Digital Out of Home (DOOH) Market- Industry Analysis and Forecast (2022-2029)

Digital Out of Home (DOOH) Market size was valued at US$ 20.91 Bn. in 2021 and the total revenue is expected to grow at 11.2% through 2022 to 2029, reaching nearly US$ 48.88 Bn.
Digital Out of Home (DOOH) Market Overview:
DOOH or Digital Out of Home is a modern form of advertising that uses digital media to promote audio and video messages about products or services outside the home. DOOH, also known as digital signage, has largely supplanted traditional and conventional forms of advertising and marketing. This process allows advertisers and local vendors to engage their customers in real time in order to track the effectiveness of marketing messages displayed via DOOH. The DOOH market encompasses everything from digital billboards to elevator screens and jukeboxes. Because of the lower cost of digital screens around the world, the digital out of home market share is expected to grow significantly during the forecast period. Furthermore, rapid digitization and a decline in demand for traditional billboards have fueled market growth. Furthermore, the ease of data integration is expected to drive market growth during the forecast period. (2022-2029).To know about the Research Methodology :- Request Free Sample Report

The rise in digitization and decline in demand for traditional billboards, combined with easy data integration, are significant factors influencing the growth of the global digital out of home industry. The increasing use of commercial display in advertising, which is a powerful medium for promotion across all sectors and applications, is supporting market growth. The cost-effectiveness of digital displays drives the DOOH market. To increase their market share, players in this market must constantly seek out unique product implementations and develop complementary products and innovative services. Digital out of home marketing allows for more effective marketing with digital billboards, interactive campaigns, and weekly promotion on a larger scale without wasting paper for printed boards.
Digital Out of Home (DOOH) Market Dynamics
Digital Out of Home (DOOH) Market Drivers:

• An increase in programmatic advertising spending is a key driving factor that is expected to boost global digital-out-of-home (DOOH) market growth during the forecast period. Furthermore, the increasing emphasis on business intelligence and the rise in market competitiveness will have a positive impact on market growth.

• Furthermore, continuous technological advancements in display technologies will propel the global digital-out-of-home (DOOH) market growth over the forecast period.

• During the forecast period, the rise in urbanisation across emerging economies globally is expected to provide lucrative opportunities for the growth of the digital out of home market.

• Moreover, the increase in demand for Internet of Things (IoT) and emergence of the cloud platform is anticipated to drive the global digital-out-of-home (DOOH) market growth in near future. In addition, the growing utilization of commercial displays in the advertising sector is anticipated to support the market growth.
Outdoor applications to have the largest market share during the forecast period

• Outdoor displays are popular in the transportation, sports, and hospitality industries. During the forecast period, outdoor advertising is expected to have a high penetration in the transportation vertical. Large advertisements on billboards are typically displayed in high-traffic areas for passing pedestrians and drivers. This attracts a large number of customers because the advertisements are prominently displayed on express highways and in high-density consumer exposure areas. Digital billboards are created with computer software to allow for outdoor advertising. Text that is constantly changing or blinking has an impact on customers and allows for broad exposure to the targeted audience.

Digital Out of Home (DOOH) Market Restraints:

• The rise of online/broadcast advertising, combined with complex and costly digital signage, are some of the primary factors restraining the digital out of home market.
• A lack of standards for interoperability between devices may have an impact on the global digital-out-of-home (DOOH) market growth over the forecast period.
Digital Out of Home (DOOH) Market Segment Analysis:
The global digital out of home (DOOH) market is segmented based on format type, application and end-user.

On the basis of format type, the global digital out of home (DOOH) market is divided into billboard, transit, street furniture, and others. In terms of revenue, the billboard segment dominated the market in 2022 and is expected to continue in the forecast period. This is attributed to the billboards' attractiveness.

Based on application, the Digital Out of Home Market is bifurcated into indoor and outdoor.

In 2021, the outdoor segment generated the most revenue. During the forecast period, the same segment would also have the fastest CAGR of 11.7 percent. Outdoor accounted for nearly two-thirds of the global digital out-of-home market. This is because demand for smart infrastructure solutions is increasing in emerging economies.

By end-user, the DOOH market is segmented into automotive, personal care & households, entertainment, retail, food & beverages, telecom, BFSI, and others. BFSI segment is expected to grow at a high CAGR from 2022 to 2029. In 2021, the automotive segment accounted for the lion's share, accounting for roughly one-fifth of the global digital out of home market. The entertainment sector, on the other hand, is expected to grow at the fastest CAGR of 12.5 percent between 2021 and 2029. The growing demand for digital advertising solutions in the sports and entertainment industries is propelling the segment forward.
Digital Out of Home (DOOH) Market Regional Insights:
During the forecast period, North America is expected to hold the largest share and dominate the digital out of home (DOOH) market. North America, being most technologically advanced, is a market leader in providing cutting-edge technology used in the advertising sector. North America is an early adopter of new display technology, and there is a growing awareness of the advantages of commercial displays in the region.

Asia Pacific – Asia Pacific is the second largest market for DOOH and it is estimated to hold it’s position and fast growth due to adoption of tech in its untapped markets.

The report's goal is to provide industry stakeholders with a comprehensive analysis of the Digital Out of Home (DOOH) market. The report analyses complicated data in simple language and presents the past and current state of the industry, as well as forecasted market size and trends. The report examines all aspects of the industry, including a detailed examination of key players such as market leaders, followers, and new entrants.

The report includes a PORTER and PESTEL analysis, as well as the potential impact of market microeconomic factors. External and internal factors that are expected to have a positive or negative impact on the business have been examined, providing a clear future outlook.

The report also aids in understanding the dynamics and structure of the Digital Out of Home (DOOH) market by analysing market segments and projecting the Digital Out of Home (DOOH) market size. The report serves as an investor's guide by providing a clear representation of competitive analysis of key players in the Digital Out of Home (DOOH) market by product, price, financial position, product portfolio, growth strategies, and regional presence.
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Digital Out of Home (DOOH) Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 20.91 Bn.


Forecast Period 2022 to 2029 CAGR:
11.2%
Market Size in 2029:
US $ 48.88 Bn.


 Segments Covered:
by Format Type
• Billboard
• Transit
• Street furniture
• Others


by Application
• Outdoor
• Indoor


by End-User
• Automotive
• Personal care & households,
• Entertainment
• Retail
• Food & beverages
• Telecom
• BFSI
• Others


by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)



Digital Out of Home (DOOH) Market Key Players
• 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)
• oOh!media 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)

Frequently Asked Questions:

1. Which region has the largest share in Global Digital Out of Home (DOOH) Market?
Ans: North America region held the highest share in 2021.

2. What is the growth rate of Global Digital Out of Home (DOOH) Market?
Ans: The Global Digital Out of Home (DOOH) Market is growing at a CAGR of 11.2% during forecasting period 2022-2029.

3. What is scope of the Global Digital Out of Home (DOOH) Market report?
Ans: Global Digital Out of Home (DOOH) Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Digital Out of Home (DOOH) Market?
Ans: The important key players in the Global Digital Out of Home (DOOH) Market are – 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), oOh!media Ltd. (Australia), Mvix, Inc. (US), Christie Digital Systems USA, Inc. (US), Ayuda Media Systems (US), Deepsky Corporation Ltd. (Hong Kong), Aoto Electronics Co., and Ltd (China)

5. What is the study period of this Market?
Ans: The Global Digital Out of Home (DOOH) Market is studied from 2021 to 2029.