Portland, Oct. 28, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global digital-out-of-home (DOOH) market garnered $3.63 billion in 2016 and is expected to reach $8.39 billion by 2023, registering a CAGR of 12.60% from 2017 to 2023. The report provides a detailed analysis of the key winning strategies, changing market dynamics, key segments, competitive landscape, and major market players.
Lowered cost of digital screens, ease in data integration, rapid digitization, and lack of demand for traditional billboards drive the growth of the global digital-out-of-home market. However, complex and expensive nature of DOOH and the rise in the trend of online advertisements hinder the market growth. On the other hand, rise in the urban population creates new opportunities in the market.
Based on the format type, the billboard segment held more than two-thirds of the total market share in terms of revenue in 2016 and will maintain its dominance during the forecast period. On the other hand, the transit segment is expected to grow at the largest CAGR of 12.9% from 2017 to 2023.
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Based on the application, the outdoor segment held the largest market share in 2016, accounting for nearly two-thirds of the total share, and is estimated to maintain its lion’s share during the forecast period. Moreover, the segment is expected to register the highest CAGR of 12.9% from 2017 to 2023. The research also analyzes the indoor segment.
Based on end-user, the automotive segment accounted for the highest market share of nearly one-fifth of the market share in terms of revenue in 2016 and is expected to retain its dominance by 2023. On the other hand, the entertainment segment is expected to register the highest growth rate with a CAGR of 14.3% from 2017 to 2023.
Based on region, Europe accounted for more than one-third of the total market share in 2016 and is estimated to maintain its leadership position during the forecast period. However, Asia-Pacific is projected to register the highest CAGR of 15.4% from 2017 to 2023.
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Leading industry players analyzed in the research include JCDecaux, Lama Advertising Company, Clear Channel Outdoor Holdings Inc., Daktronics, OUTFRONT Media, Oohmedia! Ltd., Prismview LLC NEC Display Solutions Ltd., Aoto Electronics Co. Mvix, Inc., Broadsign International LLC, Ayuda Media System, Christie Digital System, and Deepsky Corporation Ltd.
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