Digital Out of Home Market

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.

The outbreak of COVID-19 has significantly impacted the growth of the outdoor advertisement solution in 2020; however, the rise in demand for digital signage solutions is expected to witness relatively high growth by the end of 2021. However, the market was principally hit by several obstacles created amid the COVID-19 pandemic such as lack of skilled workforce availability and delay or cancelation of projects owing to partial or complete lockdown globally. In contrast, the surge in adoption of smart infrastructure solutions across automotive, retail, and healthcare sectors drives the growth of the digital out of home market during the forecast period. The major end users of digital out of home include retail, manufacturing, production, and other large enterprises. Small & medium enterprises have witnessed a mix of trends for the demand with the outbreak of the global health crisis. Although the surge in demand for digital advertisement solutions and 3D out of home solutions offered significant considerable growth for the digital out of home market, the outbreak of the pandemic has disrupted the global supply chain, thereby creating a significant gap in the supply chain

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.

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.

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 significant market share during the forecast period.

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.

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

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the digital out of home market analysis from 2020 to 2031 to identify the prevailing digital out of home market opportunities.
• Digital out of home Industry research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the digital out of home market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global digital out of home market trends, key players, market segments, application areas, and market growth strategies.

 Digital Out of Home Market Report Highlights