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Digital Out-of-Home (DOOH) Advertising Market

Digital Out-of-Home (DOOH) Advertising Market: Information by Location (Indoor, Outdoor), by Application (Billboard, Transit), and Region- Forecast till 2030

Published On : 03 Oct, 2022
Updated On : 07 Dec, 2022
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Market Snapshot

Base Year:
2021
Study Period:
2020-2030
CAGR:
13.20 %
Fastest Growing Market:
North America
Largest Market:
Asia-Pacific

The global digital out-of-home (dooh) advertising market size was valued at USD 18.98 billion in 2021. It is projected to reach USD 57.93 billion by 2030, growing at a CAGR of 13.20% during the forecast period (2022–2030). In the marketing strategy known as digital out-of-home (DOOH) advertising, promotional materials are dynamically and digitally displayed in indoor and outdoor public spaces. Marketing and advertising businesses are searching for alternate solutions that will allow them to broadcast their commercials due to the growing complexity of internet advertising and the high cost associated with ad blockers.

This creates a profitable potential for the DOOH market, which could increase adoption throughout the projection period. Mobile location marketing is gaining popularity since it allows owners of billboards to give prospective advertiser firms more knowledgeable options regarding where to place their ads. This is anticipated to increase the use of DOOH during the forecast period.

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Market Dynamics

Global Digital Out-of-Home (DOOH) Advertising Market Drivers

Improving Use of Digital Screen

Public information displays are anticipated to be quickly adopted due to recent developments in display technology and the proliferation of digital connectivity (PID). Another element driving the entry of new businesses with novel product implementations and resulting in the affordable pricing of digital displays is increasing panel size, further assisting in the adoption of digital screens. The market for LED displays has grown since billboards in several nations have been replaced with digital signage made of LEDs.

High Media Flexibility with Integrated Screens

One of the main issues with traditional out-of-home advertisements was the time needed to deliver the content to each place and its setup. Additionally, bringing it down on schedule required a physical, labor-intensive, and complex operation. Digital OOH's use of connected screens has helped overcome this limitation. This allows creatives to be distributed to media units with just a few clicks when digitally connected media display devices are used. It also enables in-flight campaign optimization for advertisers and provides them with the flexibility and cost-efficiency to change display ad creatives.

Global Digital Out-of-Home (DOOH) Advertising Market Restraint

High Costs for Installation and Maintenance

Most buyers neglect other costs and pay attention to the acquisition cost component. They are ultimately let down since upkeep is just as crucial as installation. Drones, which can frequently and remotely execute DOOH maintenance services, are only one of the new kinds of emerging maintenance services. Although they demand significant investment, they also lead to shorter lead times and reduced maintenance needs. Given that they can be built with several digital screens and come in different formats, such as 2x2, 3x3, 5x5, or 1x4, video walls are one of the most expensive digital signage solutions. Customers also need features like Mura-free, 24/7 operation, endurance, high resolution, constant brightness and contrast, and low bezel screens. These factors can hinder the growth of the digital out-of-home (DOOH) advertisement market during the forecast period.

Global Digital Out-of-Home (DOOH) Advertising Market Opportunities

Improvement of the Public Transit System

Physical infrastructure has been viewed by economists worldwide as a requirement for industrialization. Investments in the infrastructure are particularly crucial for technological adoption. These investments have gradually addressed how to combine technological advancements with sustainability principles. Transit has gained support from all government tiers to control urban congestion and enhance mobility while maintaining economic competitiveness. The industrialized and rising nations have recently seen an expansion in transit infrastructure, helping the nations achieve their overall mobility goals.

Segmental Analysis

The global digital out-of-home (DOOH) advertisements market is segmented by location, application, and end-user.

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. As more shopping centers and business complexes are being built, the indoor portion of the market under study is projected to expand. In addition to being a conspicuous method to liven up the shopping experience, consumers regard mall advertising, watching posters, and digital screens as being prominent ways to stay current with the latest trends and items. In recent months, the American division of Westfield shopping centers has installed more than 200 digital out-of-home (DOOH) ad pods in malls throughout the country.

Outdoor digital out-of-home kits are more expensive than indoor alternatives. Outdoor digital signage must be bright to be seen even when there is a lot of ambient light, such as direct sunshine. Depending on the environment, the hardware must be able to handle the heat, cold, dust, water, and more. Bus shelters and advertising contracts operate in the same manner as they did fifty years ago. This can hinder the growth of the digital out-of-home advertising market 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. The growing need for traveler-relevant digital content and information has resulted in interactive ads via various ad formats, including kiosks, billboards, and signboards, at the platform that contributes significantly to growth in transportation media revenues. As a result, consumer behavior towards customer interaction across all modes of transportation has changed, and businesses are now strategically putting their brands in the minds of their target customers. Over the next three years, this will turn potential customers away from traditional media.

The large-scale advertising structures known as billboards are used to brand, promote, and advertise goods and events. They are among the most noticeable and common types of outdoor signage and include posters and newsletters. Large-scale advertising has been developing regularly to keep up with technology. These billboards are an excellent approach for a brand to connect with its target market. Advertisers can modify their messaging throughout the day on digital billboards. Countdowns, live updates, day/week splitting, conditional content (weather, temperature), Outdoor Connect / RSS WiFi / TouchScreen, and more are just a few of its advertising features.

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. The retail industry is undergoing radical transformation on a global scale, with some of the most apparent disruptions being made possible by technology in the retail sector. The expansion of e-commerce has contributed to the exponential rise of the global retail market. Additionally, consumers regard out-of-home advertising to be more enticing than digital advertising. Another factor boosting demand for out-of-home advertising is the increased advertising spending by big shops worldwide. Retailers are projected to spend a lot of money on these installations to attract customers.

In the case of pharmaceuticals, sellers should focus on physicians and other healthcare professionals. Pharmaceutical companies spend a lot of money on commercials that promote their brand rather than a specific product. Pharma distributors must employ cutting-edge strategies to draw customers to their brand. An illustration of this is the Swedish drugstore Hjartat's anti-smoking campaign, which involved placing displays with smoke detectors on the streets of Stockholm.

Regional Analysis

Asia-Pacific Dominates the Global Market

The digital out-of-home (DOOH) advertising market is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.

Digital Out-of-Home (DOOH) Advertising Market Regional Analysis

Regional Growth Insights Request Sample Pages

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 connects over 2,000 digital billboards across five countries, enabling media buyers to strategically plan and advertise across thousands of billboards in the Asian outdoor media sector. It also correctly evaluates target audience viewership. A new digital out-of-home section was established by Tommy, a creative agency, to assist businesses in creating interactive content and transforming global screen usage.

North America is anticipated to increase at a CAGR of 16.20% and produce USD 9,370.91 million during the forecast period. North America is estimated to dominate the market under research for the projected period due to several significant enterprises and significant R&D initiatives that have led to the widespread use of DOOH in the region. Through strategic alliances, several of the major players in the area are collaborating closely to promote new technology in the industry under investigation. This is anticipated to increase demand for DOOH. In September 2019, Hivestack, a location-based martech company, and Captivate, the top location-based digital video network in North America, announced a strategic partnership to launch programmatic channels for digital out-of-home advertising. This partnership will enable programmatic buying of Captivate's premium office media inventory system through Hivestack's private marketplace (PMP) and ad exchange.

The digital OOH industry in Latin America is anticipated to expand significantly. The "For Those Who Know" campaign from Tequila brand Don Julio is the company's first new advertising effort in the country. The campaign consists of social media, experiential marketing, and national digital out-of-home advertising, among other things. Claudio Limon, a Mexican artist, has organized the mural installations for the campaign. Some of the most cutting-edge out-of-home (OOH) advertising measurement systems are in the Middle East. These platforms use "big data" concepts to enable several value-added services for conventional DOOH solutions.

List of Key Players

  • JCDecaux Group
  • Clear Channel Outdoor Holdings Inc.
  • BroadSign International LLC
  • Outfront Media
  • Daktronics Inc.
  • Talon Outdoor Ltd
  • oOh!media Limited
  • QMS Media Limited
  • SevenOne Media
  • Stroer SE & Co. KGaA
  • Exterion Media Group
  • The Times Group
  • EyeMedia LLC.

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.

Global Digital Out-of-Home (DOOH) Advertising Market: Segmentation

By Location

  • Indoor
  • Outdoor

By Applications

  • Billboard
  • Transit
  • Street Furniture
  • Other Applications

By End-User

  • Retail
  • Healthcare/Pharmaceuticals
  • Financial Services
  • Automotive
  • Telecom/Utilities
  • Government Agencies.
  • Other End Users

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA
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