Category: Electronics & Semiconductor
Sub-category: Display Technology
Digital-Out-Of-Home (DOOH) is a type of advertising method, which reaches people outside their residential premises. This is done through billboards in bus stops, railway stations, airports, subways, and malls, among other public places. There is an increasing demand for Digital-out-of-Home advertising since billboards can display multiple advertisements on a single screen as well as increase brand recognition significantly. The digital advertising segment occupies a considerable share in the advertising market presently and is expected to witness phenomenal growth in the coming years. Almost every industry and sector opt for digital-out-of-home advertising such as retail, healthcare, sports, fitness, and banking, among others. This kind of advertising helps to reach a large number of people anywhere across the globe. The Digital-Out-Of-Home (DOOH) market was valued at $6.40 Billion in 2020 and is expected to reach $17.34 Billion by 2028 growing at the CAGR of 12.84% from 2021 to 2028.
The Asia-Pacific region is expected to witness high growth during the forecast period. This is attributed to the considerable GDP growth in this region. Further, the increasing investments in digital advertising are also estimated to grow, which may impact the Digital-Out-Of-Home (DOOH) market growth significantly. North America acquires the largest share in the Digital-out-of-Home market which is attributed to the region being the most technologically advanced. North America is home to cutting edge technology and higher awareness about the advantages of using digital advertising media. These factors are expected to positively influence the Digital-out-of-Home market in this region.
The Digital-Out-Of-Home (DOOH) market is influenced by the rapidly increasing adoption of digital advertising in the advertising sector and constant technological advancements.
Increasing demand for digital billboards
Unlike traditional billboards, which can only display a single advertisement for a certain period of time, digital billboards display multiple advertisements continuously. Digitized billboards attract more attention as compared to traditional billboards since it also consists of motion pictures, and effects. This helps to target a larger-masses leading to increasing brand recognition, which is expected to propel the digital-out-of-home market growth.
Rising trend for online broadcasting
Companies and advertisers are becoming increasingly aware of the benefits of online advertising instead of using traditional methods such as newspaper advertisements, distributing brochures and pamphlets, and posters. One of the major contributors to the growth of the Digital-out-of-Home Market is its environmental friendliness due to the usage of fewer paper-based advertisements. Companies are becoming more environmentally conscious which makes this method of advertising much more favorable thus leading to the digital-out-of-home market growth.
Rising awareness of the advantages of online billboards coupled with rapidly advancing technology is anticipated to be a major boost for the Digital-out-of-Home market growth. Additionally, since companies are becoming more concerned about the environmental damage, which is caused by deforestation, digital advertising is slowly becoming a less harmful alternative. This is also expected to drive the Digital-out-of-Home demand during the forecast period.
The cost of digital advertising is quite high in comparison to traditional billboards which is a deterrent to the Digital-out-of-Home market, especially for small and medium businesses. In addition to this, there are various content regulations regarding digital advertising in various regions. This is anticipated to negatively impact the market growth over the next few years.
Key Insight in the report:
The Global Digital-out-of-Home market report covers Executive Summary, Market Dynamics, Trend Analysis, Market Size and Forecast, Competitive Intelligence, Market Positioning, Product Benchmarking, and Opportunity Analysis.
The report covers extensive competitive intelligence which includes the following data points:
- Business Overview
- Business Model
- Financial Data
- Financial – Existing
- Financial – Funding
- Product Segment Analysis and specification
- Recent Development and Company Strategy Analysis
- SWOT Analysis
The report covers market sizing and forecasting at the country level as well as at the segment level. Digital-out-of-Home Market is analyzed across the below-mentioned different segments:
|Format type||Application||End User|
|Transit||Outdoor||Personal Care & Household|
|Food & Beverages|
The global Digital-out-of-Home market is categorized by format type, application, end-user, and region. Based on the format type, the Digital-ooH market is classified as Billboard, Transit, Street Furniture, and others. By application, it is segmented into indoor and outdoor. By end-user, it is bifurcated as, Automotive, Personal Care & Household, Entertainment, Retail, Food & Beverages, Telecom, BFSI, and others. By region, it is further sub-divided into North America, Europe, Asia Pacific, and the Rest of the World.
Digital-out-of-Home Market is also analyzed across below-mentioned regions/countries
Some of the key players in of the Digital-out-of-Home Market include:
- JCDecaux SA
- Lamar Advertising Company
- Fairway Outdoor Advertising
- Adspace Network Inc.
- Primedia Outdoor
- Bell Media
- Clear Channel Outdoor Holdings Inc.
- OUTFRONT Media
- Prismview LLC
- NEC Display Solutions Ltd.
- In December 2019, JCDecaux S.A., announced their partnership with PlayPlay, which is a tech startup company in France. This partnership provided the communication departments of local authorities which aid them in producing relevant and attractive content for their users. Furthermore, they also use the PlayPlay solution for external as well as internal communication of its business all over the world.
- In October 2019, JCDecaux S.A. acquired the advertising contract of the Lille metropolitan area public transport network after a very competitive process. They signed a contract with Transpole, which is a subsidiary of Keolis, a global leader in shared mobility. JCDecaux will be in charge of maintaining, servicing, and operating the advertising in public areas.
REPORT CONTENT BRIEF:
- High level analysis of the current and future market trends and opportunities
- Detailed analysis on current market drivers, restraining factors, and opportunities in the future
- Digital-out-of-Home market historical market size for year 2020, and forecast from 2021 to 2028
- Vendor market share analysis at each product level
- Competitor analysis with a detailed insight into its product segment, financial strength, and strategies adopted.
- Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations and partnerships as well as funding taken and investment done, among others.