Digital Out of Home (DOOH) Market Growing at 11.3% CAGR to Reach $15,905.7 Million by 2027 Fuelled by Lightbox OOH Video network, Signagelive, Real Digital Media, Outfront Media, JCDecaux, Ayuda Media, Bell Media, Clear Channel Outdoor, Fairway Outdoor Ad

The global digital out of home (DOOH) market to grow at a CAGR of 11.3% to account to $15,905.7 Million by 2027 from $6,084.1 Million in 2018 Fuelled by Growing demand of Digital Advertising worldwide and Replacement of Traditional Billboards with Digital Billboards.

Asia Pacific was the leading geographic market and it is anticipated to continue contributing highest revenue throughout the forecast period. U.S digital out of home market is witnessing a high growth as it is a developed country and people are more tech-savvy. Furthermore, several companies are investing in digital out of home market in order to increase its market revenue and position.

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Market Insights:

The digital out of home market is swiftly switching towards digitalization as traditional advertisers gradually realize the value of trading static billboards for digital. Digital out of home can deliver content that responds to the audience directly. With the rising digital targeting tools, advertisers are targeting the audience and increase the overall effectiveness of their campaign.

Digital Out of Home (DOOH) Market Key Company Profiles:
• Ayuda Media Systems
• Bell Media, Inc.
• Clear Channel Outdoor Holdings, Inc.
• Fairway Outdoor Advertising
• JCDecaux
• Lamar Advertising Company
• Lightbox OOH Video network
• Outfront Media, Inc.
• Real Digital Media
• Signagelive

Consumers now have access to numerous modes, but they are more attracted to digital channels as they provide information on a real-time basis and they are more engaging. Digital modes are more accessible in generating a larger scope for highly developed conversations with consumers. A digital billboard is an effective form of advertisement which reaches people through an interactive way. Many government agencies depend on digital billboards to deliver emergency messages and allow the public to help law enforcement. In the U.S the adoption of digital billboards is high. U.S consumer gets attracted easily towards the billboards while crossing the roads. Hence, these factors are boosting digital out of home market.

Type Insights:

The global digital out of home market by type has been segmented into billboards, transits, street furniture and place – based. The billboards is the most common used form of advertisement. Billboards are rapidly shifting to larger screens with either static or animated images. The digitalization in billboard based advertisement techniques, as per the OOH industry is an advertisement alternative that has driven intimate, dynamic and enduring brand relationship with consumers. Hence, digital billboards are driving the global digital out of home market.

End User Insights:

By end-user the digital out of home market has been segmented into automotive, retail, consumer products, BFSI, telecom, and others. Under end user segment, retail is the leading industry in the global digital out of home market. The adoption of digital out of home market is high in this industry. Advertisement featured on digital display is mainly from retailers. For instance, in April 2019, H&M, a clothing retailer has executed a number of advanced installations, like an interactive voice mirror in Times Square, New York City. It is installed through a collaboration with digital signage provider Visual Art, digital experiences provider Ombori and Microsoft Corporation.

Strategic Insights:

Merger and acquisition was observed as the most adopted strategy in global digital out of home industry. Few of the recent developments are listed below:

2019: Broadsign International, Inc., a prominent provider of digital out-of-home marketing platform, agreed to acquire Ayuda, and the transaction is anticipated to close in the second quarter of 2019.

2018: Lamar Advertising Company announced the acquisition of Fairway Outdoor Advertising’s billboard operations in five U.S. markets from GTCR, LLC for a purchase price of $418.5 million. This all cash acquisition added more than 8,500 billboard faces, including more than 135 digital displays, in North Carolina, South Carolina, Georgia, and Wisconsin.

2018: JCDecaux SA announced the acquisition of APN Outdoor as the scheme of arrangement between APN Outdoor and its shareholders was approved by APN Outdoor shareholders.

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GLOBAL DIGITAL OUT OF HOME MARKET SEGMENTATION

By Type
• Billboards
• Transit
• Street Furniture
• Place-Based

By End User
• Automotive
• Retail
• Consumer Products
• BFSI
• Telecom
• Others

By Geography
• North America
o U.S.
o Canada
o Mexico

• Europe
o France
o Germany
o Italy
o Russia
o UK
o Spain
o Rest of Europe

• Asia Pacific
o South Korea
o China
o India
o Australia
o Japan
o Rest of Asia Pacific

• Middle East & Africa
o Saudi Arabia
o South Africa
o UAE
o Rest of MEA

• South America
o Brazil
o Argentina
o Rest of South America

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This release was published on openPR.