According to the new research report published by The Insight Partners, titled “Digital Out of Home Market to 2027 – Global Analysis and Forecasts by Type (Billboards, Transit, Street Furniture, Place-Based); and End User (Automotive, Retail, Consumer Products, BFSI, Telecom, and Others)”, The global Digital Out of Home market is accounted to US$ 6,084.1 Mn in 2018 and is expected to grow at a CAGR of 11.3% during the forecast period 2019 – 2027, to account to US$ 15,905.7 Mn by 2027. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
Under end user segment, retail is the leading industry. The adoption of digital out-of-home (OOH) is high in this industry. Advertisement featured on digital display is mainly comes from retailers. For instance, in April 2019, H&M, a clothing retailer has executed a number of advanced deployments, such as an interactive voice mirror in Times Square, New York City. It is installed through a collaboration with digital signage provider Visual Art, digital experiences provider Ombori and Microsoft Corporation. The retail chains are considered to be the ideal environment for DOOH solutions. Geographically scattered with several departments, the CMOs in the industry greatly benefit from the flexibility and precision offered by DOOH advertisement. The FMCG sector is among the major contributors to the Digital OOH in retail industry, and is also expected to make the most from available information such as sales performance, weather, and time of the day. Furthermore, location based OOH is the widely adopted strategy among the retailers, where dynamic localization is not just used by FMCG and food, but the fashion retailers are also showcasing noteworthy interest in location-based DOOH content. Geographically, the market for digital out-of-home (OOH) is dominated by Asia pacific region.
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There has been constant growth in Digital Out of Home advertising industry. Recently Verve, one of the prominent mobile platform for location-based programmatic display and video marketing partnered with HERE in order to amplify mobile display advertisement performance and pave path for digital OOH opportunities. Besides, a geospatial technology firm Vistar Media, recently launched a solution to facilitate automotive marketers with the ability to precisely measure attribution from OOH advertisement.
The market for digital out of home is concentrated with some very well-established players across the globe. Some of the key players in the digital OOH market include JCDecaux, Clear Channel Holdings, Inc., Outfront Media, Inc., Lamar Advertising Company, Fairway Outdoor Advertising, LLC, Lightbox OOH Video Network, Bell Media, Inc., Ayuda Media Systems, Signagelive, and Real Digital Media.
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