Global Digital Out of Home (DOOH) Advertising Market Grows at a Staggering CAGR of 13.20%

Introduction

Digital out-of-home (DOOH) advertisement is a type of marketing where advertising materials are dynamically and digitally exhibited in indoor and outdoor public locations. Due to the increasing complexity of online advertising and the hefty expense of ad blockers, marketing and advertising companies are looking for alternative solutions that will allow them to broadcast their advertisements or messages. As a result, the DOOH market has a profitable potential and could see an increase in acceptance during the projected period.

High Media Flexibility with Integrated Screens Drives the Global Market

One of the primary problems with traditional OOH was the time it took to transport the content to each location and the setup. In addition, it had to be brought down in a physically demanding, labor-intensive, and challenging operation. The utilization of connected screens in digital OOH has helped to get over this restriction. This is done so that when employing digitally connected media display devices, creatives can be quickly distributed to media units with just a few clicks. The flexibility and cost-effectiveness of switching display ad creatives allow marketers to optimize campaigns in flight.

Improvement of the Public Transit System Creates Tremendous Opportunities 

Infrastructure spending is significant for promoting technological adoption. These investments have steadily addressed how to reconcile technology breakthroughs with sustainability principles. All levels of government now promote transit to reduce urban congestion, improve mobility, and keep the economy competitive. The transit infrastructure of the industrialized and developing countries has recently increased, assisting them in achieving their overall mobility objectives.

Regional Analysis 

Asia-Pacific is the most significant shareholder in the digital out-of-home (DOOH) advertising market and is expected to grow at a CAGR of 19.10% during the forecast period. Asia's first unified online OOH network, which connects over 2,000 digital billboards across five countries, enables media buyers to strategically plan and arrange to advertise across thousands of billboards in the Asian outdoor media sector. It also accurately assesses the viewership of the intended audience.

North America is anticipated to increase at a CAGR of 16.20% and produce USD 9,370.91 million during the forecast period. Due to several large businesses and considerable R&D projects that have resulted in the widespread use of DOOH in the region, North America is predicted to dominate the market under research for the anticipated timeframe. Several key players in the field are working closely together through strategic alliances to promote innovative technology in the subject sector. This is predicted to raise demand for DOOH over the projection period. For instance, in September 2019, the top location-based digital video network in North America, Captivate, and location-based martech company Hivestack established a strategic alliance to introduce programmatic channels for digital out-of-home advertising.

Key Highlights

• The global digital out-of-home (DOOH) advertising market was valued at USD 24.32 billion in 2023. It is projected to reach USD 74.23 billion by 2032, growing at a CAGR of 13.20% during the forecast period (2024–2032).

• Based on the location, the global digital out-of-home (DOOH) advertising market is bifurcated into indoor and outdoor. The indoor segment is the highest contributor to the market and is expected to grow at a CAGR of 18.60% during the forecast period.

• Based on applications, the global out-of-home (DOOH) digital advertising market is bifurcated into billboards, transit, street furniture, and other applications. The transit segment owns the highest market share and is expected to grow at a CAGR of 17.95% during the forecast period.

• Based on the end-user, the global digital out-of-home (DOOH) advertising market is bifurcated into retail, healthcare/pharmaceuticals, financial services, automotive, telecom/utilities, government agencies, and other end-users. The retail segment is the highest contributor to the market and is expected to grow at a CAGR of 19.00% during the forecast period.

• Asia-Pacific is the most significant shareholder in the digital out-of-home (DOOH) advertising market and is expected to grow at a CAGR of 19.10% during the forecast period.

Competitive Players

1. JCDecaux Group
2. Clear Channel Outdoor Holdings Inc.
3. BroadSign International LLC
4. Outfront Media
5. Daktronics Inc.
6. Talon Outdoor Ltd
7. oOh!media Limited
8. QMS Media Limited
9. SevenOne Media
10. Stroer SE & Co. KGaA
11. Exterion Media Group
12. The Times Group
13. EyeMedia LLC.

Recent Developments

Recent Developments

• September 2022- The roll-out of a product dubbed Data Portal marks the beginning of an innovative digital relationship in data management between Pernod Ricard and JCDecaux, two significant international businesses with French roots. With this solution, a business can consolidate all its global entities' data into a single location, making it easier for users to access and share. Both Groups have put data at the center of their business and growth strategies, and the Data Portal supports those goals.
• August 2022- Leading digital outdoor media provider QMS revealed that campaign-based selling began on August 29 for its renowned City of Sydney street furniture network. The announcement was a significant component of a magnificent carbon-positive event last night by QMS at Sydney Town Hall.

Segmentation

1. By Product
   1. Digital Billboard
   2. Digital Signage
   3. Digital Screens
2. By Format Type
   1. Billboard
   2. Transit
   3. Street Furniture
   4. Others
3. By Organization-size
   1. Large and Medium Enterprises
   2. Small Enterprises
4. By Application
   1. Indoor
   2. Outdoor
5. By End-User
   1. Retail
   2. Healthcare
   3. Banking & Financial Services, Insurance (BFSI)
   4. Automotive
   5. Government
   6. Media & Entertainment
   7. Food & Beverages