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Digital Out of Home Market Overview
Digital out of home or DOOH refers to digital media displayed in outdoors that is accessible to the public and used for advertising and marketing purposes. It is displayed via electronic displays in a variety of formats, excluding radio and TV advertising. It consists of digital billboards, out of home (OOH) displays, digital signages, LEDs, and screen technologies. It allows the change in content remotely and even interaction via near field communication (NFC), touchscreen, mobile phone, or other digital channels. Since it is cost effective, offers accurate metrics for ad performance, and leads to better return on investment (ROI), the digital out of home advertising provides immense opportunities to create interactive marketing and advertising campaigns.
The digital out of home market is classified into retail; healthcare; hospitality; entertainment; banking, financial services, and insurance (BFSI); education; transportation; and others, on the basis of end user. The healthcare category is expected to hold the largest share in the market during the forecast period. This can be attributed to the fact that digital out of home advertising is being extensively used in healthcare applications in the form of digital signs for promoting individual physicians or medical group practices, visitor and patient way finding, and spotlighting hospital specialties.
On the contrary, the transportation category is projected to grow at the highest rate during the forecast period, in the digital out of home market. This can be ascribed to the rapid pace in urbanization and globalization, and declining travel prices, which have led to frequent domestic and international travels. It has led to massive investment in infrastructure development, such as airports, subways, railway stations, metro rail, and bus stands. In the transportation industry, displays, interactive screens, and public information displays are widely used to provide timely data of schedules and timings of flights, trains, metros, and buses, which will boost the demand for DOOH advertising.
Among all regions, North America led the digital out of home market in 2019 and is expected to maintain its dominance during the forecast period as well. This is mainly due to the growing awareness regarding the benefits of commercial displays and technological advancements in the regional market. On the other hand, the APAC market is expected to grow at the highest growth rate during the forecast period, owing to the rapid developments in industries, such as construction, infrastructure, communication, and transportation, which have boosted the demand for DOOH advertising in the region. Also, the growing population in countries, such as China and India, provides an opportunity for companies operating in the market to expand their foothold.
The MEA digital out of home market is also expected to witness significant growth during the forecast period, attributing to the increasing adoption and usage of advanced interactive technologies, such as virtual reality (VR) and augmented reality (AR), for DOOH advertising in the region.
Digital Out of Home Market Dynamics
The advertising industry has shifted its focus from traditional media platforms to online and digital advertising, considering its potential and advantages it could offer. Marketing and advertising have become key factors for the survival of a company. In terms of revenue in the global advertising industry, the digital advertising segment holds the largest share and is expected to grow rapidly over the forecast period. Steady growth in spending on advertising across the globe, and growing economy and rising disposable incomes of the population in the APAC region are some of the reasons for this dramatic growth. Consumers now are more attracted toward digital channels, as these are more engaging, highly accessible, and capable of providing information on a real time basis. Digital billboards are being widely used for advertisement, due to their high reachability. Several government agencies are also shifting from traditional billboards to digital billboards to deliver emergency messages and thereby making information more accessible to the public for safety. This helps law enforcement authorities to deliver messages more effectively and quickly to people. Hence, these factors are boosting the growth of the digital out of home market.
Digital Out of Home Market Competitive Landscape
Due to the presence of various players, the digital out of home market is highly competitive, with the players rapidly launching new products to increase their presence. For instance, in 2020, Absen launched its new AW series for the DIGITAL OUT OF HOME advertising market at Integrated Systems Europe (ISE) 2020 to cater to the growing trend of 5G technology integration and LED display.
Some of the key players operating in the global digital out of home market are Prismview LLC, JCDecaux Group, Lamar Advertising Company, Outfront Media Inc., Clear Channel Outdoor Holdings Inc., NEC Display Solutions Ltd., Daktronics Dr., oOh!Media Ltd., BroadSign International LLC, and Mvix Inc. Some of the key innovators in terms of advanced product development include Christie Digital Systems USA Inc., Ocean Outdoor UK Ltd., Ayuda Media Systems, Aoto Electronics Co. Ltd., and Deepsky Corporation Ltd.
The report will also provide a country wise analysis. Some of the major countries that are covered in the report are the U.S., Canada, the U.K., Germany, France, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Thailand, Indonesia, Malaysia, Singapore, Mexico, Brazil, Argentina, Colombia, South Africa, Turkey, the U.A.E., Saudi Arabia, and Qatar.
Market Size Breakdown by Segment
Based on Product
Based on Application
Based on End User