Digital OOH Market Size to grow by USD 16.92 billion between 2024-2028
According to a research report “ Digital OOH Market” by Type (In-store advertising, Outdoor advertising) Product (Billboards, Shelter, Transit, Street furniture) Application (Retail, Recreation, Banking, Transportation, Others) Geography (APAC, North America, Europe, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 16.92 billion, at a CAGR of over 10.51% during the forecast period. In the Digital Out-of-Home (DOOH) market, the primary components for producing digital signage are different from those in print advertising. While print advertising relies on substrate and ink as raw materials, DOOH utilizes electronic displays and software. However, the supplier landscape for these materials could shift depending on market conditions. Regarding ink in print advertising, it is manufactured using binders, pigments, solvents, and additives, sourced from specialty chemical vendors. Pigments, particularly titanium dioxide, significantly impact production costs.
Browse market data tables, figures, and in-depth TOC on “Digital OOH Market” by Type (In-store advertising, Outdoor advertising) Product (Billboards, Shelter, Transit, Street furniture) Application (Retail, Recreation, Banking, Transportation, Others) Geography (APAC, North America, Europe, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample
By Type, the In-store advertising segment is projected to dominate the market size in 2024
The global digital Out-of-Home (OOH) market encompasses advertising displays situated in public spaces, including roads, flyovers, street furniture, sports arenas, malls, transit hubs like airports and bus stops, and food courts. The outdoor advertising sector of this market is poised for significant expansion during the forecast period. This growth can be attributed to the escalating urbanization trend, leading to increased time spent outdoors for activities such as traveling, shopping, and dining. Furthermore, the burgeoning number of air travelers necessitates the development of new airports and airport expansions to accommodate growing passenger traffic, thereby fueling the demand for digital OOH advertising solutions at these facilities.
By Product, Billboards segment is expected to hold the largest market size for the year 2024
In-store digital out-of-home (DOOH) advertising refers to digital displays placed within enclosed retail environments, including supermarkets, drug stores, and convenience stores. Commonly found at checkout counters and above-aisle or end-aisle locations, in-store DOOH advertising is projected to exhibit modest growth during the forecast period. This growth may be hindered by the increasing preference for online shopping, as consumers frequently check e-commerce websites on their mobile devices prior to making purchases, thereby decreasing their in-store dwell time and reducing the likelihood of engaging with in-store advertisements.
APAC is forecasted to hold the largest market size by region in 2024
The digital out-of-home (DOOH) market in the Asia Pacific (APAC) region is experiencing significant growth, driven by increased investment from global vendors seeking to expand their operations and tap into new customer bases. Notable transactions, such as JCDecaux SA's acquisition of APN Outdoor Group Ltd. in Australia, underscore this trend. Moreover, the adoption of advanced technologies like augmented reality and virtual reality in OOH advertising, particularly in China, is expected to fuel market expansion. Additionally, digital OOH advertising spending in countries like the Philippines, Singapore, and Thailand is on the rise.
The Digital OOH Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Digital Out-of-Home (DOOH) market is experiencing significant growth due to the adoption of advanced technologies and innovative advertising formats. Supply chain in DOOH market is streamlined with network layouts optimized for production and capacity. Geographical coverage is expanding with new venues and markets, including transportation hubs, retail centers, and urban areas. Segmentation in DOOH market includes interactive advertisements, real-time data display, animation, and full-motion video, offering enhanced features for brands to increase visibility and engage audiences. The ability to display commercials in real-time and the use of advanced animation and full-motion video have led to increased expenditure on DOOH advertising. Brand awareness is a key benefit of DOOH advertising, with single screen and multiple screen displays providing greater ability to reach audiences. DOOH market utilization is on the rise, with commercials and advertisements becoming more interactive and engaging, incorporating real-time data and animation. The future of DOOH market looks promising, with the potential for further expansion into new markets and advertising types.
Market Research Overview
The Digital Out-of-Home (DOOH) market is witnessing Application Dominance with the rise of interactive digital signage, augmented reality (AR), and virtual reality (VR) technologies. Product Launches of advanced technologies like metaverse billboards, projection mapping, and smart advertisements are expanding the market's scope. Production Capacities are increasing with the Global Presence of key players, Trade Routes, and Domestic Tariffs influencing the competitive landscape. Case Studies reveal Strategic Decisions by Domestic Brands and Global Brands to adopt data-driven advertising solutions. Changes in Regulation and consumer preferences are driving the market, with intense competition among screen operators and media owners. Market Insights indicate a shift towards interactive experiences, privacy concerns, and dynamic content delivery. The DOOH market covers various segments, including automotive, government, construction industries, real estate, cinemas, airports, shopping centers, indoor, and outdoor segments. LED Screens and High-definition Displays dominate the market, with operational efficiencies and real-time data display enhancing the value proposition. Key industries like transportation & transportation segment, place-based media segment, and infrastructure development are driving the adoption of DOOH solutions. Urbanization, cost-effective pricing, and the ability to reach a mass audience are major factors contributing to the market's growth. Emerging economies with the largest population and increasing purchasing power are new venues & markets for DOOH advertisements. Public-private partnerships, smart cities, and digital presentations are transforming traditional media, with structures becoming smaller and local companies emerging as significant players. The DOOH market is evolving rapidly, with new technologies like AR, VR, and smart advertisements offering enhanced features and new advertising types. Real-time verification, premium DOOH inventory, and data-driven audience targeting are key operational efficiencies. The cost of advertising, competent workforce, and key industries like automotive, construction, and real estate are significant factors influencing the market's growth. The market's future looks bright, with structures becoming more interactive, consumer engagement increasing, and the behavior of consumers influencing transportation media revenues. Billboards and modes of advertisement continue to evolve, with interactive commercials and travelers seeking information and digital content. The cost of advertising and the ability to reach audiences effectively remain crucial factors. Some notable players in the market include VIOOH Limited, JCDecaux, Times Internet, and local players in emerging nations. Infrastructure development, urbanization, and the ability to provide cost-effective solutions are essential for success in this competitive market. The future of DOOH advertising lies in the ability to provide engaging, interactive, and data-driven experiences that resonate with consumers.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
