Digital-Out-Of-Home Advertising to hit US$ 12.3 bn by 2028 due to Burgeoning Digital Screens & Audience Analytics Adoption
VALLEY COTTAGE, New York, August 7, 2018 /PRNewswire/ --
In a recently published report, Future Market Insights (FMI), a premier market research company delivering key insights, has studied the 'digital-out-of-home market [https://www.futuremarketinsights.com/reports/digital-out-of-home-market ]' along with an in-depth analysis of the current trends and ongoing developments driving the market. Future Market Insights predicts a substantial revenue growth from 2018 to 2028, standing at a market valuation of US$ 12,365.6 Mn by 2028 end, expanding at a substantial CAGR of 11.0% over the forecast period of 2018-2028.
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Powered with advanced technologies like 3G, 4G, 5G, LPWA (Low Power Wide Area), and cellular technologies such as NB-IoT and LTE-M, digital-out-of-home is reinventing the advertising experience-providing global coverage, reliable connection of IoT devices, along with low-cost deployments. This digital-out-of-home advertising includes a digital display, digital billboard or digital signage that changes the advertising content remotely using LED, and screen technology-mostly, in the form of Digital Billboards & Signage and Digital Place-based Networks. Studies suggest that the advertising through digital billboards & signage (DBB) is likely to dominate the global digital-out-of-home market with more than 50% share in terms of revenue by the end of 2028.
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Deployed across various sectors including infrastructure, energy, agriculture, automotive, healthcare, retail, automotive, and transportation, the digital-out-of-home advertising revenues is projected to overtake traditional media spend in 2020, expanding at an impressive rate in the next few years.
Geographically, North America is expected to dominate the global digital-out-of-home market due to the large presence of media owners in the region including JCDecaux, Outfront Media Inc, Vistar Media, and Clear Channel Outdoor. Moreover, with the introduction of interactive technologies like Augmented Reality (AR) and Virtual Reality (VR) is projected to create investment opportunities in the digital-out-of-home market in MEA.
Key players in the digital-out-of-home market including CDecaux, Lamar Advertising Company, Clear Channel Outdoor, oOh!Media Ltd., Stroer SE & Co. KGaA, Outfront Media, Inc., APN Outdoor Group Ltd, and Focus Media Co. Ltd are focusing on expanding their customer reach through elevated adoption of digital screens coupled with new innovation strategies.
Location-Based Marketing & Proliferation of Digital Screens Driving Digital-Out-Of-Home Adoption
Digital-out-of-home technology has changed the face of outdoor advertising. From digital billboards to interactive screens in elevators and jukeboxes, digital-out-of-home vendors are reaching their target audience in a specific and real-world context. Vendors are enhancing 'on the go' internet user's online experience with digital-out-of-home advertisements-with ad messages delivered at the right time and in a format that is automated, dynamic and interactive. Moreover, accessibility of geolocation data for digital outdoor advertising is assisting media vendors in targeting the specific audiences at various locations-transmitting real-time updates to niche audiences. Location-specific marketing generates impactful, relevant customer insights, and accurately measured audience reach and frequency of campaigns, thereby boosting the global adoption of digital-out-of-home.
Preview Analysis Global Digital Out-of-Home Market Segmentation by Platform (Digital Billboard & Signage (DBB), Digital Place-based Networks (DPN)); By Industry (Retail, Corporate & Government, Healthcare, Hospitality, Transportation, Entertainment, BFSI, Education, Others) : https://www.futuremarketinsights.com/reports/digital-out-of-home-market
Revenue contribution from the transportation industry is expected to grow at an exponential CAGR during the forecast period. Vendors are leveraging digital-out-of-home advertising to reach out to potential customers through a variety of digital screens placed in airports, trams, buses, city locations, subways, and trains. The rapid shift from print billboards to digital screens is relentless and driving high levels of growth to outdoor advertising vendors in the digital-out-of-home market. Since, the cost of installing such screens is relatively low as compared to traditional billboards, digital screens are projected to proliferate rapidly, boosting the digital-out-of-home market.
Lack of Interoperability Could Interrupt Digital-Out-Of-Home Deployments
For accuracy in terms of consumer insights, vendors depend immensely depend on interoperability between digital billboards and attribution tools. Lacking which, could significantly increase the complexity coupled with the cost of digital kiosks, digital displays and digital wall deployments. The growth of global digital-out-of-home is likely to be hampered in the absence of a seamless, fully functional data sharing ecosystem between the digital billboards and signage from different media owners and screen manufactures.
Usage of audience and attention analytics, integration of mobile and digital-out-of-home, and proliferation of digital screens for advertising at airports are some key trends estimated to boost the global digital-out of-home market.
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Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.
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SOURCE Future Market Insights
