Digital Out-of-Home Market is expected to register a CAGR of 11.0% during 2018 – 2028
The global digital-out-of-home market is expected to register a CAGR of 11.0% during 2018 – 2028 with SEA and Others of APAC, Western Europe and North America accounting for significant market value shares by the end of the forecast period.
FMI delivers key insights on the global digital-out-of-home market in its report entitled ‘Digital-Out-of-Home market: Global Industry Analysis 2013 – 2017 and Opportunity Assessment 2018 – 2028’ The market value growth of the global digital-out-of-home market will remain attractive as the market is expected to grow continuously at a CAGR of 11.0% in terms of value during the forecast period 2018–2028. On the basis of the platform, the Digital Billboards & Signages (DBB) segment is expected to register attractive growth over the forecast period. Based on industry, the retail segment in the global digital-out-of-home market is expected to gain market share penetration during the forecast period.
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The global annual revenue from the digital-out-of-home market has been valued at US$ 3,905.3 Mn by the end of 2017, and it is expected to grow at a steady pace over the forecast period. The dominating regions, i.e., North America, SEA & Others of APAC and Western Europe are expected to collectively account for a majority share in the global digital-out-of-home market. These regions are likely to dominate the global digital-out-of-home market over the forecast period.
The digital media landscape is undergoing drastic changes due to the introduction of advanced digital technologies. Over the past few years, various media owners have entered the digital-out-of-home market with an objective to offer cross-network advertisement delivery reports in centralized online dashboards similar to the capabilities of ad servers in the online space. The measurement of digital-out-of-home media is improving due to the adoption of interactive technologies that enable advertisers to gain customer insights using mobile device location data. Mobile location data is utilised to validate the location of a device and brand exposure by analysing whether the consumer was standing closer to the digital screen when the advertisement was displayed. As the digital industry continues to evolve, there has been a rise in the adoption of digital-out-of-home screens across various verticals. Moreover, the emergence of cloud-based digital platforms and the introduction of programmatic digital-out-of-home advertising are among factors expected to contribute to the growth of the digital-out-of-home market.
On the basis of FMI analysis, the Digital Place-Based Networks (DPN) in the platform segment will dominate the digital-out-of-home market due to the introduction of location-based advertising at various venues and increase in smartphone penetration. On the basis of industry, the retail segment will be a dominating segment due to the widespread adoption of digital billboards & digital place-based networks by brand marketers at malls, roadsides, bus shelters, airports and other high dwell-time venues to generate huge customer traffic.
The North America digital-out-of-home market is expected to dominate the global digital-out-of-home market due to the large presence of media owners in the U.S. The digital-out-of-home market has huge potential in China owing to major technological advancements in the retail and entertainment market. The SEA and Others of APAC digital-out-of-home market will be a target market for market participants looking to penetrate the BFSI and corporate & government segment. Latin America is estimated to grow at a moderate CAGR over the forecast period. Brazil is expected to hold a major revenue share in the Latin America digital-out-of-home market over the forecast period.
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According to FMI analysis, long-term contracts with business partners help increase revenue and new innovation strategies enable digital-out-of-home vendors and media owners to reach new growth markets. Some of the market participants in the global digital-out-of-home market report include JCDecaux, Lamar Advertising Company, Clear Channel Outdoor, oOh!Media Ltd., Ströer SE & Co. KGaA, Outfront Media, Inc., APN Outdoor Group Ltd., Focus Media Co. Ltd., Exterion Media Group, BroadSign International LLC and Asiaray Media Group Ltd.