Out of Home Advertising Market

Out of Home Advertising Market Size, Trends, Forecast (2023-2028)

The market value of Out of Home Advertising market is valued at 6.13 million US dollars in the year 2022 which is expected to increase the growth by 15.03 million US dollars by the end of 2028 with a compound annual growth rate of 17.13% during the forecast period 2023-2028. The Out of Home Advertising market value is expected to increase more during the forecast period.

Normally, the Out of Home Advertising is a dynamic communication medium which displayed on the digital signage in which these advertisements are generally installed at airports, railway stations, bus shelters, medical waiting rooms, retail stores, shopping malls, movie theatres as well as on the major roadways.

Recent Market Developments

• JCDecaux  company has partnered with Zompagnie francaise des expositions in the month of April 2019 for the french pavilion at the world expo which is to be held in between 20 October 2020 to 10 April 2021.
• In the month of April 2019, Posterscope which was Out of Home Advertising and location marketing specialist has collaborated with Wickes to rolls out Wicks first digital out of home campaign.
• Broadsign International Inc has made an agreement to acquire Ayuda Media Systems in the month of April 2019.

Driving Factors

Growing of advertisers using virtual screens, projectors, motion graphics as well as the video content for targeting the specific demographics is one of the major driving factor of Out of Home Advertising market growth rate.

Another major driving factor of the Out of Home Advertising market was rise in expansion of digital and internet based advertising platforms in both the emerging as well as developed economies propels the growth of revenue of Out of Home Advertisings market.

Other Factors such as Increasing of investments by the major key players for latest advancements in technology such as improved IoT connectivity near the field communication, AI (Artificial Intelligence) and beacon which have encouraged the creativity in the industry also helps the market to grow faster.

Another major growth driving factor of the Out of Home Advertising market was the increasing of internet penetration across the various economies of the globe.

Rising of urban population since there is an increase in spending power due to which the companies are targeting those regions are also some of the major driving factors which promotes the growth of the market of Out of Home Advertising revenue rate during the forecast period.

Challenges

Anticipatory lockdowns imposed by the government authorities to reduce the spread of the corona virus is one of the major restraint which hinders the growth of the Out of Home Advertising Market.

Uncertainity and debilitating economic conditions due to the pandemic is also one of the major restraint which hinders the growth of the Out of Home Advertising Market.

OUT OF HOME ADVERTISING MARKET REPORT COVERAGE:

Market Segmentation

The Out of Home Advertising market is segmented on the basis of application, on the basis of end user and on the basis of geography.

Out of Home Advertising Market - By Application:

the Out of Home Advertising market is segmented into Billboard, transit, street furniture, place based, malls and other types of applications. Among these segments, the billboards application segment holds the major share of the market among the others. This billboards segment is expected to hold the dominance during the forecast period.

Out of Home Advertising Market - End User:

the Out of Home Advertising market is segmented into retail, entertainment, leisure & film, personal care and luxury goods, finance, food & beverage, telecom & technology, automotive, services, travel and other types of end users. Among these segments, the entertainment segment holds the major share of the market and is expected to hold the dominance during the forecast period.

Regional Analysis

The Out of Home Advertising market is elaborated in various regions all around the world such as

1. North America
2. Asia Pacific
3. Europe
4. Latin America
5. Middle East & Africa

Asia Pacific region holds the major share of the market due to the factors such as rising in expansion of digital and internet-based advertising platforms in both the emerging as well as developed economies such as India and China help the growth of the market of Out of Home Advertisings in Asia Pacific region. Furthermore, increasing of investments by the major key players across the region is also one of the major driving factors propels the growth of the market of Out of Home Advertisings in Asia Pacific region. This Asia Pacific region is expected to hold the dominance during the forecast period.

North America region holds the second largest share of the market of Out of Home Advertisings owing to the growing demand for increasing of internet penetration across the various economies especially in some of the economies such as United States and Canada which is helping the market of Out of Home Advertisings to grow further in the North America region.

Europe region is expected to increase the market value of Out of Home Advertisings owing to the increasing of advertisers using virtual screens, projectors, motion graphics as well as the video content for targeting the specific demographics, rise in product innovation from various companies propels the growth of the market in Europe region.

Key market players

Some of the key market players of Out of Home Advertising market are: Daktronics Inc, OUTFRONT Media, JCDecaux Group, Clear channel outdoor holdings Inc, Lama advertising company.

Impact of COVID 19 on Out of Home Advertising Market

The Out of Home Advertising market has led to a decline in the quarterly GDP growth of noticeable countries across the world due to the lockdown situations imposed by the government authorities since most of the sporting events such as UEFA Euro 2020, Olympics and Paralympic games has been postponed in the view to eradicate the spread of the virus. As per the analysis the market will reach an impeccable growth in the upcoming years to come.