The Out Of Home Advertising Market Is Estimated To Reach $43.96 Billion By 2027 At A CAGR Of 8.9% – Includes Out Of Home Advertising Market Analysis
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The rising urban population are expected to drive innovation in out of home advertising manufacturing, thus driving the market during the forecast period.
The global out of home advertising market is expected to grow from $28.48 billion in 2022 to $31.23 billion in 2023 at a compound annual growth rate (CAGR) of 9.7%. The ooh (out-of-home advertising) market is expected to grow from $43.96 billion in 2027 at a CAGR of 8.9%.
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Global Out Of Home Advertising Market Segments Include:
- By Type: Billboard, Transport, Street Furniture, Transit Displays, Other Types
- By Platform: Static, Digital
- By Application: Food and Beverage Industry, Vehicle Industry, Health and Medical Industry, Commercial and Personal Services, Consumer Goods, Other Applications
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global out of home advertising market in 2021.
Major Market Players in the out of home advertising market include Daktronics Inc., JCDecaux SA, Lamar Advertising Co., OUTFRONT Media, Inc., Ströer SE & Co. KGaA, Clear Channel Outdoor Holdings Inc.
Companies are increasingly using artificial intelligence to advertise their products. The major applications and benefits of artificial intelligence for digital out-of-home advertising are agile and trigger data-driven campaigns. For instance, McDonald’s used data like weather and time of day to remind consumers to promote ice cream sundaes on a hot day, and on the other hand, Coca-Cola promoted smart water when the temperature exceeded 21 degrees. Virgin Trains also used real-time traffic data to show motorists how much quicker their journey could have been by using trains. Therefore, AI and automation can optimise ads and update them creatively according to the data.
The Out Of Home Advertising Global Market Report 2023 provides a out of home advertising market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The out of home advertising market forecast analyzes out of home advertising market size, out of home advertising market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Out-of-home advertising, also known as outdoor advertising, refers to advertisements that reach customers while they are outside their homes. Out-of-home advertising publicizes a business’s products as well as its services. The purpose of advertising is to attract new customers by reaching out to them with an effective ad strategy.
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