According to the latest report by IMARC Group, titled "Outdoor Advertising Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," offers a comprehensive analysis of the industry, which comprises insights on outdoor advertising industry report. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The outdoor advertising market reached a value of US$ 33.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 52.3 Billion by 2027, exhibiting a CAGR of 7.5% during 2022-2027.
Outdoor advertising, or out-of-home advertising (OOH), is a method of promoting products and spreading business-related information in targeted outdoor spaces that reach a large audience. Compared to traditional media, outdoor advertising offers a cost-effective and long-term solution. The most common form of outdoor advertisement includes billboards along roads that have high traffic engagement. In addition to billboards and posters, outdoor advertising can be found in shopping centers, kiosks, sports stadiums, public transportation vehicles, railway stations, bus stops, and airports.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Outdoor Advertising Market Trends:
The market is primarily driven by the rising digitization with an enhanced focus on targeted marketing campaigns among the key players. In addition to this, the growing adoption of programmatic digital display billboards is creating a positive outlook for the market. Also, the continual technological advancements in advertising infrastructure are further providing an impetus to the market growth. Some of the other factors contributing to the market include the rising internet penetration, rapid urbanization and extensive research and development (R&D) conducted by key players.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Storer Media
- Clear Channel Outdoor
- Lamar Advertising
- JCDecaux
Outdoor Advertising Market Segmentation:
Our report has categorized the market based on region, type and segments.
Breakup by Type:
- Traditional
- Digital outdoor advertising
Breakup by Segments:
- Billboard
- Transport
- Street furniture
- Other
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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