By the end of 2017, it was predicted that the digital out-of-home market would generate US$ 3,905.3 million annually. It is projected that this market would expand steadily during the following years.
By the end of the forecast period, key market value shares are predicted to be held by SEA and Others of APAC, Western Europe, and North America. The global digital-out-of-home market is anticipated to grow at a CAGR of 11.0% between 2018 and 2028.
In its analysis, "Digital-Out-of-Home Market: Worldwide Industry Analysis 2013 - 2017 and Opportunity Assessment 2018 - 2028," FMI provides substantial data on the global digital-out-of-home market. The global digital out-of-home market is anticipated to rise steadily at a CAGR of 11.0% between 2018 and 2028, making market value growth enticing. The Digital Billboards & Signages (DBB) category is expected to experience substantial growth over the projected period based on the platform. The retail sector of the worldwide digital out-of-home market is expected to acquire market share penetration during the predicted period, depending on the industry.
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The three prominent regions—North America, SEA & Others of APAC, and Western Europe—are predicted to hold the lion's share of the global market for digital out-of-home advertising. Over the course of the prediction, it is predicted that these markets would dominate the worldwide digital out-of-home market.
The world of digital media is changing significantly as a result of the introduction of cutting-edge digital technology. With the aim of offering cross-network advertisement delivery data in centralised web dashboards that are equivalent to the characteristics of ad servers in the online sector, a number of media owners have entered the digital out-of-home market in recent years. The measurement of digital out-of-home media has improved with the development of interactive technologies that allow advertisers to gather customer insights utilising location data from mobile devices.
According to FMI analysis, Digital Place-Based Networks (DPN) in the platform sector will dominate the digital out-of-home market due to the introduction of location-based advertising at various venues and the surge in smartphone penetration. The retail sector will rule the market based on industry due to the widespread usage of digital billboards and place-based networks by brand marketers at malls, highway shoulders, bus shelters, airports, and other high dwell-time places to generate large customer traffic.
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Key Segments Covered in Digital-Out-of-Home Market
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According to FMI analysis, long-term contracts with business partners help increase revenue and new innovation strategies enable digital-out-of-home vendors and media owners to reach new growth markets. Some of the market participants in the global digital-out-of-home market report include JCDecaux, Lamar Advertising Company, Clear Channel Outdoor, oOh!Media Ltd., Ströer SE & Co. KGaA, Outfront Media, Inc., APN Outdoor Group Ltd., Focus Media Co. Ltd., Exterion Media Group, BroadSign International LLC and Asiaray Media Group Ltd.
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Significant Contributions of the Report
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jan 07, 2023
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