Digital out of home (DOOH) Market is projected to Reach US$ 58.67 Billion by 2030, at a CAGR of 11.6% during the forecast period 2023-2030, Data By Contrive Datum Insights
Contrive Datum Insights Pvt Ltd
Updated 8 min read
Contrive Datum Insights Pvt Ltd
According to a market research study published by Contrive Datum Insights, North America is one of the biggest markets for digital out-of-home, Also rising quickly is the European DOOH market
Farmington, March 15, 2023 (GLOBE NEWSWIRE) -- The global Digital out of home (DOOH) Market was valued at USD 18.80 billion in 2022 and is projected to reach USD 58.67 Billion by 2030, growing at a CAGR of 11.6% from 2022 to 2030. Digital-out-of-home (DOOH) is a contemporary form of advertising that employs digital media to promote audio and video messages associated with out-of-home products or services. DOOH, also known as digital signage, has effectively supplanted conventional advertising and marketing methods. This process enables advertisers and local vendors to communicate with consumers in real time in order to measure the effectiveness of DOOH-displayed marketing messages. The DOOH market encompasses digital billboards, elevator screens, and jukebox displays.
Advances in mobile-based digital networks are enabling out-of-home digital advertisers to engage consumers anywhere with location-based advertising. As a result of technological advancements in digital outdoor advertising, digital outdoor advertising is replacing traditional outdoor advertising.
Digital out of home (DOOH) Market Recent Developments:
In July 2017, Clear Channel Airports, a division of Clear Channel Outdoor Holdings, Inc., entered into a five-year extension with Des Moines International Airport (USA) to provide out-of-home advertising solutions. This contract includes installation of digital and static enhancements.
In June 2017, Lamar Advertising Company and global entertainment company Paramount Pictures (USA) unveiled a dynamic, technology-driven digital out of home (DOOH) advertising campaign to promote their film "Transformers: The Last Knight." Using a network of digital billboards along with vehicle recognition technology, the company delivers personalized and contextual messages based on the make and model of the upcoming car.
In November 2022, HP India launched its latest range of HP specter 360 laptops with a multi-city programmatic out-of-home digital campaign launched through Lemma, the largest SSP for out-of-home digital products, and Yahoo as a demand-side platform.
In October 2022, StackAdapt, a leading self-serve programmatic advertising platform, today announced the offering of a new digital out-of-home (DOOH) channel globally through a partnership with Vistar Media, a leading global DOOH software provider.
Digital out of home (DOOH) Market Dynamics:
Market Drivers:
Increased spending on programmatic advertising is expected to be the primary growth driver for the global digital-out-of-home (DOOH) market over the forecast period. In addition, a greater emphasis on business intelligence and increased market competitiveness will contribute positively to market expansion.
Moreover, ongoing technological advances in display technology will drive the growth of the global digital-out-of-home (DOOH) market over the forecast period.
During the forecast period, rising urbanization in emerging economies around the world is anticipated to create lucrative growth opportunities for the digital out-of-home market.
In the near future, growing demand for Internet of Things (IoT) and the emergence of cloud platforms are anticipated to drive the growth of the global digital-out-of-home (DOOH) market. In addition, the expanding use of commercial displays in the advertising industry is anticipated to contribute to market expansion.
Market Restraints:
The growth of online/broadcast advertising and the complexity and expense of digital signage are among the most significant factors restraining the digital market.
Lack of interoperability standards between devices may hinder the growth of the global digital-out-of-home (DOOH) market over the forecast period.
Regional Outlook:
North America is one of the largest markets for digital out-of-home advertising, comprising a significant portion of the global market. The United States is the largest market in this industry because it is where the majority of new technologies are utilized and where the majority of the main players are located. The Canadian market is also anticipated to develop at a steady rate as a result of increased advertising spending and advancements in DOOH technology. The European DOOH market, which is led by the United Kingdom, France, and Germany, is also growing rapidly. Due to increased demand for DOOH products in retail, transportation, and healthcare, Europe's market is expanding. Due to the increasing use of digital technologies in the Asia-Pacific region, it is anticipated that the DOOH market will expand significantly in that region. China, Japan, and India are anticipated to contribute significantly to the expansion of the DOOH industry in the Asia-Pacific region.
Retail, Healthcare/Pharmaceuticals, Financial Services, Automotive, Telecom/Utilities, Government Agencies, Other
By Companies
JCDecaux Group, Clear Channel Outdoor Holdings Inc., BroadSign International LLC, Outfront Media, Daktronics Inc., Talon Outdoor Ltd, oOh!media Limited, QMS Media Limited, SevenOne Media, Stroer SE & Co. KGaA, Exterion Media Group, The Times Group, EyeMedia LLC, Prismview, and Others
Base Year
2022
Historical Year
2017 to 2021
Forecast Year
2023 to 2030
Digital out of home (DOOH) Market Key Segments Covered:
Top Market Players: JCDecaux Group, Clear Channel Outdoor Holdings Inc., BroadSign International LLC, Outfront Media, Daktronics Inc., Talon Outdoor Ltd, oOh!media Limited, QMS Media Limited, SevenOne Media, Stroer SE & Co. KGaA, Exterion Media Group, The Times Group, EyeMedia LLC, Prismview, and Others.
By Type:
Billboard
Transit
Street Furniture
Others
By Location:
Indoor
Outdoor
Other
By End-User:
Retail
Healthcare/Pharmaceuticals
Financial Services
Automotive
Telecom/Utilities
Government Agencies
Other
Regions and Countries Covered
North America: (US, Canada, Mexico, Rest of North America)
Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
Latin America: (Brazil, Argentina, Rest of Latin America)
Rest Of the World
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