One of the oldest forms of promotion, outdoor or out-of-home (OOH) advertisement is employed by advertisers to promote their products and services in public spaces. The advertisements can be placed on billboards and posters; in bus shelters, airports, shopping centres, kiosks and stadiums; inside and outside buses, trains and taxis. Outdoor advertising represents a cost-efficient and long-lasting form of advertisement with wide coverage. Moreover, consumers are constantly exposed to outdoor advertisements as they are posted in frequently visited open spaces. As a result, organisations employ outdoor advertising in combination with other media platforms in order to expand their reach and increase the recall value of their advertisements. According to IMARC Group’s latest report, titled, “Global Outdoor Advertising Market Report & Forecast 2019-2024”, the global outdoor advertising market reached a value of US$ 41.8 Billion in 2018, exhibiting a CAGR of around 5.3% during 2011-2018.
A number of factors are expected to drive the growth of the global outdoor advertising over the forecast period. Infrastructural development, particularly in the emerging economies, will increase the space which can be used for outdoor advertising. The transport system also represents a profitable means of outdoor advertising as a large number of people use public transport to commute. The modernization of public transport will further drive the growth this market. Other factors include onset of digital outdoor advertising, growth of the retail sector and rising urban population.
On the basis of segments, the report has divided the market into billboard, transport and street furniture advertising. On the basis of type, the market has been divided into traditional and digital advertising. The report has also analysed the industries which actively use outdoor advertisement for promoting their products and services. Region-wise, the report has covered Asia-Pacific, Europe Middle East & Africa, Latin America and North America. The report has also analysed the competitive landscape of the market. Some of the key global players include Storer Media, Clear Channel Outdoor, Lamar Advertising, JCDecaux, etc.
This report provides a deep insight into the global outdoor advertising industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, key market drivers and challenges, recent trends, Porter’s five forces analysis, outdoor advertising pricing models, margins in outdoor advertising, etc. This report is a must-read for entrepreneurs, researchers, consultants, investors, business strategists, and all those who have any kind of stake or are planning to foray into the outdoor advertising industry in any manner.
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