Dublin, May 13, 2022 (GLOBE NEWSWIRE) -- The "Digital OOH - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Digital OOH Market to Reach $24.9 Billion by 2024
Amid the COVID-19 crisis, the global market for Digital OOH is projected to reach US$24.9 Billion by 2024, registering a compounded annual growth rate (CAGR) of 9.9% over the analysis period. United States represents the largest regional market for Digital OOH, accounting for an estimated 32.2% share of the global total.
DOOH advertising offers great opportunities for advertisers to market their products and services using digital billboards, promotions and interactive campaigns without the need to waste paper for printed billboards.
The market is projected to reach US$8.3 Billion by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 13.1% over the analysis period.
Growing commercial display usage in advertising constitutes the chief growth promoting factor for digital OOH market. Technology advancements like enhanced IoT connectivity, AI, beacons and NFC among others led to increased creativity in DOOH industry in the recent years. Also, with stringent laws governing the number of roadside billboards that can be erected in a city, offering digital signs can prove to be a way out for advertisers.
For instance, the Highway Beautification Act of 1965 in the US limits the number of new roadside billboards that can be erected, and digital signs in this regard prove to be a way out for advertisers to stimulate growth by helping them increase efficiency and acquire market share from other advertising platforms.
Outdoor advertising is currently the dominant segment in the DOOH market, driven by growing outdoor activities of people such as shopping, dining out and travelling. Established advertisement market along with increased penchant for digital technologies among advertisers, marketers and corporate entities attaches strong demand for DOOH in the developed world.
As consumers in Asia-Pacific and other emerging economies are following the footsteps of their western counterparts and are quickly migrating from traditional media channels to the attractive digital medium, growth of the digital media marketing industry in these regions is likely to be robust.
The market for Transit Media is forecast to growth the fastest over the analysis period. With people spending most of their time outdoors, transit media has quickly gained popularity among the DOOH advertising agencies.
Given the advantages such as high degree of visibility, cost effectiveness and superior flexibility, transit media has emerged as an important advertising medium in the marketing world. Generally perceived as highly suitable for mass promotional medium, transit advertising also comes across as an effective choice for targeting a specific customer profile.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market Insights
An Introduction to Digital OOH
Digital OOH: Current Market Scenario and Outlook
A Brief Overview of Trends Shaping the DOOH Market
Product Segment Analysis
Digital Billboards: Prominent Category
Digital Billboards Vs. Traditional Billboards
Transit Media Emerges as New Growth Vertical
Rising Demand for Street Furniture
Some Forms of Street Furniture
While Developed Regions Remain Major Revenue Contributors, Developing Regions Exhibit Fast Paced Growth
Economic Scenario and Its Impact on Digital OOH Market
Digital OOH: Fragmented Marketplace
Recent Market Activity
Global Outdoor Advertising Competitor Revenues in US$ Billion
Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS(Total 45 Featured)
Adams Outdoor Advertising
AOTO Electronics Co., Ltd
APG - SGA SA
Ayuda Media Systems
Broadsign International LLC
Clear Channel Outdoor Holdings, Inc.
Lamar Advertising Company
Outfront Media, Inc.
Pattison Outdoor Advertising
Stroer SE & Co. KGaA
3. MARKET TRENDS & DRIVERS
Growing Importance of Outdoor Advertising Creates Fertile Environment for Digital OOH
A Note on Evolution of Outdoor Advertising
Leading Advertisers in OOH Spending Globally
Digital OOH Rides on the Urbanization Wave
Urban Skyscrapers with Building Wrap Screens Drive Adoption
Increased Vehicular Traffic in Urban Territories Augurs Well
Smart City, the New Urban Infrastructure Concept, to Drive Next Wave of Growth in DOOH
Airports: Niche Segment
Smart Airports to Widen Airport DOOH
Programmatic Approach Steps In to Instigate Broad-based Opportunities for Digital OOH
Fragmented In-Home Advertising Extends Opportunities
Special Entertainment Events Provides Momentum
Technological Confluence Sparks Innovative Approaches to Digital OOH
AI and Data Analytics Come to the Fore to Enhance DOOH Capabilities
Smartboards Enhance Viewer Recall of Outdoor Ads
Gesture Technology Proliferates the DOOH Vertical
The Rise of Augmented Reality & Nex-Gen Glad-vertising
Eco-Friendly Designs, Sleeker Hardware & Smarter Software Proliferate DOOH Domain
Issues & Challenges
Lack of Measurement: A Key Impediment
Unconventional Pricing Models
Issues with Targeting & Attribution
Safety Issues Being Taken to Higher Levels
Municipal Contracts: Inducing Uncertainty into Business
Unfavorable Regulations for Outdoor Advertising
Competition from Established & Emerging Forms of Advertising: A Challenge to Reckon With
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
Prominent Market Drivers
Digital Billboards Continue to Grow in Prominence
Technology Developments Sharpen Growth in Digital Billboards Vertical
Banking & Financial Services Firms Rely on DOOH
Tough Regulatory Stance: Major Challenge
Advertising Market Data
Digital Format Challenges Static Billboard Advertising
Outdoor Spending Still Insignificant
REST OF EUROPE
Digital OOH Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
REST OF WORLD
For more information about this report visit https://www.researchandmarkets.com/r/ef4pxw
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