Out-of-Home Advertising Global Market Report 2024

Out-of-home advertising, also recognized as outdoor advertising, involves delivering messages to consumers when they are away from their residences. This form of advertising aims to promote a business's products and services effectively in order to attract new customers.

Various types of out-of-home advertising include billboards, transport, street furniture, transit displays, and more. Billboards, for instance, are expansive outdoor advertising structures often situated in high-traffic locations such as major roads. These advertising platforms come in static and digital formats and are utilized by diverse industries, including the food and beverage sector, automotive industry, health and medical field, commercial and personal services, consumer goods, and others.

The out-of-home advertising market research report is one of a series of new reports from The Business Research Company that provides out-of-home advertising market statistics, including out-of-home advertising industry global market size, regional shares, competitors with an out-of-home advertising market share, detailed out-of-home advertising market segments, market trends and opportunities, and any further data you may need to thrive in the out-of-home advertising industry. This out-of-home advertising market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

The out-of-home advertising market size has grown strongly in recent years. It will grow from $29.8 billion in 2023 to $31.7 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The expansion witnessed in the historical period can be ascribed to the swift economic advancement in emerging markets, the surge of globalization, an increase in transit advertising, and the rapid development of technology.

The out-of-home advertising market size is expected to see steady growth in the next few years. It will grow to $38.39 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The anticipated growth in the forecast period can be attributed to the increasing pace of urbanization, the adoption of programmatic digital display advertisements, a rise in government spending on out-of-home advertising, and the expanding landscape of digital out-of-home advertising. Notable trends during this period encompass investments in digital platforms to enhance viewer experiences, the provision of interactive advertisements for influencing customers, the exploration of artificial intelligence deployment in ads to enable effective customer targeting, and the introduction of mobile-integrated out-of-home advertising to enhance customer interaction with the brand. Strategies embraced by key players in the out-of-home advertising market involve expanding operational and business presence through strategic acquisitions, developing innovative technologies and solutions via collaborations with technology players, and venturing into media business with a focus on digital transformation.

The expansion of the out-of-home advertising market can be attributed to the increasing urban population. The surge in urban residents contributes to elevated traffic congestion and longer waiting times. According to the INRIX 2020 Global Traffic Scorecard, London emerged as the most congested city in the UK. As of December 2022, the United Nations Conference on Trade and Development reported that the global urban population share was projected to reach 56.5% in 2021, with developed nations having a higher percentage (79.5%) compared to developing nations (51.8%). The UN World Urbanization Prospects revision anticipates a global urban population increase to 68% by 2050, with significant growth in India, China, and Nigeria. This rise in urban population, contributing to heightened traffic congestion, is a key driver of the out-of-home advertising market.

The anticipated growth in the out-of-home advertising market is further fueled by the expanding advertising budgets. Advertising budgets represent planned financial resources allocated by individuals, corporations, or organizations to promote their products, services, or ideas through advertising and marketing initiatives. Out-of-home advertising plays a crucial role in these budgets, offering a blend of reach, impact, and cost-effectiveness. Its role is typically tailored to the specific marketing goals and target audience of a company or organization, often integrated into broader advertising campaigns. For instance, in August 2022, OpenText Corporation, a Canada-based enterprise data management software developer, reported advertising expenditures of $59.6 million, $52.9 million, and $32.1 million for fiscal years 2022, 2021, and 2020, respectively. This upward trend in advertising budgets is a significant driver for the out-of-home advertising market.

Artificial intelligence is increasingly becoming a staple for companies in their advertising strategies. The key applications and advantages of employing artificial intelligence in digital out-of-home advertising lie in its ability to facilitate agile and data-driven campaigns. A noteworthy example is McDonald's use of data, such as weather conditions and time of day, to prompt consumers to indulge in ice cream sundaes on hot days. Conversely, Coca-Cola strategically promoted smart water when temperatures exceeded 21 degrees. Virgin Trains also leveraged real-time traffic data to demonstrate to motorists how much quicker their journey could have been by using trains. Thus, the integration of AI and automation enables the optimization of ads, creatively adapting them based on real-time data.

Major players in the out-of-home advertising market are increasingly focusing on strategic collaborations to better cater to the needs of their existing consumer base. Strategic collaborations involve agreements between two or more separate companies to work together toward mutually agreed-upon goals. For instance, in January 2023, Daktronics Inc., a US-based out-of-home advertising company, entered into a partnership with Elan Media Partners. This collaboration aimed to design, produce, and install 38 digital LED displays at Doha Out of Home (OOH) sites in the fall of 2022. These displays, strategically placed in some of Doha's busiest neighborhoods, played a crucial role in supporting numerous marketers and sponsors during a global event attended by millions. The screens offered exceptionally sharp and dynamic graphics with millions of hues, enhancing the vibrancy of businesses' creativity and intended messaging.

In October 2021, American Outdoor, a US-based outdoor advertising firm, acquired assets from Juggernaut Billboards for an undisclosed amount. This acquisition further expands American Outdoor Advertising's portfolio, already covering major markets in Arizona, Nevada, and California. Juggernaut Billboards, based in the US, specializes in billboard and mobile billboard advertising services in Puerto Rico, Arizona, Texas, and Mexico.

Major companies operating in the out-of-home advertising market report are JCDecaux Group, Clear Channel Outdoor Holdings, Inc., Lamar Advertising Company, OUTFRONT Media Inc., Focus Media Information Technology, Stroer SE & Co KGaA, Daktronics Inc., oOh!media Limited, APG SGA, Exterion Media Group, Broadsign International LLC, Talon Outdoor Ltd., Ooh!Media Limited, Jives Media, Commcreative, Webfx, The Times Group, Eye Media LLC, WA Logistik Gmbh, Wall Gmbh, DSM Deutsche Stadte Medien Gmbh, Stroer Media Deutschland Gmbh, MOPLAK Medien Service Gmbh, Blowup Media Gmbh, Externa Spa, Boca SRL, Europe Media SRL, Esotas SRL, Mediakom SRL, RMAA Group, Transit Media Group, SUN OOH Media, Ideacomm, Adboard Media, Phil-O-Media, Media Motion, MK OOH Media, Interbus, Screen Media, Adquick, Sizmek Technologies, Inc., Intersection Media Holdings, Inc., Pattison Outdoor Advertising Limited Partnership, Newad Media Inc., Anchour, Starfish, Manifesto Agency, Astral Media Outdoor, L.P, Cameron Advertising Displays Limited, Fluent, Inc., Eletromidia SA, One Brasil Midia Interativa SA, J.Chebly Empreendimentos De Publicidade SA, Chase Marketing Promocoes E Eventos Ltda, Plamarc Ltda, Creatika Spa, Gyt Business Group SPA, Grafica Nueva SA, Ykone, Jeddah, Cdecaux SA, Posterscope, Sharp NEC Display Solutions, Hills Advertising L.L.C, Backlite Media, 365 Digital, Primedia Outdoor, OHMSA, Kong Marketing Agency

Asia-Pacific was the largest region in the out-of-home advertising market in 2023. North America was the second largest region in the global out-of-home advertising market share. The regions covered in the out-of-home advertising market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the out-of-home advertising market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain

The Out-of-Home Advertising market consists of revenue earned by entities by providing services such as planning, developing, creating and managing advertisement and promotional activities in out of home advertisement facilities. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Out-of-Home Advertising Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on out-of-home advertising market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for out-of-home advertising? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The out-of-home advertising market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Type: Billboard; Street Furniture; Transit; Other Types
• 2) By Platform: Static; Digital
• 3) By End User: Vehicle Industry; Food & Beverage Industry; Commercial And Personal Services; Consumer Goods; Health And Medical Industry And Others
• Companies Mentioned: JCDecaux Group; Clear Channel Outdoor Holdings, Inc; Lamar Advertising Company; OUTFRONT Media Inc; Focus Media Information Technology
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery Format: PDF, Word and Excel Data Dashboard.