Digital Out of Home Market Size to Touch USD 62.1 Billion by 2031 Owing to Rising Demand for Interactive Advertising

The Digital Out of Home (DOOH) Market is poised for significant growth, reaching an estimated USD 62.1 Billion by 2031, according to a report by SNS Insider. This growth is driven by the increasing demand for interactive advertising solutions. Unlike static billboards, DOOH displays offer real-time engagement, allowing advertisers to tailor messages to specific audiences and contexts. This dynamic approach delivers a more impactful advertising experience, driving customer engagement and brand recall.

The SNS Insider report reveals that the DOOH market reached a value of USD 26.18 Billion in 2023. Over the forecast period (2024-2031), the market is expected to grow at a Compound Annual Growth Rate (CAGR) of 11.4%.

• This growth is driven by various factors, Including, DOOH advertising offers a compelling alternative to traditional methods. The ability to target specific demographics in real-time makes it an attractive option for advertisers across various sectors.
• Compared to traditional advertising formats, DOOH offers greater value for money. Digital displays can be easily updated, eliminating the need for frequent printing and installation costs associated with static billboards.
• DOOH allows for interactive experiences, further enhancing audience engagement. Additionally, seamless data integration enables targeted advertising campaigns, maximizing return on investment (ROI) for brands.
• The growing global population concentrated in urban centers creates a massive audience for DOOH advertising. Strategically placed digital displays in high-traffic areas allow advertisers to reach a large number of potential customers efficiently.

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Top Companies Featured in Digital Out of Home Market Report:

• JCDecaux (France)
• Lamar Advertising Company (US)
• Clear Channel Outdoor Holdings Inc. (US)
• OUTFRONT Media (US)
• Prismview LLC (US)
• Daktronics (US)
• NEC Display Solutions Ltd. (Japan)
• Stroer SE & Co. KGaA (Germany)
• Broadsign International LLC. (Canada)
• oOhImedia Ltd. (Australia)
• Mvix Inc. (US)
• Christie Digital Systems USA Inc. (US)
• Ayuda Media Systems (US)
• Deepsky Corporation Ltd.(Hong Kong)
• Aoto Electronics Co. Ltd (China)

Recent developments in the DOOH market

October 2021: Ooh!media, a leading DOOH solution provider, partnered with WA Property Group Hawaiian to integrate digital media assets within its shopping centers, showcasing lucrative growth opportunities.

June 2022: JCDecaux and VIOOH launched their programmatic DOOH product for the Brazilian market, allowing brands to develop targeted campaigns across premium digital displays.

Digital Out of Home Industry Segmentation as Follows:

By Product

• Billboard
• Street Furniture
• Transit

By Vertical

• Commercial
  • Retail
  • Corporate and Government
  • Healthcare
  • Hospitality
• Infrastructural
  • Transportation
  • Entertainment
• Institutional
  • Banking, Financial Services, and Insurance (BFS1)
  • Education
• Other Verticals

by Vertical, The Commercial vertical, encompassing retail and hospitality sectors, is expected to hold the largest market share due to the increasing demand for interactive displays and kiosks to enhance customer experiences.

By Application

• Indoor
• Outdoor
• Displays Used in Digital Out-of-Home Advertising
  •  LCD
  • OLED Display
  • Direct-View Fine-Pixel Led
  • Direct-View Large-Pixel Led
  • E-Paper Display

by Application, the Outdoor applications, including transportation hubs, sports venues, and hospitality areas, are projected to dominate the market. This dominance is attributed to the high visibility and wide reach of digital billboards in these locations.

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Impact of Global Events

The Russia-Ukraine war and potential economic slowdown pose challenges to the DOOH market.  Disruptions in supply chains and increasing operational costs due to global events can affect the production and installation of digital displays.  Additionally, an economic slowdown may lead to reduced marketing budgets, impacting advertising spending in the DOOH sector. Example: The Russia-Ukraine war has disrupted global supply chains, impacting the availability of key components needed for digital displays. This can lead to delays in production and deployment of DOOH systems, potentially hindering market growth.

Key Regional Developments

– North America Region is expected to hold the largest market share due to its technological leadership in developing and implementing Advanced display technologies.  The early adoption of advanced display solutions in North America positions it as a global leader in the DOOH market.

– The Asia-Pacific region is growing with the significant growth rate, the APAC having the world’s largest population and a rapidly growing middle class with increasing purchasing power. This confluence of factors makes Asia-Pacific a significant growth for the DOOH market.  Consumers in the region are rapidly transitioning from traditional media to engaging digital platforms, creating a massive potential audience for DOOH advertising.

Key Takeaways

• The SNS Insider report on the Digital Out-of-Home Market offers valuable insights, including, Market sizing and growth projections for the DOOH industry.
• Key factors driving market expansion, such as rising demand for interactive advertising and increasing urbanization.
• Challenges Created by global events such as the Russia-Ukraine war and potential economic slowdown.
• The dominance of North America and the promising growth potential of the Asia-Pacific region in the DOOH market.

Table of Content – Major Key Points

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Digital Out of Home Market Segmentation, By Product
9. Digital Out of Home Market Segmentation, By Vertical
10. Digital Out of Home Market Segmentation, By Application
11. Regional Analysis
12. Company Profile
13. Competitive Landscape
14. USE Cases and Best Practices
15. Conclusion

Continued….

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