Global digital-out-of-home advertising market to reach $ 50 billion by 2026, report
The global digital-out-of-home advertising market reached a value of $ 41.06 Billion in 2020 according to a recent report by Research and Markets.
The report expects the global digital-out-of-home advertising market to reach a value of $ 50.42 Billion by 2026, exhibiting a compounded annual growth rate of 3.58% during 2021-2026.
Digital out-of-home (OOH) advertisement refers to a dynamic communication medium displayed on digital signage. These advertisements are generally installed at airports, railway stations, bus shelters, medical waiting rooms, shopping malls, retail stores, movie theatres, and on major roadways.
With the growing internet penetration, advertisers are using virtual screens, projectors, motion graphics and video content for targeting specific demographics. This has led to the expansion of digital and internet-based advertising platforms across the globe. As a result, these ads are increasingly being adopted by manufacturers to promote their products in the market.
In recent years, advancements in technology, such as improved IoT connectivity, near field communication, artificial intelligence (AI), and beacons, have encouraged creativity in the DOOH industry.
Advertisers can now focus on developing screens that deliver contextually relevant, intelligent and real-time content. With the development of infrastructure and a growing number of shopping complexes and malls, there has been a rise in the number of people who spend time outdoors. As a result, companies are focusing on adopting digital OOH advertising as an advertising platform to help them reach a wider audience.
Moreover, the popularity of digital billboards has also been on the rise catalysed by their ability to engage audience effectively. Additionaly, the cost of digital advertisements has also declined over the past few years, increasing their affordability across organisations of all sizes.
This latest report provides a deep insight into the global digital OOH (out-of-home) advertising market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis and value chain analysis among others.
