According to the latest report by IMARC Group, titled “Outdoor Advertising Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on outdoor advertising market research report. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The outdoor advertising market reached a value of US$ 33.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 52.3 Billion by 2027, exhibiting a CAGR of 7.5% during 2022-2027.
Outdoor advertising alternatively refers to out-of-home (OOH) advertising solutions that are utilized by enterprises to spread business-related information and promote products or services among the masses. They can be broadly categorized into traditional and digital types. Outdoor advertising materials can be placed inside and outside taxis and trains, on posters and billboards, and at bus stops, shopping centers, kiosks, airports, and sports stadiums. They provide a wide coverage as compared to other forms of advertising and prove to be highly cost-effective and long-lasting. Outdoor advertising methods allow organizations to expand their audience reach and enhance brand value and recall rate. Consequently, they are extensively employed by business enterprises across the globe.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Outdoor Advertising Market Trends:
The growing internet penetration and digitization and the elevating focus on targeted marketing are among the key factors driving the outdoor advertising market. Besides this, the expanding retail facilities and the emerging trend of point of sale (POS) campaigns by brands or marketers to publicize special or limited edition and discounted products and encourage impulse purchases are also positively influencing the global market. Apart from this, the shifting preferences toward vehicle or transit and on-the-go advertisement with printed graphics to capitalize on an area with high traffic and create brand awareness is further catalyzing the market growth. Moreover, the increasing integration of advanced technologies, which include artificial intelligence (AI) and near-field communication (NFC) to generate real-time viewership analytics, and the escalating inclination for billboard advertising that requires minimal effort and ensures a higher return of investments (ROI) are expected to propel the outdoor advertising market in the coming years.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Storer Media
- Clear Channel Outdoor
- Lamar Advertising
- JCDecaux
Outdoor Advertising Market Segmentation:
Our report has categorized the market based on region, type and segments.
Breakup by Type:
- Traditional
- Digital outdoor advertising
Breakup by Segments:
- Billboard
- Transport
- Street furniture
- Other
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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