Global Digital OOH Market at an Estimated US$26.9 billion by 2025 is an Opportunity Too Big to Ignore!
Boxed in with lockdown restrictions and curtailed commercial activity, the Digital OOH market is expected to decline in the year 2020 before recovering to reach a revised market size of US$26.9 billion by 2025.
Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Digital OOH market. Report segmentation includes Product (Billboard, Transit, Street Furniture, Other Products); Application (Outdoor, Indoor); and Vertical (Commercial, Infrastructural, Institutional, Other Verticals).
14 June 1:44 A.M., California/Marketwire/ - According to the new market research report, the global market for Digital Out-of-Home (DOOH) advertising is projected to reach US$26. 9 billion by 2025, driven by the distinct shift towards digital technology in the media world, led by the advent of latest technologies and devices. This digital trend has affected traditional display formats, and caused fragmentation in the audience base. While print media has suffered considerable declines in readership due to the digitalization trend, television media`s audience base has remained relatively unchanged with an additional shift seen in the form of greater choice of digital platforms becoming available to the audiences. For out-of-home advertising, there has been a significant growth, led by the increasing urbanization of world`s population.
The introduction of digital solutions is transforming hitherto lethargic traditional outdoor advertising into a highly potent area of growth. Digital technologies like digital billboards are 3 times more impactful than static billboards. In addition, digital technologies provide rich data and analytical insights that can be used for real-time OOH ad optimization and agility; Interactive ads bring in more dynamic experiences than static messaging; integration of programmatic strategies ensure that OOH ad campaigns are auto-managed with reference to pricing, availability, scheduling of resources & audience targeting. Developing and expanding ad ecosystems and networks in line with the rise of smart cities will offer explosive opportunities for growth in the coming years. Digital technology has enabled outdoor advertising format to become more flexible and relevant to consumers and advertisers, and also aided in extending its reach to a wider audience base. Given the inherent characteristic of outdoor advertising, digital technology is becoming well integrated with changing ways of consumers` interaction with advertisers. A significant advantage of using digital technology in outdoor advertising is that the relevance and interaction levels are offered at a relatively lower cost per contact given the rapidly expanding audience base. Digital technology is also being used to quantify the medium`s contribution through measurement of audience engagement and return on investment in outdoor advertising, a capability that has particularly found favor with ad agencies and marketers.
With the world becoming increasing connected socially, outdoor advertising is emerging as the mass medium with the ability to collaborate with the increasingly urban, mobile and social consumer. Personalization of DOOH advertising will emerge as a key trend in the market over the coming years. Linking mobiles of viewers to DOOH screens in the proximity, using location data, will become commonplace. Such mobile location-based marketing enables brands to target customers with more personalized advertising. Also, information gathered from phones will be anonymized by data vendors and carriers for selling to media owners. The data provides information of demographic groups for instance, information about business travelers who walk by an advertisement. Such data will be used alongside other insights like weather data and traffic related data for better localizing ad content for DOOH advertising.
Key Competitors Covered in the Report
Adams Outdoor Advertising
AOTO Electronics Co., Ltd
Broadsign International LLC
Clear Channel Outdoor Holdings, Inc.
Lamar Advertising Company
Outfront Media, Inc.
Pattison Outdoor Advertising
Stroer SE & Co. KGaA
Geographies Analyzed in the Report
Europe (France, Germany, Italy, UK, Spain, Russia, Rest of Europe)
Asia-Pacific (Australia, India, South Korea, Rest of Asia-Pacific)
Latin America (Argentina, Brazil, Mexico, Rest of Latin America)
Middle East (Iran, Israel, Saudi Arabia, UAE, Rest of Middle East)
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. All analysis and findings published in the report are based on validated engagements from a total executive pool size of 621. Among this pool, 124 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 23 unique participations, a total of 12 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world's only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.
Director, Corporate Communications
Global Industry Analysts, Inc.