The global outdoor advertising market reached a value of US$ 33.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 52.3 Billion by 2027, exhibiting a CAGR of 7.5% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Outdoor advertising, also known as out-of-home (OOH) advertising, is used by enterprises to promote products or services and spread business-related information among the masses. It can be placed inside and outside trains and taxis, on billboards and posters, and at bus shelters, shopping centers, airports, kiosks, and sports stadiums. It provides a cost-efficient and long-lasting solution with wide coverage compared to other forms of advertising. As a result, organizations worldwide are relying on outdoor advertising with other media platforms to expand their audience reach and improve brand value and recall rate.
Outdoor Advertising Market Trends:
The rising internet penetration, rapid digitization, and the increasing focus on targeted marketing are among the key factors strengthening the growth of the market across the globe. This can also be accredited to expanding retail facilities, coupled with the growing number of people spending time outdoors. Moreover, the rising use of point of sale (POS) campaigns by brands or marketers to promote limited or special edition and discounted products and create impulse purchases is driving the market. Apart from this, with expanding businesses globally, vehicle or transit advertising is gaining immense traction as an on-the-go advertisement with printed graphics to capitalize on an area of high traffic and generate brand awareness. Furthermore, with increasing construction activities of homes and commercial buildings, hoardings and scaffold banners are widely utilized in outdoor advertising to keep the workers safe and promote the available spaces for rent. Besides this, the integration of advanced technologies, such as near field communication (NFC) and artificial intelligence (AI), which generate real-time viewership analytics, is anticipated to present key players with lucrative growth opportunities.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global outdoor advertising market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type and segment.
Breakup by Type:
- Traditional Outdoor Advertising
- Digital Outdoor Advertising
Breakup by Segment:
- Billboard Advertising
- Transport Advertising
- Street Furniture Advertising
Billboard advertising represents the largest segment as it requires minimal effort and offers a high rate of investment (ROI).
Breakup by Region:
- South Korea
- New Zealand
- United Kingdom
- Saudi Arabia
- South Africa
Asia holds the majority of the market share on account of the increasing number of commercial spaces in the region.
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry.
|Base Year of the Analysis
| Historical Period
||Type, Segment, Region
|| Asia, Australasia, Europe, Latin America, Middle East and Africa
||China, Japan, India, South Korea, Australia, New Zealand, Germany, France, United Kingdom, Italy, Spain, Russia, Brazil, Mexico, Saudi Arabia, UAE, Egypt, South Africa
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