The Worldwide Outdoor Advertising Industry is Expected to Reach $75 Billion by 2027
DUBLIN, Oct. 25, 2022 /PRNewswire/ -- The "Global Outdoor Advertising Market: Analysis By Medium Type (Traditional Outdoor Advertising, and Digital Outdoor Advertising), By Segment (Billboards, Transit, Street Furniture, and Others), By Region Size and Trends with Impact of COVID-19 and Forecast up to 2027" report has been added to ResearchAndMarkets.com's offering.
The global outdoor advertising market in 2021 stood at US$37.03 billion, and is likely to reach US$75.01 billion by 2027. In recent years, outdoor advertising has helped the advertiser to reach that audience who do not have access to traditional advertisements such as young generation, corporate guys and middle-class population thus allowing the advertiser to target particular demographics, ages, income, and ethnic groups.
Outdoor advertising is a type of advertising, which includes any type of advertisement which is done outdoor in order to publicize products and services.
Outdoor advertising has several advantages, including the capacity to make a strong impression on viewers, boosting brand awareness, reach a large audience, and be available around-the-clock, 365 days a year. Last but not least, outdoor advertising improves the visual environment. The global outdoor advertising market is projected to grow at a CAGR of 12.3% during the forecast period of 2022-2027.
Global Outdoor advertising Market Dynamics:
- Growth Drivers: The demand for various types of outdoor advertising has increased significantly in recent years due to the booming tourism industry, as the tourism increases the footfall in airports and other attractive places such as shopping malls would increase resulting in more consumer visibility and brand awareness. Further, the market is expected to grow, driven by growing programmatic digital display ad spending, increasing urban populace, accelerating economic growth, improving consumer confidence, etc. in recent years.
- Challenges: A person may use a phone call or video call to advertise products and services through outbound telemarketing. Since it takes less manpower, delivers messages with a high degree of personalization, and lowers indirect costs, this mode is increasingly more lucrative than out-of-home advertising media in developing countries. In the years to come, the need for outdoor advertising is projected to decline due to the increase in demand for this sector, posing a challenge to the market as a whole. Additionally, other factors like intense competition, stringent regulations, etc. are other challenges to the market.
- Market Trends: AI is being used in both advertising and automation to boost productivity. It is also being used to optimize the enormous volumes of data at disposal to produce better campaigns and have a greater influence on the advertising industry. Therefore, it is anticipated that the use of artificial intelligence to the outdoor advertising industry would increase demand throughout the upcoming years. More trends in the market are believed to grow the outdoor advertising market during the forecasted period, which may include increase in mobile 5G subscriptions, embracing the power of storytelling, creativity-driven ads, rising applications of anamorphic & 3D billboards, software advancement, developing beacon technology fondness, etc.
Impact Analysis of COVID-19 and Way Forward:
The COVID-19 brought many changes to the world, including a lack of consumer visibility, lack of cross-border mobility, labor shortage, and halted economic activities across the world, caused by the COVID-19 pandemic, resulting in the downfall in demand for outdoor advertising in various end-use industries which eventually had a negative impact on its market growth globally.
However, the post-pandemic market is anticipated to gain momentum as more people get vaccinated, there has been an increase in mobility at many touch-points, such as airports and shopping malls, and brands are gradually launching their campaigns. As people started returning to work, outdoor advertising exposure is also anticipated to increase.
Competitive Landscape and Recent Developments:
The market for outdoor advertising has typically been fragmented. Businesses are concentrating on introducing new features to satisfy customer expectations by providing a popular outdoor advertisement style. Additionally, vendors are extending their global reach thanks to a cutting-edge business strategy.
Major business activities are being undertaken by market participants, including mergers and acquisitions, collaborations, agreements, the launch of new products, international expansion, and others.
Further, key players in the outdoor advertising market are:
- JCDecaux SA
- Clear Channel Outdoor Holdings
- Stroer SE & Co. KGaA
- Lamar Media Corp.
- Outfront Media Inc.
- APG - SGA SA
- Focus Media Information Technology Co Ltd
- oOh!Media Ltd
- Asiaray Media Group
- Global Media & Entertainment Ltd.
- Al Arabia Outdoor Advertising
- Atairos (Ocean Outdoor Ltd.)
- Intersection Media, LLC.
Key Topics Covered:
1. Executive Summary
2. Introduction
3. Global Market Analysis
3.1 Global Outdoor Advertising Market: An Analysis
3.1.1 Global Outdoor Advertising Market: An Overview
3.1.2 Global Outdoor Advertising Market by Value
3.1.3 Global Outdoor Advertising Market by Medium Type (Traditional Outdoor Advertising, and Digital Outdoor Advertising)
3.1.4 Global Outdoor Advertising Market by Segment (Billboards, Transit, Street Furniture, and Others)
3.1.5 Global Outdoor Advertising Market by Region (Asia Pacific, North America, Europe, Middle East & Africa, and Latin America)
3.2 Global Outdoor Advertising Market: Medium Type Analysis
3.2.1 Global Outdoor Advertising Market by Type: An Overview
3.2.2 Global Traditional Outdoor Advertising Market by Value
3.2.3 Global Digital Outdoor Advertising Market by Value
4. Regional Market Analysis
5. Impact of COVID
5.1 Impact of COVID-19
5.1.1 Rising Online Penetration of Industries
5.1.2 Surge in Social Media Users
5.2 Post-COVID-19 Impact on Global Outdoor Advertising Market
6. Market Dynamics
6.1 Growth Driver
6.1.1 Booming Tourism Industry
6.1.2 Growing Programmatic Digital Display Ad Spending
6.1.3 Increasing Urban Populace
6.1.4 Accelerating Economic Growth
6.1.5 Improving Consumer Confidence
6.2 Challenges
6.2.1 Growing Outbound Telemarketing Market in Developing Economies
6.2.2 Intense Competition
6.2.3 Stringent Regulations
6.3 Market Trends
6.3.1 Involvement of Artificial Intelligence
6.3.2 Increase in Mobile 5G Subscriptions
6.3.3 Embracing the Power of Storytelling
6.3.4 Creativity-Driven Ads
6.3.5 Rising Applications of Anamorphic & 3D Billboards
6.3.6 Software Advancement
6.3.7 Developing Beacon Technology Fondness
7. Competitive Landscape
7.1 Global Outdoor Advertising Players by Market Share
7.2 The US Outdoor Advertising Players by Market Share
7.3 United Kingdom (UK) Outdoor Advertising Players by Market Share
8. Company Profiles
8.1 JCDecaux S.A.
8.1.1 Business Overview
8.1.2 Operating Business
8.1.3 Business Strategy
8.2 Clear Channel Outdoor Holdings Inc.
8.2.1 Business Overview
8.2.2 Operating Region
8.2.3 Business Strategy
8.3 Stroer SE & Co. KGaA
8.3.1 Business Overview
8.3.2 Operating Segment
8.3.3 Business Strategy
8.4 Outfront Media Inc.
8.4.1 Business Overview
8.4.2 Operating Segment
8.4.3 Business Strategy
8.5 APG - SGA Group
8.5.1 Business Overview
8.5.2 Operating Region
8.5.3 Business Strategy
8.6 oOh!Media Ltd.
8.6.1 Business Overview
8.6.2 Revenue by Format
8.6.3 Business Strategy
8.7 Asiaray Media Group Ltd
8.7.1 Business Overview
8.7.2 Operating Segment
8.7.3 Business Strategy
8.8 Al Arabia Outdoor Advertising
8.8.1 Business Overview
8.8.2 Business Strategy
8.9 Atairos (Ocean Outdoor Ltd.)
8.9.1 Business Overview
8.9.2 Business Strategy
8.10 Intersection Media, LLC
8.10.1 Business Overview
8.10.2 Business Strategy
8.11 Lamar Advertising Company
8.11.1 Business Overview
8.12 Focus Media Information Technology Co Ltd.
8.12.1 Business Overview
8.13 Global Media & Entertainment Ltd.
8.13.1 Business Overview
For more information about this report visit https://www.researchandmarkets.com/r/8ndiwi
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