Global Digital Outdoor Advertising Industry Expected to Reach $14.3 Billion by 2028 – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The “Global Digital Outdoor Advertising Market Size, Share and Trend Analysis Report by Format, by Vertical, by Regional Outlook and Forecast, 2022-2028” report has been added to from ResearchAndMarkets.com offer.

The global outdoor digital advertising market size is expected to reach $14.3 billion by 2028, growing the market at 11.9% CAGR during the forecast period.

Digital outdoor advertising (DOOH) is a type of outdoor advertising that combines both digital and traditional components of outdoor advertising. These digital advertisements are displayed on publicly accessible real estate in various locations. Since the data is displayed on digital screens in real time, digital outdoor advertisements offer unique and original material, which becomes more interactive and creative. This feature improves the visibility of digital screens. As the desire for interactive advertisements among consumers is increasing, the adoption of digital outdoor advertising is also increasing, propelling the market forward.

Developed countries continue to dominate the industry, with the highest screen penetration, while demand in underdeveloped countries is increasing. Increasing urban population and economic development are contributing to growing demand. Due to the expansion of the urban population, the purchasing power has increased and hence businesses are heavily targeting these locations to increase their penetration. The Asia-Pacific region has the largest middle-class population, and the region’s economic expansion is expected to drive advertising spending.

In addition, the money spent on advertising has steadily increased. For example, the United States of America topped the list, followed by China and Japan. When it comes to ROI per screen, the United States of America was ranked first. Advertisers are also developing more imaginative and interactive street furniture, which allows them to engage their audience while simultaneously collecting data about them.

Brands can use DOOH to effectively advertise their products even if they are not equally available everywhere with the right technology partner. For example, if a company wants to launch a new line of frozen pizzas — first in a few cities, then nationwide — they could use DOOH to target each market individually. One might need a campaign stating that the pizzas are currently available, while another might need to point out that the new range will be available shortly.

Market Growth Factors

Widespread adoption of screens and popularity of digital media

The increased use of commercial screens in the advertising sector is expected to accelerate the growth of the digital outdoor advertising market. The advent of relatively inexpensive digital screens can be credited with the growth. The industry stands to benefit from the increased use of virtual reality and augmented reality, cloud-based platforms, and growing demand for IoT. Additionally, combining DOOH with VR and AR enables companies to increase engagement and reach for their initiatives. Cloud-based solutions provide benefits such as flexibility, connectivity, and improved content management, which are fueling industry demand.

Combination of DOOH and User Generated Content (USG)

On DOOH, user-generated material leaves a lasting impression on the consumer. It offers the kind of relatability that consumers seek in popular advertising. A business can effectively deliver advertisements with the goal of increasing recognition, exposure, and engagement. Placing DOOH in areas where passers-by have more free time, such as bus stops, train stations, or transportation, can increase the number of people who see the ad. Almost all brands use the expert model airbrush. It is expected that the consumer will be prompted to interact more if they see a peer as a brand advocate. Not only that, but it will be relatable and memorable for them.

Marketing Restriction Factor:

DOOH is expensive to implement

Along the highways there are many billboards. Drivers are more focused on the road than on roadside advertisements. Many billboards are only visible for a second or two at most. So, the biggest problem with digital outdoor advertising formats is their ephemeral nature. Companies have to pay large sums so that their advertising is watched for only a few seconds on average. Therefore, the advertising cost per exposure may be higher than with other approaches. This factor makes it somewhat impractical for small and medium businesses. Billboards cost more per panel than other types of digital outdoor advertising, such as 6-sheet displays in shopping malls or post office displays.

Scope of the study

Market Segments Covered in the Report:

By size

  • Signposts

  • Public transport and transportation

  • Urban furniture

  • Local media

By vertical

  • Immovable

  • Financial services

  • Government

  • Restaurants

  • Media and entertainment

  • Automotive and Transportation

  • Detail

  • Others

By geography

  • North America

  • WE

  • Canada

  • Mexico

  • Rest of North America

  • Europe

  • Germany

  • UK

  • France

  • Russia

  • Spain

  • Italy

  • The rest of Europe

  • Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Singapore

  • Malaysia

  • Rest of Asia-Pacific

  • LAMEA

  • Brazil

  • Argentina

  • United Arab Emirates

  • Saudi Arabia

  • South Africa

  • Nigeria

  • Rest of LAMEA

Main market players

  • JCDecaux Group

  • Stroer SE & Co. KGaA

  • Clear Channel Outdoor Holdings, Inc.

  • OUTFRONT Media, Inc.

  • oh! Media Limited

  • Broadsign International, LLC

  • Focus Media Information Technology Ltd.

  • Global Media Group Services Limited

For more information on this report, visit https://www.researchandmarkets.com/r/35kkqw

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