Int'l : +1-503-894-6022 | Toll Free : +1-800-792-5285 | help@alliedmarketresearch.com
A04221 | Pages: 270 | Charts: 61 | Tables: 130 |
The global digital out of home market was valued at $18.80 billion in 2020, and is projected to reach $58.67 billion by 2031, growing at a CAGR of 11.6% from 2022 to 2031.
Digital out of home is a novel form of advertising that uses digital media for endorsing purposes outside the home. digital out of home, also known as digital signage, has effectively replaced the traditional and orthodox forms of marketing and advertising. This process enables advertisers and local vendors to engage their customers/audiences in real time to extract maximum effectiveness from marketing messages displayed using DOOH. It allows advertisers to reach target audiences in a real-life contexts. The digital out of home Market Size summarizes everything from digital billboards to screens in elevators and jukeboxes.
[COVIDIMPACTSTATEMENT]
In addition, digital out of home media offers users a unique chance to mix conventional advertising methods with a modern twist, allowing them to reach potential consumers. Moreover, the rise in demand for digital signage solution across automotive, retail, telecom, and healthcare sectors is anticipated to offer significant growth opportunities for the digital out of home market growth.
The digital out of home market Share is expected to witness notable growth during the forecast period, owing to reduced cost of digital screens across the globe. Furthermore, rapid digitization & decline in demand for traditional billboards drives the growth of the market. Moreover, ease in data integration is expected to propel the digital out of home market growth during the forecast period.
However, the surge in the trend of online/broadcast advertisement paired with complex and expensive digital signage are some of the prime factors that restrain the digital out of home market outlook. On the contrary, the rise in urbanization across emerging economies globally is expected to provide lucrative opportunities for the growth of the digital out of home industry during the forecast period.
The digital out of home market is segmented into End-User, Format Type, and Application.
[FORMATTYPEGRAPH]
On the basis of format type, the digital out of home market opportunity is divided into billboard, transit, street furniture, and others. The billboard segment dominated the market, in terms of revenue, in 2020, and is expected to follow the same trend during the forecast period.
[APPLICATIONGRAPH]
On the basis of application, it is bifurcated into indoor and outdoor. The outdoor segment was the highest revenue contributor in 2020 and is anticipated to garner a significant market share during the forecast period.
[ENDUSERGRAPH]
On the basis of end-user, the digital out of home market forecast is segmented into automotive, personal care & households, entertainment, retail, food & beverages, telecom, BFSI, and others. The others segment acquired the largest share in 2020, and the BFSI segment is expected to grow at a high CAGR from 2021 to 2030.
[REGIONGRAPH]
Region-wise, the digital out of home market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Russia, and the rest of Europe), Asia-Pacific (China, India, Japan, Australia, and the rest of the Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America, specifically the U.S., remains a significant participant in the global digital out of home industry. Major organizations and government institutions in the country are intensely putting resources into technology.
Competitive analysis and profiles of the major digital out of home market players that have been provided in the report include, such as Broadsign International, Inc., Clear Channel Outdoor Holdings, Inc., Daktronics, Inc., JCDecaux SA, Lamar Advertising Company, NEC Corporation, Ooh!mediaLtd, Outfront Media Inc., Samsung Electronics Co. Ltd., and MvixInc.
Key Benefits For Stakeholders
Key Market Segments
Key Market Players