Digital OOH Advertising Market Outlook:
Digital out-of-home (OOH) advertisement represents a dynamic communication medium displayed on digital signage. It is mainly used for advertising products or communicating information to the public across airports, shopping malls, railway stations, bus shelters, roadways, etc. These signs are also used in indoor spaces, such as medical waiting rooms, retail stores, movie theatres, etc., that are accessible to the public.
What was the size of the global digital OOH advertising market in 2022?
The globalsize reached US$ 16.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 35.7 Billion by 2028, exhibiting a growth rate (CAGR) of 12.31% during 2023-2028.
Digital OOH Advertising Market Growth Factors:
The widespread adoption of projectors, motion graphics, video content, and virtual screens by advertisers to offer unparalleled viewability and target specific demographics is among the key factors stimulating the digital OOH advertising market. Moreover, the increasing digitization across numerous sectors and the inflating need for efficient advertising solutions are acting as significant growth-inducing factors.
Besides this, several technological advancements, such as the rising integration of advanced technologies, including Artificial Intelligence (AI) and Near Field Communication (NFC), with OOH advertising are positively influencing the global market. Furthermore, they generate real-time viewership analytics, which is also propelling the market growth.
Apart from this, the escalating demand for digital OOH advertisements, as they are equipped with facial recognition software, provides in-depth information regarding the demographics of the onlookers and passers-by, assist in understanding and engaging with the audience in an efficient manner, etc., is further catalyzing the global market. Additionally, the introduction of interactive billboards is anticipated to fuel the digital OOH advertising market over the forecasted period.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Competitive Landscape with Key Players:
The report has also analysed the competitive landscape of the market with some of the key players
- Clear Channel Outdoor Holdings Inc.
- Global Media
- Lamar Advertising Company
- oOh!media Limited
- Outfront Media Inc.
Key Market Segmentation:
The report has categorized the market based on format type, application and end-user.
Market Breakup by Format Type:
- Digital Billboards
- Video Advertising
- Ambient Advertising
Market Breakup by Application:
Market Breakup by End-User:
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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