Outdoor Advertising Market Segments, Industry Growth, Size, Share, Key Players, Report 2023-2028

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.

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Outdoor advertising, also known as out-of-home (OOH) advertising, is a marketing strategy that reaches consumers when they are outside their homes. This form of advertising encompasses various types, including billboards, transit advertisements, street furniture, and digital out-of-home (DOOH) displays. Billboards, the most recognizable form, are typically placed along highways and busy streets, offering high visibility to vehicular and pedestrian traffic. Transit advertisements appear on public transportation and related facilities, capturing the attention of daily commuters.

Street furniture advertising utilizes bus shelters, kiosks, and benches in urban areas to engage pedestrians. DOOH advertising, a rapidly growing segment, involves digital screens and interactive media in public spaces, offering dynamic and timely content. The advantage of outdoor advertising lies in its ability to provide broad exposure and high-impact visibility to a diverse audience. It is an effective tool for building brand awareness and reinforcing advertising messages, as it integrates seamlessly into the environment and can't be turned off like television or internet ads. Its physical presence and creative potential make it a valuable component of comprehensive marketing strategies.

Market Trends:

The global outdoor advertising market is majorly driven by the advent of digital technology, which has been transformative, introducing dynamic and interactive elements to traditional outdoor ads. Digital billboards and interactive kiosks offer advertisers the flexibility to update content in real-time, enabling more targeted and relevant advertising campaigns. This digital shift is expanding creative possibilities and effectiveness, attracting more advertisers to outdoor media. Additionally, economic development in emerging markets is another significant driver. Along with this, significant economic growth is leading to increased demand for advertising to reach expanding consumer bases. Urbanization trends also play a critical role, as more individuals moving to cities leads to higher traffic in public spaces, making outdoor advertising an appealing option for advertisers seeking to maximize visibility. In addition, the saturation of online and television advertising spaces is renewing interest in outdoor advertising. Advertisers are adopting ways to cut through the digital clutter and reach consumers in novel and engaging ways. Outdoor advertising, with its large-scale formats and real-world presence, offers a compelling alternative.

Therefore, this is significantly supporting the market. Moreover, changes in consumer behavior, such as increased time spent outdoors and commuting, further fuel the growth of the outdoor advertising market. Advertisers are capitalizing on these behavioral shifts to reach consumers during their daily routines. Apart from this, environmental sustainability is also becoming a significant consideration in the outdoor advertising industry. Furthermore, the adoption of solar-powered billboards and sustainable materials are being adopted to appeal to environmentally conscious consumers and companies, which is creating a positive market outlook.

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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.