few years, increasing their affordability across organisations of all sizes. Looking forward, IMARC Group expects the global digital OOH advertising market to grow at a CAGR of 12.03% during 2021-2026
IMARC Group’s latest report provides a deep insight into the global digital OOH (out-of-home) advertising market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the digital OOH (out-of-home) advertising market in any manner.
IMARC Group provides an analysis of the key trends in each sub-segment of the global digital OOH advertising market report, along with forecasts for growth at the global, regional and country-level from 2021-2026. Our report has categorized the market based on region, format type, application, and end-user.
The report has also analysed the competitive landscape of the market with some of the key players being APG|SGA, Clear Channel Outdoor Holdings Inc., Global Media, JCDecaux, Lamar Advertising Company, oOh!media Limited, Outfront Media Inc., Stroer, etc.
The global digital OOH advertising market reached a value of US$ 41.06 Billion in 2020.
As governments of numerous countries have announced complete lockdowns and are promoting the adoption of social distancing measures to contain the spread of the coronavirus disease (COVID-19), public places and transportation facilities, such as airports, railway stations, buses, shopping malls and movie theatres, have been closed temporarily. This has negatively impacted the growth of the market.
According to the estimates by IMARC Group, the global digital OOH advertising market to reach a value of US$ 50.42 Billion by 2026, exhibiting a CAGR of 3.58% during 2021-2026.
Rapid digitization, along with the increasing preferences for OOH advertising solutions over conventional forms of marketing, represents one of the major factors bolstering the market growth.
The integration of advanced technologies, such as near field communication (NFC) and artificial intelligence (AI), with OOH advertising to generate real-time viewership analytics represents one of the significant trends in the market.
On the basis of the format type, the market has been segmented into digital billboards, video advertising, ambient advertising and others.
Based on the application, the market has been bifurcated into outdoor and indoor segments.
The market has been analyzed on the basis of the end user into the retail, recreation, banking, transportation, education and other sectors.
Region-wise, the market has been divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Leading industry players are Allgemeine Plakatgesellschaft AG, Clear Channel Outdoor Holdings, Inc., Global Media Group, JCDecaux SA, Lamar Advertising Company, oOh! Media Ltd, OUTFRONT Media Inc. and Ströer SE & Co. KGaA.
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