Global billboard and outdoor advertising market is expected to register a CAGR of around 8% over the period of 2022-2028. According to the Out-Of-Home Advertising Association of America, on the rail, there are 356,773 billboards, on Buses, there are 1,354,842 billboards placed, and on subways, 16,466 billboards are placed. Americans spend almost 300 hours in their cars each year. Transportation is also an advantageous means of outdoor advertising, as many people use public transportation to go to work. The modernization of public transport will continue to drive the growth of this market. Moreover, the increase in digital out-of-home (DOOH) advertising is expected to contribute to the growth of the billboard and out-of-home advertising markets. Off-house (OOH) advertising refers to advertising outside the home, including billboards, bus shelters, wall hangings, and posters. However, some of the restraints are high volatility in the pricing of OOH advertising and stringent regulations.
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Based on type,
the market is classified into painted billboards, digital billboards,
multipurpose billboards, and others. Amongst types, the painted billboard
category accounted for a significant share of the market. Billboards allow
businesses to reach many customers with just one advertising trick. The growth of the segment can be
attributed to the growing popularity of these billboards as they are more
attractive.
Based on end-users,
the market is categorized into retail, banks and financial institutions, media
entertainment, government, transportation, and others. Among these, retail is
expected to witness the highest CAGR during the forecast period. This is
because of the growing trend for more interactive billboards that will attract
and engage new customers. These new interactive billboards will appeal to a niche
market with a personal and engaging message based on well-researched
information on consumer habits, preferences, and preferences that significantly
contribute to the growth of the market.
North America to
witness extensive growth
For a better understanding of the market
adoption of the billboard and outdoor advertising market, the market is
analyzed based on its worldwide presence in the countries such as North America
(United States, Canada, and Rest of North America), Europe (Germany, France,
Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan,
India, Australia, and Rest of APAC), and Rest of World. APAC constitutes a
major market for the billboard and outdoor advertising industry in 2020 owing
to the presence of the increasing number of commercial spaces in the region.
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According to UnivDatos Market Insights (UMI)’,
the key players with a considerable market share in the global billboard and
outdoor advertising market are BroadSign International
LLC, Daktronics Inc., TOM Group Limited, APG SGA, Mozmene, Talon Outdoor Ltd,
Zo Digital, oOh!media Limited, The Times Group, Eye Media LLC. Several
M&A’s along with partnerships have been undertaken by these players to
boost their presence in different regions.
“Global Billboard
and Outdoor Advertising Market” provides comprehensive qualitative and quantitative insights on
the industry potential, key factors impacting sales and purchase decisions,
hotspots, and opportunities available for the market players. Moreover, the
report also encompasses the key strategic imperatives for success for
competitors along with strategic factorial indexing measuring competitor's
capabilities on different parameters. This will help companies in the
formulation of go-to-market strategies and identifying the blue ocean for its
offerings.
Market Segmentation:
1.
By Type (Painted Billboard, Digital Billboard, Multipurpose Billboard, Others)
2.
By Application (Highways, Buildings, Automobiles, Others)
3.
By End-Users (Retail, Banks and Financial Institutions, Media and Entertainment,
Government, Transformation, and Others)
4.
By Region (North America, Europe, Asia-Pacific, Rest of the World)
5.
By Company (BroadSign
International LLC, Daktronics Inc., TOM Group Limited, APG SGA, Mozmene, Talon Outdoor Ltd, Zo Digital, oOh!media Limited, The Times Group, Eye
Media LLC.)
Key questions answered in the study:
1.
What are
the current and future trends of the global billboard and outdoor advertising industry?
2.
How the
industry has been evolving in terms of type, application, and end-users?
3.
How the
competition has been shaping across the countries followed by their comparative
factorial indexing?
4.
What are
the key growth drivers and challenges for the global billboard and outdoor
advertising industry?
5.
What is the
customer orientation, purchase behavior, and expectations from the global billboard
and outdoor advertising suppliers across various region and countries?
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