The Digital Out of Home Advertising market is expected to grow at a compound annual growth rate of 10.35% over the forecast period to reach a market size of US$33.372 billion in 2026 from US$16.750 billion in 2019.
Digital out-of-home media, or DOOH media, refers to digital media that appear in environments accessible to the public. This includes digital billboards and outdoor signage, as well as networks of screens found in businesses like malls and healthcare providers. DOOH is a broad category, so you can find it pretty much everywhere. Head over to the nearest commercial district and you’ll likely find large digital billboards, small digital signboards, and even little TV screens used to serve up content. All of these are examples of DOOH. In practice, these displays are mostly like the static billboards and signs that have existed for centuries. However, since digital displays can allow for moving images and interactivity, they are a lot more flexible. The movement also has a much easier time capturing the eye, meaning DOOH has far more potential to make an impact. Traditional billboards incur printing and installation costs for each new ad. Displaying fresh content on digital billboards can be automated and done in seconds. There’s more upfront cost to set up a digital screen, but it’s an investment that more than pays for itself. Digital also allows for a number of different pieces of content to be displayed. With regular billboards, the same static image will stay up for weeks, whereas a digital ad can change every 15 seconds. This variation on the screen keeps viewers interested and more receptive to messaging. DOOH is even more impressive when applied in tandem with other modern technologies. Pair a display and facial recognition technology and you can match content to the demographics of onlookers. Integrate weather data and you can create campaigns that change content depending on whether it’s sunny or raining. There’s endless opportunity for creativity, context, and relevance when DOOH is paired with other sensors and software, much of which could not be possible with static displays, which is further expected to boost the DooH market growth.
However, the regulations for Digital Out of Home such as the content and size in different regions and the volatile cost of Digital Out of Home might pose as a restraint to the global Digital Out of Home market.
The Digital Out of Home market is segmented on the basis of product, end-user industry, and geography.
The growing utilization of commercial displays in the advertising sector is projected to fuel the digital-out-of-home market growth. The growth can be accredited to the availability of relatively low-cost digital displays. Increasing adoption of VR and AR, cloud-based platforms coupled with the growing demand for IoT is anticipated to provide significant opportunities to the industry. Furthermore, the integration of DOOH with VR and AR is helping companies to enhance the interactivity and reach of their campaigns. Advantages such as flexibility, connectivity, and enhanced content management offered by cloud-based platforms are providing impetus to the industry demand.
Consumers now have access to numerous modes, but they are more attracted to digital channels as they provide information on a real-time basis and they are more engaging. Digital modes are more accessible in generating a larger scope for highly developed conversations with consumers. A digital billboard is an effective form of advertisement which reaches people in an interactive way. Many government agencies depend on digital billboards to deliver emergency messages and allow the public to help law enforcement. In the U.S the adoption of digital billboards is high. U.S consumer gets attracted easily towards the billboards while crossing the roads. Hence, these factors are boosting the digital out-of-home market.
Impact of COVID – 19
Due to the COVID-19 pandemic, several markets have been adversely affected due to the repercussions on the operating profits of the companies. Digital out-of-home is one such market anticipated to witness a decline in growth over the future years. Amongst the other markets, media and advertising are likely to foresee tremendous disruption in the attainable revenues over the coming period. While digital advertising platforms have predominantly attained opportunities for engaging consumers simply because of the apparent correlation between time at home and media consumption, the traditional Out-Of-Home (OOH) advertising market is predicted to decline over the future years. With the fact that public transport modes act as an ideal environment for the spread of a deadly disease like this, the DOOH market is conceivably witnessing lower reach, especially at the transport locations as target customers are mostly staying indoors and avoiding crowded places as much as possible.
April 2021 - Global, the Media, and Entertainment group, and Broadsign, developer of the leading out-of-home (OOH) marketing platform, announced that Global has chosen the Broadsign platform to accelerate the expansion of its digital-out-of-home (DOOH) network, which has grown to include 3,000 displays. The integration of the Broadsign Control content management system (CMS) into Global’s growing network of roadside, Underground, airport, and shopping center screens throughout the United Kingdom will allow the media owner to scale its operations throughout 2021 and beyond.
April 2019 - JCDecaux partnered with Zompagnie française des expositions (COFREX) for the French Pavilion at the World Expo to be held from 20 October 2020 to 10 April 2021.
April 2019 - Broadsign International, Inc., a prominent provider of digital out-of-home marketing platforms, agreed to acquire Ayuda, and the transaction is anticipated to close in the second quarter of 2019.
Prominent/major key market players in the Digital Out of Home market include Lamar Advertising Company, OUTFRONT Media Inc., Primedia Outdoor, and Broadsign among others. The players in the Digital Out of Home market are implementing various growth strategies to gain a competitive advantage over their competitors in this market. Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the Digital Out of Home market.
Frequently Asked Questions (FAQs)
Q1. What is the size of the global digital out of home advertising market?
A1. Digital Out Of Home Advertising Market was valued at US$16.750 billion in 2019.
Q2. What are the growth prospects for the digital out of home market?
A2. The global digital out of home market is expected to grow at a CAGR of 10.35% during the forecast period.
Q3. What will be the digital out of home advertising market size by 2026?
A3. The digital out of home advertising market is expected to reach a total market size of US$33.372 billion by 2026.
Q4. What factors are anticipated to drive the digital out of home market growth?
A4. The growing utilization of commercial displays in the advertising sector is projected to fuel the digital-out-of-home market growth.
Q5. Who are the major players in the digital out of home advertising market?
A5. Prominent/major key market players in the Digital Out of Home market include Lamar Advertising Company, OUTFRONT Media Inc., Primedia Outdoor, and Broadsign among others.