Digital Out-of-home Advertising Market 2028 Growing Worldwide By Best Key players- JCDecaux; Stroer SE & Co. KGaA; Clear Channel Outdoor Holdings; Inc.; Outfront Media; oOh!media Ltd.; Lamar Advertising Company; Broadsign International LLC.; Focus Media; Global Outdoor Media Limited
The global digital
out-of-home advertising market size is expected to reach USD 16.8 billion by 2028, registering a
CAGR of 13.8% from 2022 to 2028,
according to a new report by Grand View Research, Inc. The growing rapid
urbanization in emerging economies is accelerating market growth. The
increasing popularity of digital outdoor advertising among the various
industries in recent years to offer information about their company and
products is expected to accelerate the market growth. Moreover, the rising
effectiveness of digital out-of-home advertising in developing countries due to
variables like creative ad design, consumer perception, and geo-location is up
surging the market growth in the upcoming years.
Moreover, digital
out-of-home advertising is rapidly gaining popularity owing to having more
engagement of customers, and the rising brand awareness are accelerating the
market growth. Furthermore, a lockdown situation has been observed during the
COVID-19 pandemic that showed a negative impact on the digital out-of-home
advertising market due to many advertisers slashed marketing budgets or paused
their spending on advertising during this period. Moreover, the increasing
spending on out-of-home advertising after the ease of several restrictions is
expected to boost the market growth in the forecast period.
The transit &
transportation segment is expected to register the highest CAGR of 15.7% from
2022 to 2028. The increasing adoption of digital outdoor advertising for brand
awareness and promotion of the various products through the various transport
mode has significantly accelerated the growth of this segment. Additionally,
rising investment in digital out-of-home advertising by the various advertisers
due to the high engagement of customers in the transit & transportation
segment is driving the market growth.
The government
segment is expected to grow with a higher CAGR of 15.6% from 2022 to 2028 of
the global market. The increasing spending on digital outdoor advertising by
various political parties and other organizations in recent years for various
protests and campaigns is expected to boost the market growth in the forecast
period. Moreover, the rising popularity of out-of-home advertising for
promoting government policies and increasing awareness about various schemes
are driving the growth of the market.
North America
dominated the market with a revenue share of more than 35% in 2021. The growing
transport infrastructure development like roads and trains is propelling the
outdoor advertising market in this region. Furthermore, the increasing
investments associated with out-of-home advertising are expected to drive the
market growth in this region. Additionally, an eye-catching and interactive
advertising strategy in digital outdoor advertising is accelerating market
growth.
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Digital
out-of-home advertising is one of the fastest-growing advertising types due to
expansion into new venues & markets, innovation, and enhanced features in
outdoor advertising are accelerating the market growth. Moreover, the
increasing demand for creative and interactive displays of full-motion video
and the inclusion of animation has expected to drive market growth in the
forecast period. Digital
out-of-home advertising is a form of outdoor advertising for outdoor and
integrating both digital components and offline out-of-home advertising. These digital
advertisements are displayed on real estate present in various locations that
are publicly accessible. Digital out-of-home advertisements provide innovative
and creative content and it becomes more interactive and creative due to the
display of data on digital screens in real-time. This feature results in better
visibility of digital screens. the growing trend for interactive advertisements
for consumers results in the increased adoption of digital out-of-home
advertisements hence driving the market growth.
Digital Out-of-home Advertising Report Highlights
- Europe is
expected to expand at the second-fastest CAGR of 14.0% in the forecast
period. The growth of the market in the region is attributed to speedy
urbanization in emerging countries of the region along with rapid
digitization.
- The automotive
segment is expected to expand at a considerable CAGR of 14.6% in the
forecast period. The growing usage of digital out-of-home advertising in
the segment is credited to the fact that it enables the industry to launch
campaigns in a flexible, faster, and accessible manner to increase the
level of consciousness among the consumers.
- The real estate
segment held the largest market share in 2021, contributing around 15% of
the total revenue due to the growing promotion activity of real estate
properties.
- Asia Pacific is
expected to witness the fastest growth, with a CAGR of 14.6% from 2022 to
2028 owing to growing spending on digital out-of-home advertising.
Digital
out-of-home advertisements are cost-effective using which commercials can reach
a wide range of populations thus their usage is high and increasing thus
fueling the market growth in the forecast period. Additionally, the growing
urbanization and rising infrastructure development across the globe are anticipated
to propel the market growth during the forecast period. Furthermore, the
increasing spending on outdoor advertising by various industries owing to its
ability to run multiple advertisements on a single screen is accelerating
market growth.
Digital outdoor
advertising is gaining popularity in the advertising world as it creates brand
awareness among people and also compliments the brand’s advertising campaigns
on other channels, which are projected to accelerate the market growth.
Moreover, as individuals spend more time outside their office and home, that
allows brands to reach a mass audience consistently and rapidly through
out-of-home advertising is accelerating the market growth in the forecast
period. However, the intense competition among the vendors of the out-of-home
advertising business is restraining the market growth.
List of Key Players in Digital Out-of-home Advertising Market
- JCDecaux
- Stroer SE &
Co. KGaA
- Clear Channel
Outdoor Holdings, Inc.
- Outfront Media
- oOh!media Ltd.
- Lamar Advertising
Company
- Broadsign
International LLC.
- Focus Media
- Global Outdoor
Media Limited
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