Westford, USA, Dec. 03, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that out of home advertising market size will attain the value of USD 61.95 Billion by 2031, with a CAGR of 9.7% during the forecast period (2024-2031). The increasing use of digital billboards is one of the major drivers in out-of-home advertising. These digital billboards could be placed anywhere near the required audience. The portable properties of these boards are the main reasons for the growing popularity of digital billboard advertising. The advanced features such as light emission and glowing throughout the day and night make it a viable choice for the business to advertise through it and in turn increase the demand of the out of home advertising industry during the forecast period.
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Browse in-depth TOC on "Out of Home Advertising Market "
- Pages – 165
- Tables - 63
- Figures – 75
Out of Home Advertising Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 28.48 Billion |
| Estimated Value by 2031 | USD 61.95 Billion |
| Growth Rate | Poised to grow at a CAGR of 9.7% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Platform and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the world |
| Report Highlights | Rising Consumer Engagement with Outdoor Media |
| Key Market Opportunities | Growing Interest in Functional Foods |
| Key Market Drivers | Increasing Urbanization and Digital Transformation in Advertising |
Out Of Home Advertising Market Segmental Analysis
The Global Out of Home Advertising Market is segmented based on Type, Platform, and region.
Based on type, the market is segmented into Billboards, Shelters, Transit displays, and Street furniture.
Based on Platforms, the market is segmented into Physical outdoor advertising and digital outdoor advertising.
Based on region, the global Out of Home Advertising market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Billboards Segment to Dominate Due to their Unavoidable Presence
As per the out of home advertising market outlook, billboards accounted for the largest market share in 2023 and are expected to dominate the segment. The main reason for dominance is their unavoidable presence as it can't be turned off or skipped or switched between like any other source of marketing. These boards are already a marketing tool for all companies because they help build brand image and trust among the audience. Therefore, those marketing strategies are followed by all the companies and are not easily replaceable, which is raising the demand for the out-of-home advertising market in the longer run.
Digital Outdoor Advertising Segment is Growing Due to Rising Advances in Digital Technology
Compared to traditional physical outdoor advertising, digital outdoor advertising is growing rapidly. This growth is driven by advancements in digital technology, the increasing adoption of interactive displays, and the flexibility DOOH offers in delivering dynamic and personalized content. Digital billboards, LED screens, and programmatic advertising solutions allow brands to adapt messages in real time based on audience demographics, weather, or location, making them more effective and engaging.
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Asia Pacific is Dominating Due to Increased Investment by Companies
As per out of home advertising market analysis, the Asia-Pacific region accounted for 30% of the market share. The main contributor to this dominance in the region is the presence of large growing economies like China. Increased investment by companies in marketing and brand building are some of the key drivers of this dominance. This is expected to grow with time as more companies and brands are entering the business segment and require reaching out to the audience which could be easily gained through out-of-home advertising strategies which will also propel the growth of the market during the forecast period.
Drivers
- Increasing Urbanization and Digital Transformation in Advertising
- Growing Popularity of Programmatic Digital Out-of-Home (DOOH) Advertising
- Rising Consumer Engagement with Outdoor Media
Restraints
- High Initial Investment Costs for Digital Displays
- Regulatory Restrictions on Outdoor Advertisements in Certain Areas
- Competition from Online and Mobile Advertising Channels
Prominent Players in Out of Home Advertising Market
- Daktronics Inc.
- Lamar Advertising Co
- JCDecaux
- Clear Channel Outdoor
- Outfront Media Inc.
- Ströer SE & Co. KGaA
- APG|SGA SA
- Global Outdoor Advertising Market (GOAM)
- oOh!media Limited
- Adams Outdoor Advertising
- Intersection
- Exterion Media
- Primedia Outdoor
- Ocean Outdoor Limited
- Pattison Outdoor Advertising
- Fairway Outdoor Advertising
- Broadsign International LLC
- Vector Media
- Zoom Media
- Ayuda Media Systems
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Key Questions Answered in Out of Home Advertising Market Report
- Which region has the biggest share in the market?
- Who are the key players in the market?
- Which is the dominating growing region in the market?
- What years does this market cover, and what was the market size be in 2023?
This report provides the following insights:
Analysis of key drivers (increasing urbanization and digital transformation in advertising), restraints (high initial investment costs for digital displays), opportunities (growing interest in functional foods) influencing the growth of Out of Home Advertising Market.
- Market Dynamics: Comprehensive information about the various products offered by the dominant players in the Out of Home Advertising Market.
- Product Development/Innovation: An overview of emerging trends, R&D activities and product launches in the Out of Home Advertising Market.
- Market Growth: Detailed information on profitable growing industries.
- Market Trends: Complete information about new products, emerging geographical areas and recent developments in the market.
- Competitive Analysis: An in-depth analysis of the market segments, growth strategies, revenue analysis, and products of the key market players.
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