Digital Out-of-home Advertising Market Projected To Reach USD 16.8 Billion By 2028


 San Francisco, 20 July 2022: The Report Digital Out-of-home Advertising Market Size, Share & Trends Analysis Report By Format (Billboards, Street Furniture, Transit & Transportation, Place-based Media), By Region, And Segment Forecasts, 2022 - 2028

The global digital out-of-home advertising market size is expected to reach USD 16.8 billion by 2028, registering a CAGR of 13.8% from 2022 to 2028, according to a new report by Grand View Research, Inc. The growing rapid urbanization in emerging economies is accelerating market growth. The increasing popularity of digital outdoor advertising among the various industries in recent years to offer information about their company and products is expected to accelerate the market growth. Moreover, the rising effectiveness of digital out-of-home advertising in developing countries due to variables like creative ad design, consumer perception, and geo-location is up surging the market growth in the upcoming years.

Moreover, digital out-of-home advertising is rapidly gaining popularity owing to having more engagement of customers, and the rising brand awareness are accelerating the market growth. Furthermore, a lockdown situation has been observed during the COVID-19 pandemic that showed a negative impact on the digital out-of-home advertising market due to many advertisers slashed marketing budgets or paused their spending on advertising during this period. Moreover, the increasing spending on out-of-home advertising after the ease of several restrictions is expected to boost the market growth in the forecast period.

The transit & transportation segment is expected to register the highest CAGR of 15.7% from 2022 to 2028. The increasing adoption of digital outdoor advertising for brand awareness and promotion of the various products through the various transport mode has significantly accelerated the growth of this segment. Additionally, rising investment in digital out-of-home advertising by the various advertisers due to the high engagement of customers in the transit & transportation segment is driving the market growth.

The government segment is expected to grow with a higher CAGR of 15.6% from 2022 to 2028 of the global market. The increasing spending on digital outdoor advertising by various political parties and other organizations in recent years for various protests and campaigns is expected to boost the market growth in the forecast period. Moreover, the rising popularity of out-of-home advertising for promoting government policies and increasing awareness about various schemes are driving the growth of the market.

North America dominated the market with a revenue share of more than 35% in 2021. The growing transport infrastructure development like roads and trains is propelling the outdoor advertising market in this region. Furthermore, the increasing investments associated with out-of-home advertising are expected to drive the market growth in this region. Additionally, an eye-catching and interactive advertising strategy in digital outdoor advertising is accelerating market growth.

Access Research Report of Digital Out-of-home Advertising Market @ https://www.grandviewresearch.com/industry-analysis/digital-out-of-home-advertising-market-report

Digital Out-of-home Advertising Report Highlights

  • Europe is expected to expand at the second-fastest CAGR of 14.0% in the forecast period. The growth of the market in the region is attributed to speedy urbanization in emerging countries of the region along with rapid digitization.
  • The automotive segment is expected to expand at a considerable CAGR of 14.6% in the forecast period. The growing usage of digital out-of-home advertising in the segment is credited to the fact that it enables the industry to launch campaigns in a flexible, faster, and accessible manner to increase the level of consciousness among the consumers.
  • The real estate segment held the largest market share in 2021, contributing around 15% of the total revenue due to the growing promotion activity of real estate properties.
  • Asia Pacific is expected to witness the fastest growth, with a CAGR of 14.6% from 2022 to 2028 owing to growing spending on digital out-of-home advertising.

List of Key Players in Digital Out-of-home Advertising Market

  • JCDecaux
  • Stroer SE & Co. KGaA
  • Clear Channel Outdoor Holdings, Inc.
  • Outfront Media
  • oOh!media Ltd.
  • Lamar Advertising Company
  • Broadsign International LLC.
  • Focus Media
  • Global Outdoor Media Limited 

Access Press Release of Digital Out-of-home Advertising Market @ https://www.grandviewresearch.com/press-release/global-digital-out-of-home-advertising-market

 

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