Digital Out of Home (OOH) is a type of advertising medium used for long; it has definitely been on account of the rising adoption of digital outdoor advertising. Digital OOH is impactful as it is larger than life and can come in varying shape, size, and format. It can effectively target customers by behavior, location, demographic, and day-part. All these factors are propelling their use across the globe and driving the digital out of home (OOH) market. The rising trade volumes, need to control trade-processing costs and to minimize operational risks drive the global digital out of home (OOH) advertising market.
MARKET SCOPE
The "Global Digital Out Of Home (OOH) Advertising Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the digital out of home (OOH) advertising market with detailed market segmentation by application, end user, and geography. The report provides key statistics on the market status of the leading digital out of home (OOH) advertising market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on application, the global digital out of home (OOH) advertising market is segmented into billboard, transit, street furniture, place-based, malls, and other applications.
- On the basis end user the market is segmented into retail, entertainment, personal care and luxury goods, finance, food and beverage, automotive, and others.
MARKET DYNAMICS
Drivers:
- The customer-attentive nature of this form of advertising, along with innovative and media fluency, is projected to continue to boost the growth prospects of the global digital out of the home (OOH) market. The digital out of home OOH media can deliver continually across customers of all demographics, a brand's message when they are out for any of their out of home activities. As many of the companies are realizing the importance of extending their marketing strategies outdoors, the demand for digital out of home (OOH) market is increasing.
- Moreover, with technological advancements ensuring innovative changes in the type of digital screen used for advertising, these forms of advertising are becoming increasingly more interactive and engaging.
Restraints:
- Volatility of the cost of advertising may hinder the growth of the digital out of home (OOH) advertising market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The digital out of home (OOH) advertising market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the digital out of home (OOH) advertising market in these regions.
IMPACT OF COVID-19ON DIGITAL OUT OF HOME (OOH) ADVERTISING MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the digital out of home (OOH) advertising market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from digital out of home (OOH) advertising market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the digital out of home (OOH) advertising market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ADFLOW Networks
- Clear Channel Outdoor Holdings Inc
- Daktronics Inc
- DISE International AB
- Four Winds Interactive
- JCDecaux Group
- Lama Advertising Company
- Omnivex Corporation
- OUTFRONT Media
- YCD Multimedia