Dublin, May 13, 2022 (GLOBE NEWSWIRE) -- The "Digital OOH - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Digital OOH Market to Reach $24.9 Billion by 2024
Amid the COVID-19 crisis, the global market for Digital OOH is projected to reach US$24.9 Billion by 2024, registering a compounded annual growth rate (CAGR) of 9.9% over the analysis period. United States represents the largest regional market for Digital OOH, accounting for an estimated 32.2% share of the global total.
DOOH advertising offers great opportunities for advertisers to market their products and services using digital billboards, promotions and interactive campaigns without the need to waste paper for printed billboards.
The market is projected to reach US$8.3 Billion by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 13.1% over the analysis period.
Growing commercial display usage in advertising constitutes the chief growth promoting factor for digital OOH market. Technology advancements like enhanced IoT connectivity, AI, beacons and NFC among others led to increased creativity in DOOH industry in the recent years. Also, with stringent laws governing the number of roadside billboards that can be erected in a city, offering digital signs can prove to be a way out for advertisers.
For instance, the Highway Beautification Act of 1965 in the US limits the number of new roadside billboards that can be erected, and digital signs in this regard prove to be a way out for advertisers to stimulate growth by helping them increase efficiency and acquire market share from other advertising platforms.
Outdoor advertising is currently the dominant segment in the DOOH market, driven by growing outdoor activities of people such as shopping, dining out and travelling. Established advertisement market along with increased penchant for digital technologies among advertisers, marketers and corporate entities attaches strong demand for DOOH in the developed world.
As consumers in Asia-Pacific and other emerging economies are following the footsteps of their western counterparts and are quickly migrating from traditional media channels to the attractive digital medium, growth of the digital media marketing industry in these regions is likely to be robust.
The market for Transit Media is forecast to growth the fastest over the analysis period. With people spending most of their time outdoors, transit media has quickly gained popularity among the DOOH advertising agencies.
Given the advantages such as high degree of visibility, cost effectiveness and superior flexibility, transit media has emerged as an important advertising medium in the marketing world. Generally perceived as highly suitable for mass promotional medium, transit advertising also comes across as an effective choice for targeting a specific customer profile.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- An Introduction to Digital OOH
- Digital OOH: Current Market Scenario and Outlook
- A Brief Overview of Trends Shaping the DOOH Market
- Product Segment Analysis
- Digital Billboards: Prominent Category
- Digital Billboards Vs. Traditional Billboards
- Transit Media Emerges as New Growth Vertical
- Rising Demand for Street Furniture
- Some Forms of Street Furniture
- While Developed Regions Remain Major Revenue Contributors, Developing Regions Exhibit Fast Paced Growth
- Economic Scenario and Its Impact on Digital OOH Market
- COMPETITIVE LANDSCAPE
- Digital OOH: Fragmented Marketplace
- Recent Market Activity
- Global Outdoor Advertising Competitor Revenues in US$ Billion
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS(Total 45 Featured)
- Adams Outdoor Advertising
- AOTO Electronics Co., Ltd
- APG - SGA SA
- Ayuda Media Systems
- Bell Media
- Broadsign International LLC
- Clear Channel Outdoor Holdings, Inc.
- Daktronics, Inc.
- Global
- JCDecaux Group
- Lamar Advertising Company
- oOh!media Limited
- Outfront Media, Inc.
- Pattison Outdoor Advertising
- Primedia Outdoor
- Stroer SE & Co. KGaA
3. MARKET TRENDS & DRIVERS
- Growing Importance of Outdoor Advertising Creates Fertile Environment for Digital OOH
- A Note on Evolution of Outdoor Advertising
- Leading Advertisers in OOH Spending Globally
- Digital OOH Rides on the Urbanization Wave
- Urban Skyscrapers with Building Wrap Screens Drive Adoption
- Increased Vehicular Traffic in Urban Territories Augurs Well
- Smart City, the New Urban Infrastructure Concept, to Drive Next Wave of Growth in DOOH
- Airports: Niche Segment
- Smart Airports to Widen Airport DOOH
- Programmatic Approach Steps In to Instigate Broad-based Opportunities for Digital OOH
- Fragmented In-Home Advertising Extends Opportunities
- Special Entertainment Events Provides Momentum
- Technological Confluence Sparks Innovative Approaches to Digital OOH
- AI and Data Analytics Come to the Fore to Enhance DOOH Capabilities
- Smartboards Enhance Viewer Recall of Outdoor Ads
- Gesture Technology Proliferates the DOOH Vertical
- The Rise of Augmented Reality & Nex-Gen Glad-vertising
- Eco-Friendly Designs, Sleeker Hardware & Smarter Software Proliferate DOOH Domain
- Issues & Challenges
- Lack of Measurement: A Key Impediment
- Unconventional Pricing Models
- Issues with Targeting & Attribution
- Safety Issues Being Taken to Higher Levels
- Municipal Contracts: Inducing Uncertainty into Business
- Unfavorable Regulations for Outdoor Advertising
- Competition from Established & Emerging Forms of Advertising: A Challenge to Reckon With
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
UNITED STATES
- Prominent Market Drivers
- Digital Billboards Continue to Grow in Prominence
- Technology Developments Sharpen Growth in Digital Billboards Vertical
- Banking & Financial Services Firms Rely on DOOH
- Tough Regulatory Stance: Major Challenge
- Advertising Market Data
CANADA
JAPAN
CHINA
- Digital Format Challenges Static Billboard Advertising
- Regulatory Issues
EUROPE
FRANCE
GERMANY
- Outdoor Spending Still Insignificant
ITALY
UNITED KINGDOM
REST OF EUROPE
ASIA-PACIFIC
- Digital OOH Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
REST OF WORLD
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/ef4pxw
