The digital out-of-home advertising market is experiencing a significant boom, transforming urban landscapes into dynamic canvases for brand storytelling. According to The Brainy Insights, North America emerged as the largest market for the global Digital Out-of-Home Advertising market, holding a 34.89% share of the market revenue in 2023. The market is expected to grow from USD 15.35 Billion in 2023 to USD 84.24 Billion by 2033, at a CAGR of 18.56% during the forecast period 2024-2033.
Digital Out-of-Home advertising is gaining traction due to its attractiveness as a form of advertising. It offers the advantages of technology found in online display advertisements, such as enhanced traffic data and targeting capabilities. Additionally, it is immune to ad blockers, ensuring that users cannot skip these ads. DOOH advertising also surpasses traditional outdoor advertising by offering multiple ads in rotation within the physical confines of a single space.
Key players in the market are focusing on strategies such as product innovations, mergers & acquisitions, collaborations, and partnerships to enhance their market position. For example, JCDecaux SE recently secured a 6-year exclusive advertising agreement with Sporveien Media AS, expanding its market share in the Digital Out-of-Home Advertising market.
The market report covers various aspects such as revenue forecast, company profiles, competitive landscape, growth factors, and latest trends. The market is segmented based on format (billboards, place-based media, transit & transportation, and others) and application (outdoor and indoor). In 2023, the Billboard segment dominated the market with the largest market share of 65.76%, while the Outdoor segment led with a market share of 70.34%.
The demand for DOOH advertising is growing significantly worldwide, with an 82% ad recall rate. It is becoming the fastest-growing advertising channel, with a projected 24% growth in 2023. By 2027, it is expected to hold around 45% of the total OOH advertising consumption. DOOH advertising’s tailored content, interactive screens, and real-time data gathering capabilities are driving its popularity among marketers.
The North America region leads the global Digital Out-of-Home Advertising market, with a market share of 34.89% and a value of around USD 5.36 Billion in 2023. Factors contributing to this market share include the adoption of DOOH advertising in airports, commercial verticals, and rapid urbanization in countries like the US and Canada.
Key players in the market include JCDecaux, Daktronics Dr., Clear Channel Outdoor Holdings, Inc., Focus Media, Stroer SE & Co. KGaA, oOh!media Limited, Lamar Advertising Company, Broadsign International LLC., Global Outdoor Media Limited, and Outfront Media Inc.
In conclusion, the global Digital Out-of-Home Advertising market is poised for significant growth, driven by factors such as technological advancements, data-driven advertising solutions, and the shift towards digital technology in media. With the increasing demand for personalized DOOH advertising, the market is expected to expand further in the coming years.