Digital out of home is a type of advertising, which reaches the consumers when they are out of their homes through digital billboards in airports, subways, bus stops and street furniture’s among others. The advertisers are rapidly opting for digital out of home advertising as it increases the brand recognition as well as the digital billboards are capable of showing multiple ads in one single screen.
As most of the people spend their time out of home going to work, malls and different places the advertisers wants their products or brands to reach every people around the globe. The advertisers for digital out of home advertising includes retailers, banking, entertainment, automobile, food and beverages among others. Currently the digital advertising holds the largest share in terms of revenue in the global advertising industry and it expected to grow rapidly over the years and register double digit CAGR over the forecast period, which in turn will enhance the market for global digital out of home advertising.
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The global digital out of home advertising market is primarily driven by the adaption of digital advertising in the advertising sector and the advertisers are opting for digital out of home advertising in order for better brand recognition and penetration to consumers, as consumers spend most of their time outside commuting through subways buses, taxis and subways. With recent technological developments in the digital out of home advertising, the digital out of home advertising is being taken to a different level.
For instance, one of the prominent player Ocean Outdoors Media Eyes launched a new technology for digital out of home advertising where three LED screens along with cameras and sensors, which recognize the age group of people passing by the digital billboard, and displays as per the audience. The regulations for digital out of home advertising such as the content and size in different regions and the volatile cost of digital out of home advertising might pose as a restraint to the global digital out of home advertising market.
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Based on the geographic regions, global digital out of home advertising market is segmented into seven key market segments namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan, and Middle East & Africa. Among the aforementioned regions, the Latin America market and the Asia-Pacific market for digital out of home advertising will be the fastest growing, attributed to the expected increase in the GDP in these regions and increase in the ad spending.
The Middle East & Africa market for digital out of home advertising is expected to hold the third market position by the end of forecast period surpassing the North America market and Western Europe market for digital out of home advertising. Overall, the global digital out of home advertising market will register a double digit CAGR over the forecast period.
Some of the major players identified in the global digital out of home advertising market includes, JCDecaux SA, Lamar Advertising Company, Fairway Outdoor Advertising, Adspace Network, Inc., Primedia Outdoor and Bell Media among others.
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