Zdroj: https://www.mordorintelligence.com/industry-reports/digital-ooh-market
The digital OOH market size is estimated to be USD 23.06 billion in 2024 and is expected to reach USD 46.79 billion by 2029, growing at a CAGR of 15.20% during the forecast period (2024-2029), which is an incredible figure.
Let's look together at the facts that literally play into the hands of this dynamically developing medium.
- DOOH is a very cost-effective way to reach a wide range of audiences and its use is growing.
- Increasing urbanization and infrastructure development across the globe is expected to continue to drive market growth during this forecast period. Rising spending on outdoor advertising by various industries is again boosting the market expansion, as the effectiveness of the medium also lies in rotating more ads on a single screen.
- DOOH is also increasingly popular because it helps to increase brand awareness and is a handy (not only) complementary channel for brand communication.
- As we've shown many times before with research studies from this actively growing industry, people are spending more time away from their offices and homes, and OOH allows companies to reach large numbers of people regularly and relatively quickly.
- COVID-19 has had a significant impact on the expansion of the OOH market: during the pandemic, the decline in demand for digital signage solutions in key industries has significantly affected the development of digital OOH solutions. In addition, the lack of a competent workforce during the pandemic hampered the expansion of the DOOH market.
Key global trends shaping the DOOH market
- Transit accounts for a significant share of the digital OOH advertising market
- The demand for digital content and information relevant to riders has resulted in interactive advertising through various modes of advertising such as kiosks, billboards, and bulletin boards, contributing to a large share of the growth in transit media revenue.
- As a result, there has been a change in consumer behavior in terms of customer interaction across all means of transport, enabling companies to strategically develop their brands in the minds of customers. In the next three years, this will lead to an outflow of potential customers away from traditional media.
- Transport is the most important segment, as public transport is the preferred mode of transport for a large part of the population in Europe and Asia Pacific due to a mature and dense public transport infrastructure.
- Airports are an attractive environment for advertising, especially for high-end and luxury products, among many modes of transport. Airports are under increasing pressure to find new techniques to generate revenue. By converting static displays such as posters into digital presentations, airports can offer several sponsors instead of one. This will significantly increase revenue. In addition, by involving advertising partners, airports can share the costs of upgrading to new technologies.
- After airports, railways have also seen a significant increase in the incidence of DOOH: the growing demand for 'smart' railway stations in emerging economies is increasing the demand for DOOH.
Source: https://www.mordorintelligence.com/industry-reports/digital-ooh-market
- Asia and the Pacific, in particular, has seen significant growth, as it has the largest population of any region. With the increase in urban population and increased purchasing power, they are thus considered one of the largest growing markets for DOOH and OOH
- Consumers in Asia Pacific and other emerging countries are following in the footsteps of their Western counterparts and are rapidly shifting from traditional media channels to attractive digital media. This, in turn, is leading to the growth of the DOOH advertising market across the region as Western counterparts, especially the North American region, have a significant presence in the market.
- Transportation is the most dominant segment, as public transportation is the primary choice for a significant portion of the population in Asia Pacific, owing to the advanced and dense public transportation infrastructure.
- In addition, the region is dominated by local players, (e.g. Times Internet and Shanghai Media Group), with major players such as JCDecaux also having a significant market share in the region.
Zdroj: https://www.mordorintelligence.com/industry-reports/digital-ooh-market
Overview of key DOOH milestones
The DOOH market is currently already very fragmented. The industry consists of several large outdoor advertising and media companies operating in multiple markets, as well as smaller local companies operating a limited number of structures in one or a few local markets.
- August 2021 - Airsqreen introduced an advertising platform for DOOH. This simple technology connects advertisers with screen operators, providing the industry with a new level of trust and revenue opportunities. Airsqreen has created a simple and cost-effective solution that brings complete transparency to DOOH advertising through real-time verification and creates new operational efficiencies.
- January 2022 - Hivestack launched a programmatic digital out-of-home (DOOH) marketplace in Malaysia. Hivestack announced agreements with GroupM in 14 countries and with Posterscope, a Dentsu-owned company, which has already activated a live campaign in December 2021. These agency customers can now use data-driven audience targeting to run campaigns both within Malaysia and across Hivestack's premium global network. Hivestack has also secured some of the largest and most powerful OOH/DOOH media owners in Malaysia including BIG Tree, Seni Jaya, Spectrum, Laguna, Lantern Media, Sky Blue, Power Screen, WOW Media, Era Jaya and AOS Media through the Hivestack Supply Side Platform (SSP). These media owners can monetise their premium DOOH inventory by connecting to a global group of real-time advertisers.
- June 2022 - JCDecaux has announced the launch of a programmatic DOOH product for the Brazilian market in partnership with VIOOH. JCDecaux will be able to offer its customers effective programmatic DOOH campaigns on its premium screens across Brazil using VIOOH's platform, helping brands make meaningful connections with people and ensuring they make the most of their media spend.
- April 2022 - Adani Airports will offer digital OOH media with programmatic support through Lemma. Adani airports, an airline incubated by Adani Enterprises Ltd, a leader in integrated infrastructure and transportation companies, is providing digital OOH media with programmatic advertising across its portfolio of airports in India. The adoption of programmatic advertising is a revolutionary step in the airport ecosystem, which aims to update India's major airports with the latest infrastructure and technology. With eight airports under its management and expansion, AAHL is India's largest airport infrastructure company, accounting for 25% of airport traffic, enabling brands and marketers to connect with different audience segments through the programmatic channel.
Source: https://www.mordorintelligence.com/industry-reports/digital-ooh-market
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