The Billboard And Outdoor Advertising Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Billboard And Outdoor Advertising Global Market Report 2024, The billboard and outdoor advertising market size has grown strongly in recent years. It will grow from $390.77 billion in 2023 to $410.82 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to mobility and transportation changes, environmental considerations, cultural and social trends, competition and industry growth, innovations in design and creativity.
The billboard and outdoor advertising market size is expected to see steady growth in the next few years. It will grow to $492.07 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to digital transformation, targeted advertising solutions, mobile integration, augmented reality (ar) and virtual reality (vr), environmental sustainability. Major trends in the forecast period include cross-channel campaigns, interactive advertising, mobile integration, data-driven targeting, programmatic buying.
The increase in digital out-of-home (DOOH) advertising is expected to contribute to the growth of the billboard and outdoor advertising markets. Out of home (OOH) advertising refers to advertising outside of the home and includes billboards, bus shelters, wallscapes, and posters. Outdoor signage, digital billboards, and television screens are all examples of DOOH. In contrast to traditional billboards that show static images all the time, digital boards display more live images and can run multiple advertisements, thereby attracting more consumers. For instance, in August 2022, according to reports by SEO by Sociallyin, a UK-based search engine optimization agency, digital out-of-home advertising is projected to experience a substantial 19.2% growth in advertising spending, reaching an anticipated spending level of $3.84 billion in 2023. DOOH, in recent times, has seen lucrative growth and is expected to grow more in the forecast period because of its engaging and interactive nature.
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The billboard and outdoor advertising market covered in this report is segmented –
1) By Type: Painted Billboards, Digital Billboards, Multi-purpose Billboards, Mobile Billboards, Other Types
2) By Application: Highways, Railway Stations, Buildings, Automobiles, Other Applications
3) By End-User: Retail, Banks & Financial Institutions, Commercial Buildings, Media & Entertainment, Government, Transportation
The expansion of programmatic media buying is a growing trend in the field of digital out-of-home (DOOH) advertising. Programmatic advertising refers to the use of automated technology for buying advertising space in contrast to traditional methods of digital advertising. This method employs data insights and algorithms to display the appropriate advertisements to the appropriate person at the appropriate time and price. About 82% of viewers were able to recall a DOOH advertisement that they saw over a month ago. The brands have now expanded their in-house programmatic media buying capabilities. For instance, in April 2021, PubMatic, Inc., a sell-side platform that delivers superior results for digital advertising, announced today that BT, a multinational telecommunications company, and Essence, a data and measurement-driven agency part of GroupM, have successfully used a buyer-controlled fee structure to gain control and transparency over all programmatic inventory purchased through PubMatic. The collaboration between BT, Essence, and PubMatic has provided BT with improved visibility into how much of its total media spend reaches end publishers and has assisted them in investigating the ‘unknown delta’—the lost or unaccounted-for ad spend between advertisers and publishers during a programmatic auction.
The billboard and outdoor advertising market report table of contents includes:
1. Executive Summary
2.Billboard And Outdoor Advertising Market Characteristics
3.Billboard And Outdoor Advertising Market Trends And Strategies
4.Billboard And Outdoor Advertising market analysis
5. Billboard And Outdoor Advertising Market Size And Growth
6.Billboard And Outdoor Advertising Segmentation
7.Billboard And Outdoor Advertising Regional And Country Analysis
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27.Billboard And Outdoor Advertising Competitive Landscape And Company Profiles
28.Billboard And Outdoor Advertising Key Mergers And Acquisitions
29. Billboard And Outdoor Advertising Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Capitol Outdoor LLC
- Titan Outdoor Holdings Inc.
- JCDecaux Group
- Clear Channel Outdoor Holdings Inc.
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