Global Digital Out-of-Home (DOOH) Market Projected to Reach USD 54.33 Billion by 2030
Advancements in Digital Advertising and Urbanization Drive Market Growth
The global Digital Out-of-Home (DOOH) market Size is experiencing significant growth, with projections indicating an increase from USD 25.84 billion in 2023 to USD 54.33 billion by 2030, reflecting a compound annual growth rate (CAGR) of 11.2% during the forecast period.
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Market Definition and Overview
Digital Out-of-Home (DOOH) advertising refers to the use of digital media to promote products or services in public spaces. This modern form of advertising encompasses various formats, including digital billboards, transit displays, street furniture, and interactive kiosks. DOOH has largely supplanted traditional advertising methods, allowing advertisers to engage customers in real-time and track the effectiveness of marketing messages. The increasing use of commercial displays in advertising has made DOOH a powerful medium for promotion across all sectors and applications.
Market Growth Drivers and Opportunities
Several factors are contributing to the expansion of the DOOH market:
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Increase in Programmatic Advertising Spending: The rise in programmatic advertising spending is a key driving factor expected to boost global DOOH market growth during the forecast period.
- Advancements in Display Technologies: Continuous technological advancements in display technologies are propelling the global DOOH market growth.
- Urbanization in Emerging Economies: The rise in urbanization across emerging economies globally is expected to provide lucrative opportunities for the growth of the DOOH market.
- Integration of Internet of Things (IoT) and Cloud Platforms: The increase in demand for IoT and the emergence of cloud platforms are anticipated to drive the global DOOH market growth in the near future.
- Cost-Effectiveness of Digital Displays: The cost-effectiveness of digital displays is driving the DOOH market, allowing for more effective marketing with digital billboards, interactive campaigns, and weekly promotions on a larger scale without wasting paper for printed boards.
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Segmentation Analysis
The DOOH market is categorized based on format type, application, and end-user:
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By Format Type:
- Billboard: Dominated the market in 2023 due to their attractiveness and high visibility.
- Transit: Includes displays in transportation hubs and vehicles.
- Street Furniture: Encompasses digital displays on bus shelters, benches, and kiosks.
- Others: Includes digital displays in elevators, airports, and shopping malls.
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By Application:
- Indoor: Includes displays in shopping malls, airports, and retail stores.
- Outdoor: Includes billboards, transit displays, and street furniture. The outdoor segment is expected to have the fastest CAGR of 11.7% during the forecast period.
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By End-User:
- Automotive: Accounted for roughly one-fifth of the global DOOH market in 2023.
- Personal Care & Households: Includes products like cosmetics and household items.
- Entertainment: Expected to grow at the fastest CAGR of 12.5% between 2023 and 2030.
- Retail: Includes fashion, electronics, and other retail sectors.
- Food & Beverages: Includes restaurants, cafes, and packaged goods.
- Telecom: Includes mobile services and internet providers.
- BFSI (Banking, Financial Services, and Insurance): Includes banks, insurance companies, and financial institutions.
- Others: Includes sectors like healthcare, education, and government.
Regional Insights
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North America: Expected to hold the largest share and dominate the DOOH market during the forecast period. 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.
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Asia Pacific: The second-largest market for DOOH, estimated to hold its position and experience fast growth due to the adoption of technology in its untapped markets.
Competitive Landscape
The DOOH market features several prominent players:
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JCDecaux: A global leader in outdoor advertising, specializing in street furniture and digital billboards.
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Clear Channel Outdoor: Offers a wide range of digital and traditional outdoor advertising solutions.
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Lamar Advertising Company: Provides digital billboards and transit advertising services.
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Outfront Media: Specializes in digital and static outdoor advertising across various formats.
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Global Outdoor Media Group: Offers digital out-of-home advertising solutions in multiple countries.
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Conclusion
The Digital Out-of-Home (DOOH) market is poised for substantial growth, driven by advancements in digital advertising technologies, urbanization, and the increasing demand for real-time, interactive advertising solutions. As industries continue to embrace digital transformation, the DOOH market is expected to expand, offering significant opportunities for advertisers and technology providers.
Key questions answered in the Digital Out of Home (DOOH) Market are:
- What is Digital Out of Home (DOOH) ?
- What is the growth rate of the Digital Out of Home (DOOH) Market?
- Who are the key players in the Digital Out of Home (DOOH) market?
- Who are the leading companies and what are their portfolios in Digital Out of Home (DOOH) Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Digital Out of Home (DOOH) Market?
- Which are the factors expected to drive the Digital Out of Home (DOOH) market growth?
- What are the different segments of the Digital Out of Home (DOOH) Market?
- What growth strategies are the players considering to increase their presence in Digital Out of Home (DOOH) ?
- What are the upcoming industry applications and trends for the Digital Out of Home (DOOH) Market?
- What segments are covered in the Digital Out of Home (DOOH) Market?
- What segments are covered in the Digital Out of Home (DOOH) Market?
- What are the key opportunities in the market?
- What factors restrain the market growth?
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Key Offerings:
- Market Size, Share, Size & Forecast by Different Segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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