Digital Out-of-Home Market Scope Report

Global Digital Out of Home Market (DOOH) Highlights Over 2023 - 2033

The global digital out-of-home market (DOOH) is estimated to garner a revenue of ~ USD 59 billion by the end of 2033 by growing at a CAGR of ~12% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~ USD 21 billion in the year 2022. DOOH (Digital Out-of-Home) advertising amalgamates traditional outdoor advertisement with digital elements to make more interactive, energetic, and vivacious advertisements. These advertisements deliver content to the people through digital billboards, elevator screens, and television screens as multiple animated images that stay for a short time. The increased demand for digital signage is the primary factor driving the growth of the global digital-out-of-home market (DOOH). As of 2022, the adoption of digital signage is increasing, with more than 59% of stores without digital signage planning to invest in the same in the coming two years.

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Digital signage, also known as electronic signage, comprises display technologies, including projection and LCD monitors to display videos, webpages, restaurant menus, digital images, marketing messages, and LED walls or video walls. The ability to grab the attention of the target audience, updating dynamic and contextual content, and cost-effectiveness are some benefits of using digital signage.

Global Digital Out of Home Market (DOOH): Growth Drivers and Challenges

Growth Drivers

• Growing Use of Cloud Computing – As of the beginning of 2022, more than 79% of enterprises have been observed to have deployed hybrid cloud solutions in their businesses. In cloud digital signage, a vendor needs to only host the physical screens and media players on their premises. The y can access the software on remote servers through the internet. Ease of installation, affordable pricing, scalability, remote control, elimination of in-house data servers, and real-time changes to the content are some benefits of using cloud digital signage.

• Rapid Increase in the Use of the Internet of Things (IoT) – It is estimated that by 2030 the number of devices expected to be connected to the internet should be more than 450 billion.

• High Possibilities for Audio-visual Transit Advertising – Bus advertising has become a high-reaching marketing medium by reaching ~49 million adults in two weeks.

• High Spending on Programmatic Advertising – In 2022, programmatic advertising constitutes more than 70% of all digital display advertising, a considerable growth compared to the ~61% in 2018.

Challenges

• Preference for Online Advertising for the Precise Tracking of Target Audience

• Interoperability of Devices Following Mediocre Standards

• Probable Issues with the Hardware Used

The global digital out-of-home market (DOOH) is segmented and analyzed for demand and supply by format into billboards, transit & transportation, street furniture, and place-based media. Of these, the billboards segment is anticipated to hold the largest market size by the end of 2033. The rise in digital signage is the main factor leading to the segmental growth in the market. For instance, digital signage is used as a channel by about half of communications professionals. High visibility, cost-effectiveness, ease of editing, and a space for creativity are other factors leading to the high adoption of the segment.

Global Digital Out of Home Market (DOOH) Regional Synopsis

Regionally, the global digital out of home market (DOOH) is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in the North American region is projected to hold the largest market share by the end of 2033. The high investment in DOOH in North America is the primary factor leading to regional market growth. For instance, the DOOH advertising spending in the U.S. is estimated to reach ~4 billion dollars by the end of 2023. The high economic progress and developments in display technologies are the other factors leading to the growth of the global digital-out-of-home market (DOOH) in North America.  

Market Segmentation

Our in-depth analysis of the global digital out-of-home market (DOOH) includes the following segments:

Key Companies Dominating the Global Digital Out-of-Home Market (DOOH)

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global digital out-of-home market (DOOH) that are included in our report are Lamar Advertising Company, JCDecaux, Broadsign, Mvix(USA), Inc., OUTFRONT Media Inc., and oOh!media Limited, Samsung Electronics Co., Ltd., Sharp NEC Display Solutions, Daktronics, Clear Channel Outdoor, LLC, and others.

Global Digital Out of Home Market (DOOH): Latest Developments

• April, 2022: Lamar Advertising Company announced partnering with Grocery TV to help advertisers activate simultaneously in large-format billboards and grocery stores by using their packaged premium inventories through a singular private marketplace (PMP) deal.

• June, 2022: JCDecaux announced adding programmatic buying capabilities to its locations of advertising at London’s Heathrow airport.

Key Reasons to Buy Our Report

• The report covers a detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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