Knowledge Sourcing Intelligence announces the publication of a new report on "Global out of home advertising market - from 2019 to 2026" to their offering.
The global digital out of home advertising market is projected to grow at a CAGR of 10.35% to reach US$33.372 billion in 2026 from US$16.750 billion in 2019.
Digital Out of home advertising is visual advertising media which can be found outside of the home which includes indoor and outdoor signs, billboards, ads on streets, in transit areas like train stations and airports, furniture like benches and bus shelters. Apple, a multination company which specializes in consumer electronics, cleaver marketing campaign “Shot on iPhone” invited customers to send custom clicked photos shot on their iPhones which were turned into billboards to appeal to a larger audience. Since these can allow interactivity and moving images, they attract a larger audience. .The Covid-19 pandemic has impacted every industry globally which is causing socio-economic disruptions. Lockdown that followed the outbreak has disrupted production and distribution channel of the out of home advertising industry. This caused wide gap between demand and supply. However, it is expected that demand for out of home advertising will rise when the economic conditions will be back to normal.
Out of home advertising is highly utilized in commercial advertising applications as it is a strong medium of advertisement for a majority of retails and industry sectors. It provides industries opportunities to create interactive campaigns, different marketing strategies including sales and offers on their products and weekly promotions to a larger audience digitally. The growing urbanization and the ever-growing population have increased the spending capacities by companies to increase their penetration in those regions. The cost-effective availability of digital displays has further fueled the growth of this market. Also, the increasing adoption of AR and VR, with the growing demand of IOT based solutions has further boosted the demand and created opportunities in the industry.
The global out of home advertising by origin are segmented as a digital urban panel, digital billboards, digital posters and others. Digital billboards hold the major market share as consumers are mainly attracted to digital channels as they are more engaging and provide information on real time basis. A digital billboard is an more consumer-friendly and an effective way to advertise to reach a large mass of audience. Several government agencies make use of these billboards to directly interact with the audience to deliver emergency messages and helps in law enforcement.
The global out of home advertising by end user industry are segmented as retail, healthcare, hospitality, banking and others. The retail segment is witnessing significant market growth owing to the extensive demand of these out of home advertising due to the technological advancement offerings and infrastructure expansions. The retail segment where customer interaction takes place through interactive billboards and kiosks has hugely grown in the demand of DOOH media. The marketing strategies used by retailer to promote their brand value and attract more customers has been further fueled the demand of digital out of home screen in pace of print media to target a larger customer base.
However, volatility in the prices of digital out of home advertising, stringent regulations of the government such as content and the size in different regions are expected to pose a challenge to the market growth of the digital out of home advertising market in the forecasted period.
The Covid-19 pandemic has had an adverse effect on the industries due to the lockdown implemented in various parts of the world which implemented the shutting down of manufacturing and production facilities of industries. The COVID-19 impact on the global out of home advertising market has been negative owing to the disruption in the attainable revenues in the media and advertising markets. Digital advertising platform have gained pace during the course of the pandemic due to the correlation media consumption and the leisure time at home. This has factored to the decline in the growth of the traditional out of home advertising market. Also, the disruptions of public transportation in this time period due to the easy transmission of the virus, the DOOH market in witness lower reach among consumers.
The market on the basis of region is segmented as North America, South America, Europe, Middle East & Africa and Asia Pacific. Asia Pacific is expected to grow at high CAGR during the forecasted period owing to its highest population among other regions. The growing population has further increased the purchasing power due to which the region is considered one to the largest market for digital out of home advertising. Furthermore, the increasing GDP and the infrastructural developments in the region has fueled the market for DOOH media. Also, the presence of key dominant players of the industry like Shanghai Media group, JCDecaux and Times Internet has further boosted the growth in the region. Furthermore, North America region is anticipated to hold a significant share in the market owing to the technological advancements providing cutting edge technology and the adoption and awareness of commercial displays in the region.
As a part of the report, the major players operating in the dimethyl carbonate market, which have been covered are
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/global-digital-out-of-home-advertising-market
This report segmented the sodium bicarbonate market on the basis following terms:
Digital Urban Panel
By End-user industry
Middle East and Africa