The global digital out-of-home market is set to grow with a CAGR of 14.0% during the forecast period, starting from US$ 4.15 Bn in 2018.
Market Insights
The global digital out-of-home market is mainly driven by increasing investment for marketing and advertising of products and services. Changing dynamics of consumer behavior, companies these days are seeking new ways to attract customers and enhance their sales. Digital signage has gained pace in the world of marketing, hence there are number of digital billboards set-up across the cities and highways that display product information. Furthermore, with growing digitization, and increasing adoption of advanced devices, digital out-of-home market is expected to witness a significant growth.
Get sample copy with COVID19 impact analysis: https://www.credenceresearch.com/sample-request/59970
Growing market competitiveness has enables various companies to opt for new ways to market their products and increase customer base. Implementation of business intelligence, and investment in advanced technologies contribute to this development. Large number of companies are investing in new infrastructure that provides space for digital out-of-home advertising. Furthermore, increasing investments in IoT, virtual reality, audio-visual advertising are also fuel the growth of this market. However, stringent regulations, and volatility of advertising budget, and lack of actual and thorough consumption data are some factors restraining the market growth during the forecast period.
Based on application, the digital out-of-home market was led by outdoor applications that held a market share of more than 70% in 2018. Increasing implementation of billboards on highways and streets is primarily driving the growth of this market segment. However, indoor applications are also growing at a significant pace as many retail outlets, hotels and hospitals are using this medium to display significant content for the people visiting. Furthermore, increased installation of LED and LCD in these centers is also with an aim of providing information to the people.
Based on geography, North America held a largest market share of more than 35% in 2018. US being technologically advanced held the largest market share in the North American region, and is also projected to witness a fastest growth. However, Asia-Pacific is projected to be the fastest growing region in the global market based on increasing penetration of digitization, and growing awareness of advanced advertising techniques. As emerging nations have a huge customer base and new technologies can help companies attract a wide amount of sales revenue, this regional segment showcases a great potential in coming few years.
Browse the full report at https://www.credenceresearch.com/report/digital-out-of-home-market
Outdoor Application Segment Dominated the Global Market
In 2018, the digital out-of-home market was led by outdoor applications that held a market share of more than 70% of the total revenue generated. The adoption of outdoor displays is high across the globe as it is easy to display large advertisements in busy areas to attract attention of the people. Mainly in transportation sector, the outdoor digital displays have a prominent role to play. Furthermore, outdoor displays or billboards can help reach a large customer base, which as a result can enhance the existing market size of the digital out-of-home market.
North America to Dominate the Market by Region
In the global digital out-of-home market, North America held a largest market share of more than 35% in 2018. Countries such as US and Canada are technologically sound, large number of companies are opting advanced marketing techniques that will enable them enhance their customer base and ultimately increase the sales revenue. However, increasing penetration of digitization, and growing awareness of advanced advertising techniques in Asia-Pacific and Middle East and Africa are driving the growth of digital out-of-home market in these regions.
Some of the prominent players operating in the digital out-of-home market include JCDecaux, Lama Advertising Company, Daktronics, OUTFRONT Media, Prismview LLC NEC Display Solutions Ltd., Broadsign International LLC, Oohmedia! Ltd., Ayuda Media System, Mvix, Inc., and Deepsky Corporation Ltd.
Get sample copy with COVID19 impact analysis: https://www.credenceresearch.com/sample-request/59970