Press release
Trends Shaping Europe's Digital Out-of-Home Advertising Landscape
Digital Out of Home (DOOH) Market
The Digital Out-of-Home (DOOH) advertising market is witnessing substantial expansion, with its valuation reaching $25.84 billion in 2023 and projections indicating a growth to $54.33 billion by 2030, reflecting a Compound Annual Growth Rate (CAGR) of 11.2%. This surge is propelled by rapid digitization, a decline in traditional billboard demand, and the integration of advanced data analytics enhancing targeted advertising strategies.
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Competitive Landscape and Regional Demand
The DOOH market is characterized by a dynamic competitive landscape, featuring prominent players such as JCDecaux, Lamar Advertising Company, Clear Channel Outdoor Holdings, Inc., and OUTFRONT Media. These companies are increasingly adopting digital technologies to deliver interactive and engaging advertising experiences. Notably, the North America region held the highest market share in 2023, driven by technological advancements and a mature advertising ecosystem.
United States: Growth, Opportunities, and Trends
The United States DOOH market is experiencing significant growth, fueled by technological innovations and strategic acquisitions. A notable development is T-Mobile's acquisition of Vistar Media, an ad tech company specializing in DOOH advertising, for $600 million. This move aims to enhance T-Mobile's advertising capabilities by integrating Vistar's technology with its customer data, enabling more personalized advertising solutions.
Additionally, Publicis is acquiring data and ID technology group Lotame, aiming to double its consumer reach to 4 billion individuals, thereby enhancing its targeted marketing strategies.
Asia-Pacific: Trends and Consolidation
The Asia-Pacific region is witnessing notable trends and consolidation activities within the DOOH sector. In Australia, private equity groups are showing renewed interest in outdoor advertisers like oOh!media, which has seen a significant drop in share price since the pandemic. This interest indicates potential consolidation and restructuring efforts to optimize operations and capitalize on emerging opportunities in the DOOH market.
Europe: Trends and Updation
Europe's DOOH market is undergoing strategic evaluations amidst economic fluctuations. Stroeer, Germany's leading outdoor advertiser, has encountered challenges in its sale process due to economic uncertainties and valuation disagreements. Initially, private equity investors valued Stroeer's out-of-home advertising business at approximately €3 billion, while Stroeer sought nearly €4 billion. These developments highlight the need for adaptable strategies in response to evolving market conditions.
Middle East and Africa: Opportunities and Trends
The Middle East and Africa regions are emerging as promising markets for DOOH advertising, driven by urbanization and technological adoption. Companies are exploring innovative advertising solutions to engage diverse audiences, leveraging digital platforms to deliver contextually relevant content. This trend presents significant opportunities for growth and investment in the DOOH sector across these regions.
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Digital Out of Home (DOOH) Market segmentation :
by Format Type
Billboard
Transit
Street furniture
Others
The global digital out-of-home (DOOH) market is segmented by format type, including street furniture, transit, and billboards. In 2023, the billboard segment led the market in terms of revenue, and this trend is anticipated to continue throughout the forecast period. This is explained by how appealing the billboards are.
by Application
Outdoor
Indoor
The outdoor segment brought in the most money in 2023. The same segment would also have the fastest CAGR of 11.7 percent during the predicted period. Almost two-thirds of the global digital out-of-home market was made up of outdoor. This is a result of emerging economies' growing need for smart infrastructure solutions.
by End-User
Automotive
Personal care & households,
Entertainment
Retail
Food & beverages
Telecom
BFSI
Others
Automotive, personal care & homes, entertainment, retail, food & beverages, telecom, BFSI, and other end-user segments make up the DOOH market. The BFSI market is anticipated to expand at a rapid rate between 2023 and 2030. With almost one-fifth of the global digital out-of-home market in 2023, the vehicle category held the largest share. However, between 2023 and 2030, the entertainment industry is predicted to expand at the quickest CAGR of 12.5%. The sports and entertainment sectors' increasing need for digital advertising solutions is driving the market.
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Learn about the top players driving innovation in the Digital Out of Home (DOOH) Market :
1. JCDecaux (France)
2. Lamar Advertising Company (US)
3. Clear Channel Outdoor Holdings, Inc. (US)
4. OUTFRONT Media (US)
5. Prismview LLC (US)
6. Daktronics (US)
7. NEC Display Solutions, Ltd. (Japan)
8. Stroer SE & Co. KGaA (Germany)
9. Broadsign International LLC. (Canada)
10.oOh!media Ltd. (Australia)
11.Mvix, Inc. (US)
12.Christie Digital Systems USA, Inc. (US)
13.Ayuda Media Systems (US)
14.Deepsky Corporation Ltd. (Hong Kong)
15.Aoto Electronics Co., Ltd (China)
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