USD 12.9 billion
Report ID: SQMIG50T2001 | Region: Global | Published Date: November, 2023 | Pages: 157 | Tables: 101 | Figures: 76
Global Digital Out-of-Home Advertising Market size was valued at USD 12.9 billion in 2021 and is poised to grow from USD 13.13 billion in 2022 to USD 31.59 billion by 2030, growing at a CAGR of 11.6% in the forecast period (2023-2030).
In recent years, the global Digital Out-of-home Advertising market has been changing consumer preferences and demands by increasing adoption of digital signage, the proliferation of high-speed internet connectivity, and the rising demand for dynamic and interactive advertising content. The market has shown integration of cutting-edge technologies such as AI, data analytics, and augmented reality into DOOH advertising has enhanced the capabilities of campaigns. This has allowed advertisers to deliver more personalized and engaging content to target audiences.
Despite the growth, challenges such as high implementation costs and a lack of standardized metrics for measuring campaign effectiveness remain, hindering widespread adoption, particularly among smaller businesses.
Global Market Size
USD 12.9 billion
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The global digital out-of-home advertising market is segmented into four major segments i.e. by display, end-user, advertising format, and region. Based on the type of display, it is divided into static dooh displays, digital billboards, digital posters, video displays, and others. Based on end-user industry, it is bifurcated into retail, transportation (airports, bus stops, train stations), hospitality, healthcare, entertainment, corporate, education, and others. Based on advertising format it is segregated into, programmatic advertising, real-time bidding (rtb), static content, dynamic content, and others. Based on region, the market is segmented into North America, Latin America, Asia Pacific, Europe, and MEA.
Analysis by Display
Digital billboards have typically held a substantial market share due to the advances in display technologies, including improvements in resolution, color accuracy, and energy efficiency, which will play a crucial role in the growth of specific display types. Moreover, durability and low maintenance requirements may contribute to their continued dominance.
Due to niche applications, particularly in interactive and immersive environments, Video Displays have gained popularity. It may experience growth in areas where creating unique and interactive experiences is a priority, such as in experiential marketing and entertainment venues.
Analysis by End-User
Retail has long dominated the global digital out-of-home advertising market due to the importance of advertising in enhancing the in-store customer experience, promoting products, and driving sales. Digital displays in retail environments can be versatile, showcasing dynamic content and targeted promotions.
Transportation hubs are crucial locations for DOOH advertising due to high footfall and dwell times. Airports, bus stops, and train stations provide opportunities for advertisers to reach a diverse audience. The transportation segment may continue to grow rapidly, driven by increased investments in modernizing transportation infrastructure. Advertisers recognize the potential of reaching a captive audience during travel, making this segment attractive for dynamic and location-based campaigns.
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North America has historically dominated the Digital Out-of-home Advertising market due to the mature advertising industry, high technological adoption rates, and significant investments in digital signage across various sectors. While North America may not experience the same rapid growth rates as emerging markets, it remains a dynamic region for DOOH innovation. The adoption of programmatic advertising and interactive technologies could contribute to sustained growth.
Asia-Pacific is expected to be one of the fastest-growing regions for DOOH advertising. Rapid urbanization, increasing disposable income, and a growing middle class create opportunities for advertisers to engage with a broad and diverse audience. The region's large population and urbanization trends contribute to a substantial audience for DOOH advertising.
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Continuous Evolution and Integration of Cutting-edge Technologies
High Upfront Cost Associated and regulatory Frameworks
One of the main market restraints is that cost includes the acquisition of digital displays, content creation, and technological integration, posing a barrier for smaller businesses and advertisers with limited budgets. Another restraint is the potential resistance from regulatory frameworks and privacy concerns.
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The competitive environment of the digital out-of-home advertising market is dynamic and characterized by intense rivalry among key players vying for market share and innovation leadership. Established industry leaders, including digital signage solution providers, technology integrators, and advertising agencies, are continually engaged in strategic initiatives to strengthen their positions. The market dynamics are influenced by factors such as technological advancements, geographic expansion, and collaborations. New entrants and startups bring innovation, fostering a climate of continuous evolution.
Top Player’s Company Profiles
Integration of Artificial Intelligence and Programmatic Advertising
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Global digital out-of-home advertising market analysis reveals a dynamic marketplace with a number of standout trends and difficulties. The market is propelled by technological advancements, particularly in AI and data analytics, fostering targeted and dynamic content delivery. However, high upfront costs, regulatory concerns around data privacy, and a lack of standardized metrics pose restraints. Additionally, digital billboards and LED displays dominate the product landscape. Regionally, North America and Asia-Pacific lead in market share due to advanced digital infrastructure. Key trends include the integration of augmented reality, programmatic advertising, and sustainable practices, shaping the market's dynamic evolution.
|Market size value in 2021||USD 12.9 billion|
|Market size value in 2030||USD 31.59 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Digital Out-of-Home Advertising Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Digital Out-of-Home Advertising Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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