Outdoor Advertising Market Scope
Outdoor advertising is a service for promoting the product in specific geographic areas. It is one of the fastest-growing media segments. This service helps to be aware of the products and services of companies for those consumers who are outside of home most of the time. It includes billboards, bus benches, and transit advertising which helps the business owner to promote the product, service, and sometimes special offers. Billboard is the most aware outdoor advertisement service. With the adoption of technology, digital outdoor advertisement is playing a vital role. Small and medium business is using this advertisement service to show their presence in local markets.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | JCDecaux (France), Clear Channel Outdoor Holdings (United States), Lamar Advertising Company (United States), OUTFRONT Media Inc. (United States), Ströer (Germany), Primedia Group (South Africa), ExterionMedia (United Kingdom), AllOver Media, LLC (United States), Val Morgan Outdoor. (Australia) and Intersection Media Holdings (United States) |
CAGR | % |
Outdoor Advertising market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA estimates that United States, United Kingdom Vendors will contribute to the maximum growth of Global Outdoor Advertising market throughout the predicted period.
JCDecaux (France), Clear Channel Outdoor Holdings (United States), Lamar Advertising Company (United States), OUTFRONT Media Inc. (United States), Ströer (Germany), Primedia Group (South Africa), ExterionMedia (United Kingdom), AllOver Media, LLC (United States), Val Morgan Outdoor. (Australia) and Intersection Media Holdings (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Hurricane Media UK Ltd (United Kingdom), Fairway Outdoor Advertising (United States) and Ocean Outdoor UK Limited (United Kingdom).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Outdoor Advertising market by Type , by Application (Food & Beverage Industry {Milk and Milk Product, Bakery Product, Energy Drinks, Soft Drink}, Mobile & Telecommunication Industry {Mobile Manufacturers & Dealers, Telecom Service Provider, Vehicles Industry, Heavy Vehicle, Small and Medium Vehicle}, Finance Industry {Banking & IT, Insurance, Mutual Fund) and Other) and Region with country level break-up.
On the basis of geography, the market of Outdoor Advertising has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
February 13, APN Outdoor one of the leading outdoor companies in Australia was acquired by JC Decaux’s. JCDecaux, launching Perth’s newest digital supersite on the Mitchell Freeway. Mitchell Freeway is the main route between Perth City and the satellite city of Joondalup.
Influencing Trend:
Adoption of digital outdoor advertisements and New technologies, such as augmented reality (AR) and virtual reality (VR), are being used to create more immersive and engaging outdoor advertising experiences
Market Growth Drivers:
Outdoor advertising offers wide exposure, making it a preferred choice for brand promotion and Growing demand for out-of-home (OOH) advertising Drive the Market
Challenges:
Outdoor advertisements can create only visual effects and It conveys limited information
Restraints:
High-Cost Investment in Outdoor Digital Advertisements
Opportunities:
Growing Digital Outdoor Advertising, Including Digital Billboards, LED Screens, and Projection Mapping Provides an Opportunity Market
Key Target Audience
Food & Beverages Industry, Retail Industry and Small and Medium Enterprises