Global digital OOH market to reach $41.3 billion by 2030, report
The global market for Digital OOH estimated at $20.9 Billion in 2022, is projected to reach a revised size of $41.3 Billion by 2030, growing at a CAGR of 8.9% over the analysis period 2022-2030. This is according to a report by Research and Markets.
This report provides a comprehensive analysis of the Digital Out-of-Home (DOOH) market, beginning with an introduction to DOOH. It delves into the current market scenario and outlook for Digital OOH, offering insights into the evolving landscape of this advertising medium.
Billboard, one of the segments analyzed in the report, is projected to record 9.8% CAGR and reach $19.9 Billion by the end of the analysis period. Growth in the Transit segment is estimated at 8.5% CAGR for the next 8-year period.
The report offers a brief overview of trends that are shaping the DOOH market, highlighting the impact of digital billboards and their comparison to traditional billboards. It identifies transit media as an emerging growth vertical and discusses the rising demand for street furniture, showcasing different forms of street furniture.
The economic scenario and its impact on the Digital OOH market are explored, providing real GDP growth rates by country/region for the years 2018 through 2021. The competitive landscape of Digital OOH is analyzed, characterizing it as a fragmented marketplace. Recent market activity is discussed to provide readers with insights into developments and trends in the DOOH market.
The report also includes global outdoor advertising competitor revenues in US$ billion, showcasing the scale of this industry. Additionally, it presents global key competitors' percentage market share in 2022 and categorizes competitive market presence for players worldwide as strong, active, niche, or trivial.
The U.S. Market is Estimated at $6.6 Billion, While China is Forecast to Grow at 12.2% CAGR
The Digital OOH market in the U.S. is estimated at US$6.6 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$9.6 Billion by the year 2030 trailing a CAGR of 12.2% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.3% and 7.5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 7.2% CAGR.
