PUBLISHER: Allied Market Research | PRODUCT CODE: 1396866
PUBLISHER: Allied Market Research | PRODUCT CODE: 1396866
The global outdoor advertising market was valued at $23.9 billion in 2022, and is projected to reach $38.9 billion by 2032, growing at a CAGR of 5.1% from 2023 to 2032.The outdoor advertising market refers to the business sector that involves the buying, selling, and management of advertising space and inventory for outdoor media formats. It encompasses the activities of media owners, advertising agencies, and brands in planning, negotiating, and implementing outdoor advertising campaigns. This market encompasses the diverse range of outdoor advertising options available, from traditional static billboards to digital displays, and the continuous evolution of technologies and strategies to maximize the effectiveness of outdoor advertising.
The outdoor advertising market is witnessing several notable trends. The integration of technology is transforming the industry, with digital signage, programmatic advertising, and data-driven targeting becoming prevalent. Interactive and experiential campaigns that engage audiences in unique ways are gaining popularity. Sustainability and eco-friendly practices are also emerging as key trends, with a focus on using energy-efficient displays and incorporating recyclable materials. Cross-channel integration and the seamless integration of mobile and outdoor advertising are further trends shaping the market's future.
The rise in urbanization boosts the outdoor advertising market by offering a larger audience and high-footfall areas. With more people living and working in cities, outdoor ads can reach a diverse consumer base. Busy city environments provide ample opportunities for advertisers to engage with a captive audience and maximize the visibility and impact of outdoor ads, ensuring effective brand exposure and engagement.
Programmatic advertising has transformed the buying and selling of outdoor ad space. Automated platforms and algorithms enable advertisers to target specific audience segments based on demographics, behavior, and location, enhancing the efficiency and effectiveness of outdoor advertising campaigns. Programmatic capabilities in the outdoor advertising market have streamlined the process, allowing advertisers to optimize their campaigns and allocate budgets more effectively.
Outdoor advertising is a dynamic and visually impactful form of advertising that aims to engage consumers in public spaces. It utilizes billboards, transit advertisements, street furniture displays, digital signage, and other outdoor mediums to deliver brand messages. The nature of outdoor advertising allows for creativity in design, placement, and format selection, taking advantage of the physical environment to create memorable brand experiences.
The outdoor advertising market is segmented on the basis of Type, service, end user, and region. By type, the market is classified into traditional outdoor advertising and digital outdoor advertising. On the basis of service, it is fragmented into billboard advertising, transport advertising, street furniture advertising, place-based advertising, and others. Depending on the end user, it is segregated into executive BFSI, retail and consumer goods, healthcare, transportation and mobility, media and entertainment, hospitality, and others.
The players in the outdoor advertising market have adopted acquisition, business expansion, partnership, collaboration, and product launch as their key development strategies to increase profitability and improve their position in the market. The major players operating in the global outdoor advertising market are AdVision, Creative Outdoor, Primedia Outdoor, OUTFRONT Media Inc., Tyler Outdoor, Clear Channel Outdoor, LLC, Ocean Outdoor, Vector Media, oOhmedia Limited, Stroer CORE GmbH & Co. KG and JCDecaux.
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