Overview and Scope
Out-of-home advertising, also known as outdoor advertising, refers to advertisements that reach customers while they are outside their homes. Out-of-home advertising publicizes a business’s products as well as its services. The purpose of advertising is to attract new customers by reaching out to them with an effective ad strategy.
Sizing and Forecast
The out-of-home advertising market size has grown strongly in recent years. It will grow from $29.8 billion in 2023 to $31.7 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to rapid economic growth in emerging markets, rise of globalization, rise in transit advertising and rapid technology development.
The out-of-home advertising market size is expected to see steady growth in the next few years. It will grow to $38.39 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to rising urbanization, adoption of programmatic digital display advertisements, increase government spending on out-of-home advertising and growing digital out-of-home advertising. Major trends in the forecast period include investing in digital platforms to enhance viewers experience, offering interactive advertisements to influence customers, consider deploying artificial intelligence in the ads to help companies or individuals to effectively target customers, and offering mobile integrated ooh advertising to increase customer interaction with brand. player-adopted strategies in the out-of-home advertising market include expanding their operational and business presence in the market through strategic acquisition, developing new technologies and solutions through strategic collaboration with technology players, and exploring media business with digital transformation..
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Segmentation & Regional Insights
The out-of-home advertising market covered in this report is segmented –
1) By Type: Billboard, Street Furniture, Transit, Other Types
2) By Platform: Static, Digital
3) By End User: Vehicle Industry, Food & Beverage Industry, Commercial And Personal Services, Consumer Goods, Health And Medical Industry And Others
Asia-Pacific was the largest region in the out-of-home advertising market in 2023. North America was the second largest region in the global out-of-home advertising market share. The regions covered in the out-of-home advertising market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rising urban population has contributed to the growth of the out-of-home advertising market. The increase in the population in urban cities increases traffic congestion and waiting time. According to the INRIX 2020 Global Traffic Scorecard, London is ranked as the most congested city in the UK, for instance, in December 2022, according to the United Nations Conference on Trade and Development, a Switzerland-based intergovernmental body inside the United Nations Secretariat that promotes developing nations’ interests in global commerce, in 2021, the urban population share is expected to rise to 56.5 percent. It is often greater in developed nations (79.5 percent in 2021) than in developing nations (51.8 percent). According to the UN World Urbanization Prospects revision, the urban population is expected to increase to 68% across the world by 2050. Over a third of expected urban growth will occur in just three countries—India, China, and Nigeria—and by 2050, the expected urban dwellers in India could be 416 million, China 255 million, and Nigeria 189 million. The rise in the urban population in developed and developing countries, which is contributing to the increasing traffic congestion, is driving the growth of out-of-home advertising market.
Key Industry Players
Major companies operating in the out-of-home advertising market report are JCDecaux Group, Clear Channel Outdoor Holdings, Inc, Lamar Advertising Company, OUTFRONT Media Inc, Focus Media Information Technology, Stroer SE & Co KGaA, Daktronics Inc, oOh!media Limited, APG SGA, Exterion Media Group, Broadsign International LLC, Talon Outdoor Ltd, Ooh!Media Limited, Jives Media, Commcreative, Webfx, The Times Group, Eye Media LLC, WA Logistik Gmbh, Wall Gmbh, DSM Deutsche Städte Medien Gmbh, Ströer Media Deutschland Gmbh, MOPLAK Medien Service Gmbh, Blowup Media Gmbh, Externa Spa, Boca SRL, Europe Media SRL, Esotas SRL, Mediakom SRL, RMAA Group, Transit Media Group, SUN OOH Media, Ideacomm, Adboard Media, Phil-O-Media, Media Motion, MK OOH Media, Interbus, Screen Media, Adquick, Sizmek Technologies, Inc, Intersection Media Holdings, Inc, Pattison Outdoor Advertising Limited Partnership, Newad Media Inc, Anchour, Starfish, Manifesto Agency, Astral Media Outdoor, L.P, Cameron Advertising Displays Limited, Fluent, Inc., Eletromidia SA, One Brasil Midia Interativa SA, J.Chebly Empreendimentos De Publicidade SA, Chase Marketing Promocoes E Eventos Ltda, Plamarc Ltda, Creatika Spa, Gyt Business Group SPA, Grafica Nueva SA, Ykone, Jeddah, Cdecaux SA, Posterscope, Sharp NEC Display Solutions, Hills Advertising L.L.C, Backlite Media, 365 Digital, Primedia Outdoor, OHMSA, Kong Marketing Agency
The out-of-home advertising market report table of contents includes:
1. Executive Summary
2. Out-of-Home Advertising Market Characteristics
3. Out-of-Home Advertising Market Trends And Strategies
4. Out-of-Home Advertising Market – Macro Economic Scenario
5. Global Out-of-Home Advertising Market Size and Growth
..
32. Global Out-of-Home Advertising Market Competitive Benchmarking
33. Global Out-of-Home Advertising Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Out-of-Home Advertising Market
35.Out-of-Home Advertising Market Future Outlook and Potential Analysis
36. Appendix
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