DUBLIN, October 25, 2022 /PRNewswire/ — The “Global Outdoor Advertising Market: Analysis by medium type (traditional outdoor advertising and digital outdoor advertising), by segment (billboards, mass transit, street furniture and others), by region size and trends with impact of the COVID-19 and forecasts until 2027″ report has been added to from ResearchAndMarkets.com offer.
The global outdoor advertising market in 2021 was US$37.03 billionand is likely to reach US$75.01 billion by 2027. In recent years, outdoor advertising has helped the advertiser to reach those audiences who do not have access to traditional advertisements such as the young generation, businessmen and the middle class population, allowing allowing the advertiser to target specific demographics, ages, incomes, and ethnic groups.
Outdoor advertising is a type of advertising, which includes any type of advertising done outside in order to publicize products and services.
Outdoor advertising has several advantages, including the ability to make a strong impression on viewers, build brand awareness, reach a large audience, and be available 24 hours a day, 365 days a year. Finally, outdoor advertising improves the visual environment. The global outdoor advertising market is expected to grow at a CAGR of 12.3% during the forecast period 2022-2027.
Global Outdoor Advertising Market Dynamics:
- Drivers of Growth: Demand for various types of outdoor advertising has increased significantly in recent years due to the boom in the tourism industry, as tourism increases footfall at airports and other attractive locations such as shopping malls , which would increase consumer visibility and brand awareness. . Further, the market is expected to grow, driven by increasing programmatic advertising spend on digital signage, rising urban population, accelerating economic growth, improved consumer confidence, and more. during the last years.
- Challenges: A person can use a phone call or video call to advertise products and services through outbound telemarketing. Requiring less manpower, delivering highly personalized messages and reducing overhead costs, this mode is increasingly more lucrative than display media in developing countries. In the coming years, the need for outdoor advertising is expected to decrease due to the increase in demand for this sector, posing a challenge to the market as a whole. Moreover, other factors like intense competition, strict regulations, etc. are other challenges for the market.
- Market Trends: AI is being used in both advertising and automation to increase productivity. It is also used to optimize the huge volumes of data available to produce better campaigns and have a greater influence on the advertising industry. Therefore, it is expected that the use of artificial intelligence in the outdoor advertising industry will increase the demand in the coming years. More trends in the market are believed to drive the outdoor advertising market to grow over the forecast period, which may include an increase in 5G mobile subscriptions, adoption of the power of storytelling, advertisements focused on creativity, the rise of anamorphic and 3D display panel applications, the advancement of software, the development leaning towards beacon technology, and more.
COVID-19 impact analysis and way forward:
COVID-19 has brought many changes to the world, including lack of consumer visibility, lack of cross-border mobility, labor shortages, and shutdown of economic activities around the world caused by the pandemic. of COVID-19, resulting in lower demand. for outdoor advertising in various end-use industries, which ultimately negatively impacted its market growth globally.
However, the post-pandemic market is expected to grow as more people get vaccinated, there has been an increase in mobility at many touchpoints, such as airports and shopping malls, and brands are gradually launching their campaigns. As people have started to return to work, exposure to outdoor advertising is also expected to increase.
Competitive landscape and recent developments:
The outdoor advertising market is generally fragmented. Companies are focusing on introducing new features to satisfy customer expectation by providing popular outdoor advertising style. Additionally, vendors are expanding their global reach through cutting-edge business strategy.
Major business activities are undertaken by market players including mergers and acquisitions, collaborations, agreements, new product launches, international expansion, etc.
In addition, key players in the Outdoor Advertising market are:
- JCDecaux SA
- Clear Channel External Funds
- Stroer SE & Co. KGaA
- Lamar Media Corp.
- Outfront Media Inc.
- APG – SGA SA
- Focus Media Information Technology Co Ltd
- oOh!Media Ltd
- Asiaray Media Group
- Global Media & Entertainment Ltd.
- Al Arabia Outdoor Advertising
- Atairos (Ocean Outdoor Ltd.)
- Intersection Media, LLC.
Main topics covered:
3. Global Market Analysis
3.1 Global Outdoor Advertising Market: An Analysis
3.1.1 Global Outdoor Advertising Market: An Overview
3.1.2 Global Outdoor Advertising Market by Value
3.1.3 Global Outdoor Advertising Market by Media Type (Traditional Outdoor Advertising and Digital Outdoor Advertising)
3.1.4 Global Outdoor Advertising Market by Segment (Billboards, Transit, Street Furniture and Others)
3.1.5 Global Outdoor Advertising Market by Region (Asia Pacific, North America, Europe, Middle East & Africaand Latin America)
3.2 Global Outdoor Advertising Market: Average Type Analysis
3.2.1 Global Outdoor Advertising Market by Type: An Overview
3.2.2 Global Traditional Outdoor Advertising Market by Value
3.2.3 Global Digital Outdoor Advertising Market by Value
4. Regional Market Analysis
5. Impact of COVID
5.1 Impact of COVID-19
5.1.1 Increasing Online Penetration of Industries
5.1.2 Increase in number of social media users
5.2 Post-COVID-19 Impact on the Global Outdoor Advertising Market
6. Market dynamics
6.1 Engine of growth
6.1.1 Booming tourism industry
6.1.2 Growth of Programmatic Ad Spend on Digital Display
6.1.3 Increase in urban population
6.1.4 Acceleration of economic growth
6.1.5 Improving consumer confidence
6.2.1 Outbound Telemarketing Market Growth in Developing Economies
6.2.2 Intense competition
6.2.3 Strict regulations
6.3 Market trends
6.3.1 Involvement of artificial intelligence
6.3.2 Increase in 5G mobile subscriptions
6.3.3 Embracing the power of storytelling
6.3.4 Creativity-focused ads
6.3.5 Growing Applications of Anamorphic and 3D Display Panels
6.3.6 Software progress
6.3.7 Develop commitment to Beacon technology
7. Competitive Landscape
7.1 Global Outdoor Advertising Players by Market Share
7.2 US Outdoor Advertising Players by Market Share
7.3 UK (UK) Outdoor Advertising Players by Market Share
8. Company Profiles
8.1 JCDecaux SA
8.1.1 Overview of activities
8.1.2 Operational activities
8.1.3 Business strategy
8.2 Clear Channel Outdoor Holdings Inc.
8.2.1 Overview of activities
8.2.2 Region of operation
8.2.3 Business Strategy
8.3 Stroer SE & Co. KGaA
8.3.1 Company Overview
8.3.2 Operational Segment
8.3.3 Business strategy
8.4 Outfront Media Inc.
8.4.1 Business Overview
8.4.2 Operational Segment
8.4.3 Business strategy
8.5 APG – SGA Group
8.5.1 Company Overview
8.5.2 Region of operation
8.5.3 Business strategy
8.6 oOh!Media Ltd.
8.6.1 Company Overview
8.6.2 Revenue by format
8.6.3 Business Strategy
8.7 Asiaray Media Group Ltd
8.7.1 Company Overview
8.7.2 Operational Segment
8.7.3 Business strategy
8.8 Outdoor Advertising in Saudi Arabia
8.8.1 Company Overview
8.8.2 Business strategy
8.9 Atairos (Ocean Outdoor Ltd.)
8.9.1 Company Overview
8.9.2 Business Strategy
8.10 Intersection Media, LLC
8.10.1 Company Overview
8.10.2 Business Strategy
8.11 Lamar Advertising Company
8.11.1 Company Overview
8.12 Focus Media Information Technology Co Ltd.
8.12.1 Company Overview
8.13 Global Media & Entertainment Ltd.
8.13.1 Company Overview
For more information on this report, visit https://www.researchandmarkets.com/r/8ndiwi
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