Digital OOH Advertising Share

BROOKLYN, NY, USA, May 30, 2024 /EINPresswire.com/ -- IMARC Group, a leading market research company, has recently released a report titled "Digital OOH Advertising Market Report by Format Type (Digital Billboards, Video Advertising, Ambient Advertising, and Others), Application (Outdoor, Indoor), End-User (Retail, Recreation, Banking, Transportation, Education, and Others), and Region 2024-2032". The study provides a detailed analysis of the industry, including the digital ooh advertising market trends, size, share and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

The global digital OOH advertising market size reached US$ 19.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 49.8 Billion by 2032, exhibiting a growth rate (CAGR) of 10.8% during 2024-2032.

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Factors Affecting the Growth of the Digital OOH Advertising Industry:

Rapid Technological Advancements and Innovations:

The continuous technological advancements and innovations in digital out-of-home (DOOH) advertising to enhance its appeal and effectiveness are some of the major factors bolstering the market growth. Moreover, rapid innovations in display technologies, such as the advent of high-resolution light-emitting diode (LED) billboards, interactive screens, and augmented reality (AR) integrations, that transform traditional outdoor advertising spaces into dynamic and engaging platforms are acting as a growth-inducing factor. Furthermore, the integration of advanced connectivity and real-time data analytics to deliver more relevant and targeted content while enhancing the personalization and effectiveness of several ad campaigns is fostering the market growth. Along with this, the development of adaptive advertising strategies that adjust content based on various factors, such as audience demographics, time of day, weather conditions, and social media trends, is strengthening the market growth.

Ongoing Shift Towards Programmatic Advertising:

The integration of programmatic advertising into the DOOH sector to automate the buying, placement, and optimization of media inventory is creating a positive outlook for the market growth. Along with this, the increasing adoption of data analytics and artificial intelligence (AI) by advertisers, enabling them to create highly personalized and contextually relevant advertising campaigns, is anticipated to drive the market growth. Additionally, the rising ability to update and adapt content in real-time, based on audience behavior, weather conditions, or other external triggers to enhance the flexibility and relevance of advertising messages, is contributing to the market growth. Furthermore, the heightened efficiency and transparency of programmatic technology to streamline the ad buying process, reduce costs, and increase the overall return on investment (ROI) for advertisers is fostering the market growth.

Rising Urbanization and Changing Consumer Dynamics:

The rising urbanization, boosting the installation of digital billboards and displays in strategic locations, thereby increasing the visibility of DOOH advertisements, is providing an impetus to the market growth. Along with this, the increasing concentration of population in urban centers, leading to higher footfall and vehicular traffic, ensuring that digital advertisements reach a larger audience, is fueling the market growth. Besides this, the rising consumption of digital content on a daily basis, making consumers more receptive to digital advertisements, is boosting the market growth. Additionally, the growing mobility of urban populations as individuals spend considerable time outdoors, commuting, or in public spaces is acting as a growth-inducing factor. Furthermore, the increasing investment in DOOH advertising, as it provides an effective channel to capture the attention of potential customers in a cluttered media landscape, is favoring the market growth.

Digital OOH Advertising Market Report Segmentation:

By Format Type:

• Digital Billboards
• Video Advertising
• Ambient Advertising
• Others

Digital billboards accounted for the largest market share due to their large size, high visibility, and flexibility in displaying dynamic content to a wide audience.

By Application:

• Outdoor
• Indoor

The outdoor sector represented the largest segment due to the high consumer exposure in areas with significant foot and vehicular traffic.

By End-User:

• Retail
• Recreation
• Banking
• Transportation
• Education
• Others

The retail sector holds the largest market share as retailers extensively use DOOH advertising to drive foot traffic, enhance brand visibility, and promote time-sensitive deals.

Regional Insights:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

Asia Pacific's dominance in the digital OOH advertising market is attributed to its rapidly growing urbanization, increasing digitalization, and significant investments in advertising infrastructure.

Global Digital OOH Advertising Market Trends:

The integration of artificial intelligence (AI) in DOOH advertising, as it allows for the creation of adaptive and context-aware campaigns that can change based on various factors, such as viewer demographics, traffic patterns, and sentiment analysis gathered from social media trends, is catalyzing the market growth. Moreover, the growing emphasis on sustainability within the DOOH advertising ecosystem, as advertisers and operators adopt eco-friendly practices, including the use of solar-powered billboards and energy-efficient LED screens, is fueling the market growth. Furthermore, the advent of fifth-generation (5G) technology that enables faster data transmission, higher quality video content, and more dynamic interactive experiences, is boosting the market growth.

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Top Companies Operated in Digital OOH Advertising Industry:

• APG|SGA
• Clear Channel Outdoor Holdings Inc.
• Global Media
• JCDecaux
• Lamar Advertising Company
• oOh!media Limited
• Outfront Media Inc.
• Stroer

Key Highlights of the Report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
+ +1 631-791-1145
email us here

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