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Digital-Out-Of-Home (DOOH) Market Likely to Reach $8,393.30 Million, Globally, By 2023

12-18-2018 06:50 AM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

/ PR Agency: Allied Analytics
Digital-Out-Of-Home (DOOH) Market

Digital-Out-Of-Home (DOOH) Market

Allied Market Research’s report on “Global DOOH Market by Format type, Application type, and End User type: Global Opportunities Analysis and Industry Forecast, 2017-2023,” states that the global DOOH market held a revenue of $3,639.30 million in 2016, and is expected to amass $8,393.30 million by 2023, growing at a CAGR of 12.60% from 2017 to 2023.

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The growth of the digital-out-of-home (DOOH) market is attributed to factors such as rapid digitization and decrease in demand for traditional billboard, reduced cost of digital screen, and easy data integration. However, growing adoption of online broadcast advertising, volatile cost of advertising, lack of real-time and detailed consumption data, and variation in regulations with regards to DOOH advertising impede the growth of the market. On the other hand, the growing urban population offer lucrative opportunity to the industry growth.

Digital-out-of-home is digital mode of advertisement. This is used to target large audience across various locations such as airports, subways, bus stops, commercial buildings and others. DOOH advertising increases brand recognition through large audience engagement in real-time.
In 2016, billboard segment dominated the market, in terms of revenue, and this due to the increase in investment on huge investment on digital advertisements into various public places across various developed and developing nations.

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Europe was the highest revenue contributor to the global DOOH market in 2016, accounting for around 38.76% share. This is due to the surge in demand for digital signage across various industry verticals such as healthcare, financial services, government, and others.

The report features a competitive scenario of the global DOOH market and provides a comprehensive analysis of the key growth strategies adopted by the major market players. The key players profiled in the report include JCDecaux, Clear Channel Outdoor Holdings Inc., Lama Advertising Company, OUTFRONT Media, Daktronics, Prismview LLC NEC Display Solutions Ltd., Oohmedia! Ltd., Broadsign International LLC, and Aoto Electronics Co. These players have adopted competitive strategies, such as innovation, new product development, and market expansion, to boost the growth of the market.

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Key Findings of the DOOH Market:
• The billboard segment accounted for the highest share in 2016, growing at a CAGR of 12.80% from 2017 to 2023.
• Outdoor segment generated the highest revenue, accounting for $2,316.90 million in 2016.
• Europe is expected to dominate the market, in terms of market share of 32.7%, during the forecast period.

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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