Global Out of Home Advertising Market

Global Out Of Home Advertising Market Size, Share, Growth Analysis, By Type(Billboards, Shelters), By Platform(Physical Outdoor Advertising, Digital Outdoor Advertising) - Industry Forecast 2024-2031

Report ID: SQMIG25Z2011 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 63 | Figures: 75

Global Out Of Home Advertising Market Dynamics

Out Of Home Advertising Market Driver

  • The growing use of digital billboards is one of the major driving factors for the out-of-home advertising market. These digital billboards could be placed anywhere near the required audience. The portable properties of these boards are the main reason for the growth of digital billboard advertisements. The advanced features such as light emission and glowing throughout the day and night make it a viable choice for the business to advertise through it and in turn increase the demand of the out-of-home advertising market during the analysis period.

Out Of Home Advertising Market Restraint

  • The growing use of smartphones and the penetration of the internet to various corners of the world is increasing the demand for digital marketing strategies. These strategies can be used for showing a specific type of advertisement for a specific type of customer and that can lead to better lead conversion which is a major restraining factor for the out-of-home advertising market during the analysis period.
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Out Of Home Advertising Market size was valued at USD 26.01 billion in 2019 and is poised to grow from USD 28.48 billion in 2023 to USD 61.95 billion by 2031, growing at a CAGR of 9.7% in the forecast period (2024-2031).

The Out of Home Advertising market is relatively fragmented, with high competition. Few large players, like JCDecaux SA, Ströer SE & Co, and Clear Channel Outdoor Holdings Inc, now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability. 'Daktronics Inc.', 'Lamar Advertising Co', 'JCDecaux', 'Clear Channel Outdoor', 'Outfront Media Inc.', 'Ströer SE & Co. KGaA', 'APG|SGA SA', 'Global Outdoor Advertising Market (GOAM)', 'oOh!media Limited', 'Adams Outdoor Advertising', 'Intersection', 'Exterion Media', 'Primedia Outdoor', 'Ocean Outdoor Limited', 'Pattison Outdoor Advertising', 'Fairway Outdoor Advertising', 'Broadsign International LLC', 'Vector Media', 'Zoom Media', 'Ayuda Media Systems'

The growing use of digital billboards is one of the major driving factors for the out-of-home advertising market. These digital billboards could be placed anywhere near the required audience. The portable properties of these boards are the main reason for the growth of digital billboard advertisements. The advanced features such as light emission and glowing throughout the day and night make it a viable choice for the business to advertise through it and in turn increase the demand of the out-of-home advertising market during the analysis period.

Using analytical tools for efficiently increasing ad reach and attaining customers’ attention are some of the recent trends witnessed in the out-of-home advertising market. Now the advertisers can manage ad campaigns remotely through these tools. The involvement of analytics in the advertising campaign gives power to the company to analyze and track customer engagement with the product campaign through out-of-home advertisements.

In 2021, the Asia-Pacific region held approximately 30% of the outdoor advertising market share globally. The main contributor to this dominance in the region is the presence of large growing economies like China. Growing investments in marketing and brand building by companies are some of the main reasons for this dominance. This is expected to grow with time as more companies and brands are entering the business segment and require to reach out to the audience which could be easily gained through out-of-home advertising strategies which will also propel the growth of the out-of-home advertising market during the analysis period.

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