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Billboard And Outdoor Advertising Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends
Billboard And Outdoor Advertising Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $492.07 billion In 2028 At A CAGR Of 4.6% :
The billboard and outdoor advertising market size has grown strongly in recent years. It will grow from $390.77 billion in 2023 to $410.82 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to mobility and transportation changes, environmental considerations, cultural and social trends, competition and industry growth, innovations in design and creativity.
The billboard and outdoor advertising market size is expected to see steady growth in the next few years. It will grow to $492.07 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to digital transformation, targeted advertising solutions, mobile integration, augmented reality (ar) and virtual reality (vr), environmental sustainability. Major trends in the forecast period include cross-channel campaigns, interactive advertising, mobile integration, data-driven targeting, programmatic buying.
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Billboard And Outdoor Advertising Market Major Segments
The billboard and outdoor advertising market covered in this report is segmented -
1) By Type: Painted Billboards, Digital Billboards, Multi-purpose Billboards, Mobile Billboards, Other Types
2) By Application: Highways, Railway Stations, Buildings, Automobiles, Other Applications
3) By End-User: Retail, Banks & Financial Institutions, Commercial Buildings, Media & Entertainment, Government, Transportation
Key Driver - The Rise Of Digital Out-Of-Home (DOOH) Advertising Drives Growth In The Billboard And Outdoor Advertising Market
The increase in digital out-of-home (DOOH) advertising is expected to contribute to the growth of the billboard and outdoor advertising markets. Out of home (OOH) advertising refers to advertising outside of the home and includes billboards, bus shelters, wallscapes, and posters. Outdoor signage, digital billboards, and television screens are all examples of DOOH. In contrast to traditional billboards that show static images all the time, digital boards display more live images and can run multiple advertisements, thereby attracting more consumers. For instance, in August 2022, according to reports by SEO by Sociallyin, a UK-based search engine optimization agency, digital out-of-home advertising is projected to experience a substantial 19.2% growth in advertising spending, reaching an anticipated spending level of $3.84 billion in 2023. DOOH, in recent times, has seen lucrative growth and is expected to grow more in the forecast period because of its engaging and interactive nature.
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Prominent Trend - The Growth Of Programmatic Media Buying In Digital Out-Of-Home (DOOH) Advertising
The expansion of programmatic media buying is a growing trend in the field of digital out-of-home (DOOH) advertising. Programmatic advertising refers to the use of automated technology for buying advertising space in contrast to traditional methods of digital advertising. This method employs data insights and algorithms to display the appropriate advertisements to the appropriate person at the appropriate time and price. About 82% of viewers were able to recall a DOOH advertisement that they saw over a month ago. The brands have now expanded their in-house programmatic media buying capabilities. For instance, in April 2021, PubMatic, Inc., a sell-side platform that delivers superior results for digital advertising, announced today that BT, a multinational telecommunications company, and Essence, a data and measurement-driven agency part of GroupM, have successfully used a buyer-controlled fee structure to gain control and transparency over all programmatic inventory purchased through PubMatic. The collaboration between BT, Essence, and PubMatic has provided BT with improved visibility into how much of its total media spend reaches end publishers and has assisted them in investigating the 'unknown delta'-the lost or unaccounted-for ad spend between advertisers and publishers during a programmatic auction.
Billboard And Outdoor Advertising Market Players
Major companies operating in the billboard and outdoor advertising market report are Capitol Outdoor LLC, Titan Outdoor Holdings Inc., JCDecaux Group, Clear Channel Outdoor Holdings Inc., Lamar Advertising Company, Stroer SE & Co. KGaA, Outfront Media Inc., Vector Media Pvt. Ltd., Focus Media Holding Limited, Daktronics Inc., APG SGA AG, oOh!media Limited, Yesco Outdoor Media LLC, Posterscope Limited, Kinetic Worldwide Ltd., Intersection Co., Adams Outdoor Advertising Ltd., Watchfire Signs LLC, Primedia Pty Ltd., Ocean Outdoor UK Limited, Broadsign International LLC, Fairway Outdoor Advertising LLC, Prismview LLC, Talon Outdoor Limited, Formetco Incorporated, Ayuda Media Systems Ltd., Burkhart Advertising Inc., Exterion Media Uk Ltd., Vistar Media Inc., Allison Outdoor Advertising Ltd., Rapport Worldwide Ltd., Adomni Inc., ACME Intergalactic Inc.
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the billboard and outdoor advertising market in 2023. North America was the second largest region in the global billboard and outdoor advertising market analysis. The regions covered in the billboard and outdoor advertising market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Billboard And Outdoor Advertising Market Report Structure
3. Billboard And Outdoor Advertising Market Trends And Strategies
4. Billboard And Outdoor Advertising Market - Macro Economic Scenario
5. Billboard And Outdoor Advertising Market Size And Growth
…..
27. Billboard And Outdoor Advertising Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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