PUBLISHER: Acute Market Reports | PRODUCT CODE: 1134308
PUBLISHER: Acute Market Reports | PRODUCT CODE: 1134308
Growing Digitization and Changing Dynamics of the Advertising Industry Is Driving the Digital Out-Of-Home Market
Globally, the digital out-of-home market is expected to grow with a CAGR of 10.0% during the forecast period from 2022 to 2030, starting from US$ 5.39 Bn in 2021. Changing dynamics of the advertising industry, and increasing digitization are the key factors attributed to the growth in digital out-of-home market. Globally, the ways of marketing and advertisement are changing based on recent technologies. Increasing need for real time tracking and being in touch with the advanced technologies is enabling the key players to be digitally sane and find ways that can help them reach a major chunk of the customer. This drives the adoption of digital out-of-home medium, worldwide.
Since past few years, the sales of advanced engagement devices and various other appliances has skyrocketed which has opened new avenues of the marketing and advertising industry. Digital out-of-home enables to cater the consumer needs and interests by using live data feeds. In addition, digital out-of-home market is positively affected by its cost-effectiveness and scope for continuous innovation. However, stringent regulations, and volatility of advertising budget, and lack of actual and thorough consumption data are some factors restraining the market growth during the forecast period.
Outdoor Application Segment Dominated the Global Market
In 2020, the digital out-of-home market was led by outdoor applications that held a market share of more than 70% of the total revenue generated. The adoption of outdoor displays is high across the globe as it is easy to display large advertisements in busy areas to attract attention of the people. Mainly in transportation sector, outdoor digital displays have a prominent role to play. Furthermore, outdoor displays or billboards can help reach a large customer base, which as a result can enhance the existing market size of the digital out-of-home market.
North America to Dominate the Market by Region
In the global digital out-of-home market, North America held a largest market share of more than 35% in 2020. Countries such as US and Canada are technologically sound, large number of companies are opting advanced marketing techniques that will enable them enhance their customer base and ultimately increase the sales revenue. However, increasing penetration of digitization, and growing awareness of advanced advertising techniques in Asia-Pacific and Middle East and Africa are driving the growth of digital out-of-home market in these regions.
Some of the prominent players operating in the digital out-of-home market include JCDecaux, Lama Advertising Company, Daktronics, OUTFRONT Media, Prismview LLC NEC Display Solutions Ltd., Broadsign International LLC, Oohmedia! Ltd., Ayuda Media System, Mvix, Inc., and Deepsky Corporation Ltd.
Historical & Forecast Period
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Digital Out-Of-Home market are as follows:
Research and development budgets of manufacturers and government spending
Revenues of key companies in the market segment
Number of end users and consumption volume, price and value.
Geographical revenues generate by countries considered in the report
Micro and macro environment factors that are currently influencing the Digital Out-Of-Home market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
ATTRIBUTE DETAILS
Research Period 2020-2030
Base Year 2021
Forecast Period 2022-2030
Historical Year 2020
Unit USD Million
Segmentation
Type
Billboard
Transit
Street Furniture
Others
Application
Indoor
Outdoor
Industry Vertical
BFSI
Telecom
Automotive
Personal Care & Household
Food & Beverages
Retail
Media & Entertainment
Others
Region Segment (2020-2030; US$ Million)
North America
U.S.
Canada
Rest of North America
UK and European Union
UK
Germany
Spain
Italy
France
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
GCC
Africa
Rest of Middle East and Africa
Global Impact of COVID-19 Segment (2020-2021; US$ Million )
Pre COVID-19 situation
Post COVID-19 situation
Key questions answered in this report:
What are the key micro and macro environmental factors that are impacting the growth of Digital Out-Of-Home market?
What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
Estimated forecast and market projections up to 2030.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment holds a larger market share and why?
Are low and middle-income economies investing in the Digital Out-Of-Home market?
Which is the largest regional market for Digital Out-Of-Home market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Which are the key trends driving Digital Out-Of-Home market growth?
Who are the key competitors and what are their key strategies to enhance their market presence in the Digital Out-Of-Home market worldwide?