Digital OOH Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2032
Page: 215 | Report Code: ICTM240425 | Research Suite: Report (PDF) & Market Data (Excel)
Digital out of home or DOOH is a marketing and advertising
which utilizes digital media in public spaces in order
to engage the targeted audience and unlike traditional out of home
advertising which relies on static images, it leverages digital screens,
billboards and signage’s to deliver dynamic content and messages. This Out of
home marketing and advertising allows for the real time updates, interactive
features and personalized messaging tailored for factors like location, time of
the day, or the audience demographics and with all of these it provides high
level of engagement with audiences. The key advantage of DOOH is its
flexibility and the creativity by which the advertisers may easily modify and
update the content on the digital screens which enables them to adapt campaigns
quickly and efficiently and also helps to extend the
targeting capabilities. The dynamic interactive nature of the digital screen
captures the viewers’ attention more effectively than the traditional
distributors, which leads to increase in engagement and brand recall and by
incorporating elements like motion detection, touch screen functionality and
more such features, the DOOH campaign creates immersive and memorable
experiences for the audience.
MARKET
OVERVIEW
The global market valuation of Digital OOH market was valued
at approximately USD 23 Billion in 2023 and is projected to reach USD 46.7
Billion in 2032 exhibiting a CAGR of 15.2% during the forecast period of
2024-2032, DOOH a powerful and a versatile medium for the marketers and
advertisers to connect with the consumers in today's digital life and its
ability to deliver dynamic and engaging content to the targeted public spaces
makes it an indispensable tool for the brands looking to stand out in a crowded
marketplace and drive meaningful interactions which leads the market towards
growth.
GROWTH
DRIVERS
The continuous advancements in the digital display
technology like higher resolution screens, interactive capabilities and
seamless integration with the digital platforms are driving the market towards
growth by enhancing the effectiveness and appeal of digital advertising. The
ongoing advancements attracts more advertisers to invest in DOOH campaigns and
the ongoing shift from traditional out of home advertising to digital formats
is one of a significant driver of the market growth as advertisers recognize
the benefits of the real time content updates, dynamic messaging and how
precisely they can target their audience which are offered by digital display.
The programmatic buying and selling platform streamlines
the process of buying and selling ad inventory, which makes it very easy for
the advertiser to reach their target audiences with greater flexibility and
audience and as public spaces become increasingly digitalized and organization
trends continue, the demand for DOOH advertising grows, driven by the high
traffic and visibility offered by urban environments. The advertisers seek for
targeted advertising solutions which is enabled by DOOH which allows them to
reach specific audience segments with relevant messaging based on location,
demographics and behavior and with integration of digital ecosystems like
mobile, social media and online platforms extends the reach and effectiveness
of these campaigns.
MARKET
SEGMENTATION:
·
By Industry Vertical Type- Automotive,
financial services, government, media and entertainment, retail, real estate,
restaurants, and others.
·
By Application Type-
Indoor and Outdoor
·
By Format Type- Billboards,
street furniture, transit and transportation, roadways, airways, railways,
marine, place-based media
·
By Region - North America,
Europe, Asia Pacific, the Middle East and Africa, and South America
Digital
OOH Market by Industrial Vertical Type Segment Review:
The DOOH advertising and marketing strategy finds
application across various industries and caters to different needs of the
diverse sectors like in the automotive sector the DOOH screens placed at
strategic locations like gas stations or auto dealership providers target
advertising for vehicle models, maintenance, service or financing options which
enhances the brand visibility and drives the customer engagement, in financial
services, they use DOOH screens in high traffic areas to promote the banking products,
investment services or insurance offerings with dynamic content to their
targeted audience. The government agencies utilize it as a communication tool
for public service, announcement, safety campaigns or civil initiatives which
enhances community engagement and awareness. The media and entertainment brands
uses it to captivate the audience with captivating
trailers previews or promotional content displayed on the screens in cinemas
and entertainment venues which drives their ticket sales and generates buzz
around the upcoming release. The retailers enhance the shopping experience with
the in store DOOH advertising by showcasing product demonstrations,
personalized offers and interactive displays tailored to customer preferences.
The real estate developers leverage this advertising to showcase property
listings and investment opportunities that capture the attention of potential
buyers and renters with virtual tours and neighborhood highlights, whereas the
restaurants utilize this for digital menu boards, promotional offers and brand
messaging which drives sales volume with mouthwatering images and menus.
Digital
OOH Market by Application Type Segment Review:
The indoor DOOH solution are employed in enclosed
environments like shopping malls airports retail stores or corporate offices
where they deliver targeted advertising messages to captivate the audience. The
indoor screens offer opportunities for interactive experiences product
demonstrations and personalized content which are tailored for specific
demographics and customer preferences that enhances the shopping experiences
and drives brand engagement whereas outdoor solutions are deployed in outdoor
environments like highways, city streets, transit stations or public squares
where they may reach a broader audience and commands the attention with large
format displays and dynamic content. The outdoor screens leverages
factors like location based, targeting, real time data or departing to deliver
relevant advertising messages that resonates with the customers on the move.
Digital
OOH Market by Format Type Segment Review:
The DOOH market is segmented in various types of formats
which each offers unique opportunities for the advertisers to reach the
audience like billboards presents the traditional yet impactful form of outdoor
advertising with digital displays offering dynamic content and greater
flexibility in messaging. Street furniture, that includes bus shelters, kiosks
and benches, provides advertisers with prime locations for engaging consumers
in urban environments whereas transit and transportation hubs like airports,
train stations and bus terminals offers high foot
traffic and captivates the audience which makes them an ideal venue for
advertising. The roadways present opportunities for their roadside billboards
and digital signage targeting drivers and passengers along highways. Airways
and railways offers to captivate audiences during
travelling with digital displays in airports, airplanes and train stations and
the marine environments including ferry terminals, cruise ships and more such
provides unique opportunities for advertising to reach travelers at sea
locations. Place based media encompasses a range of venues like shopping malls,
sports stadiums or entertainment venues where digital screens offers immersive brand experiences and targeted
messaging to the targeted audience.
Digital
OOH Market by Regional Analysis:
North America is a significant market for digital OOH driven
by the factors like high consumer spending and the demand for this solution to
reach customers in high traffic areas like malls airports and transit stations
and presence of big companies which utilizes this solution and presence of
global companies of the market this region. Europe is a prominent market driven
by the factors like diverse landscape of urban centers and transport networks
which offers ample opportunities for DOOH advertising. The Asia Pacific is a
rapidly growing market driven by the rising in disposable income and increasing
consumer spending on leisure and entertainment, where countries like China,
Japan and South Korea are the forefront of the digital innovation, coupled with
the region's large population and consumer demographics which offers the
advertisers for vast opportunity target specific audience segments and deliver
personalized messaging. The Middle East and Africa is a growing market driven
by the factors like increasing urbanization, infrastructure development and
investments in smart city initiatives. South America is a promising market
which is fueled by rapid urbanization, economic growth and increasing
digitalization in this region.
Key
Challenges:
The DOOH advertising raises privacy concerns as it is
related to the collection, use and sharing of personal data for targeting and
measured purposes, where the advertisers must adhere to data protection
regulations like GDPR in Europe and CCPI in the United States and that is one
of a significant key challenge for the market. Digital advertising channels
which also includes DOOH is vulnerable to add fraud or cyber security threats
where they may be malicious activities like add spoofing malware or data
breaches. In order to check audience attention and
drive engagement, the content must be relevant and compelling, while creating
and curating content that resonates with diverse audience demographics across
different locations may be challenging for the advertisers requires avoiding
content fatigue and continuous innovation and creativity in the content
development to captivate the audience interest.
Competitive
Landscape:
The network of who are responsible for deploying and
managing digital signage networks across various locations. Focusing on
expanding their network footprint for securing. Kim locations and attracting
advertisers through targeted audience and demographics and engagement metrics.
The technology providers offering hardware and software solutions for digital
signage and deployment content management and audience analysis where these
companies focus on developing innovative displays technologies content creating
tools and data analytics platform to enhance the effectiveness and efficiency
of the advertising. The data and analytics providers are offering solutions to
audience measurement, campaign performance tracking and optimization of the
advertising campaigns where they leverage data analytics, machine learning or
artificial intelligence technologies to collect, analyze and interpret audience
behavioral, demographic data and campaign metrics.
Global
Key Players:
·
JCDecaux
·
Stroer
·
Clear Channel Outdoor Holdings
·
Outfront Media
·
Broadsign
·
Lamar Advertising
·
Focus Media
·
Global Media
·
Daktronics
· OOh! media
Attributes |
Details |
Base Year |
2023 |
Trend Period |
2024 – 2032 |
Forecast Period |
2024 – 2032 |
Pages |
215 |
By Industry Vertical Type |
Automotive, financial
services, government, media and entertainment, retail, real estate,
restaurants, and others. |
By Application |
Indoor and Outdoor |
By Format Type |
Billboards, street
furniture, transit and transportation, roadways, airways, railways, marine,
place-based media |
By region |
North America, Europe,
Asia Pacific, the Middle East and Africa, and South America |
Company Profiles |
JCDecaux, Stroer, Clear
Channel Outdoor Holdings, Outfront Media, Broadsign, Lamar Advertising, Focus
Media, Global Media, Daktronics, OOh! media |
Edition |
1st edition |
Publication |
April 2024 |