Outdoor Advertising Market Size Worth US$ 53.9 Billion By 2028 | Industry CAGR of 6.5%

According to the latest report by IMARC Group, titled "Outdoor Advertising Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on outdoor advertising market. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global outdoor advertising market size reached US$ 36.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 53.9 Billion by 2028, exhibiting a growth rate (CAGR) of 6.5% during 2023-2028.

What are outdoor advertising?

Outdoor advertising, also referred to as out-of-home (OOH) advertising, is a popular method employed by businesses to promote their products, services, and relevant information to a large audience. It encompasses various mediums such as billboards, posters, train and taxi interiors, bus shelters, shopping centers, airports, kiosks, and sports stadiums. The use of outdoor advertising offers a cost-effective and durable solution with extensive coverage, surpassing other forms of advertising. Consequently, organizations across the globe are integrating outdoor advertising with other media platforms to enhance their brand visibility, expand their audience reach, and strengthen brand recognition.

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What are the growth prospects and trends in the outdoor advertising industry?

The outdoor advertising market is primarily driven by the expanding reach of the high-speed internet connectivity, the escalating digitization, and the increasing emphasis on targeted marketing. Moreover, the elevating proliferation of retail facilities and the growing number of individuals spending time outdoors are acting as significant growth-inducing factors. Apart from this, the launch of point-of-sale (POS) campaigns that have gained popularity as a way to promote limited or special edition products and drive impulse purchases and the introduction of vehicle and transit advertising utilizing printed graphics to capture attention in high-traffic areas and enhance brand awareness are also positively influencing the market growth. Additionally, the rising integration of advanced technologies in outdoor advertising by leading market players, which include near field communication (NFC) and artificial intelligence (AI) that has further enhanced the effectiveness of advertising campaigns by enabling real-time viewership analytics and targeting prospective consumers will continue to bolster the outdoor advertising market over the forecasted period.

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Outdoor Advertising Market Segmentation:
Our report has categorized the market based on region, type and segments.

Breakup by Type:
• Traditional
• Digital outdoor advertising

Breakup by Segments:
• Billboard
• Transport
• Street furniture
• Other

Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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This release was published on openPR.