The Business Research Company’s Billboard And Outdoor Advertising Market 2021 – Opportunities And Strategies – Global Forecast To 2030
LONDON, GREATER LONDON, UK, November 19, 2021 /EINPresswire.com/ — Companies in the billboard and outdoor advertising market are focusing on leveraging the growing trend of content sharing. Instagrammable billboards refer to billboards that are engaging, creative, visually pleasing and has the potential of being shared and streamed. Advertisers create an experience or a piece of art and the people do most of the marketing for the advertisers here by sharing on social media. For instance, in 2018, Sweden based audio streaming company, Spotify released its #DavidBowieIsHere campaign to commemorate the late David Bowie. The company put up subway-wall-sized images of Bowie-inspired art, from fan-made submissions in the Broadway-Lafayette New York subway station. Each piece of art had a unique Spotify code that allowed fans to access the music and allowed engagement and sharing via the Spotify app across all devices.
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The global billboard and outdoor advertising market reached a value of nearly $23.36 billion in 2020, having increased at a compound annual growth rate (CAGR) of 4.6% since 2015. The market is expected to grow at a CAGR of 7.5% from 2020 to reach $33.54 billion in 2025. The global billboard and outdoor advertising market is expected to reach $41.59 billion in 2030, at a CAGR of 4.4%.
The rising adoption of programmatic digital display advertisements and OOH will drive the billboard and outdoor advertising market in the forecast period. The programmatic display advertisement helps in automating the decision making-process of media buying with the help of software to target a precise audience or consumer group. The digital OOH is growing rapidly owing to several factors, including cost-effectiveness, and high efficacy. Digital OOH helps in creating interactive and innovative campaigns. Besides, brands are increasingly looking to diversify their advertising expenditure through innovative omnichannel advertising strategies. According to a survey by the Digital Place Based Advertising Association (DPAA), 60% of media planners are including DOOH in their media plans. Moreover, according to PQ Media, digital out-of-home advertising accounted for 28.3% of all OOH ads in 2019 and this is projected to rise to 38.3% by 2023. Therefore, the rising adoption of digital OOH is to act as a major driver for the market, going forward.
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Major players covered in the global billboard and outdoor advertising industry are JCDecaux SA, Clear Channel Outdoor Holdings, Inc., Lamar Advertising Company, Focus Media Information Technology Co., Ltd., OUTFRONT Media Inc.
Asia-Pacific was the largest region in the global billboard and outdoor advertising market, accounting for 46.5% of the total in 2020. Going forward, the fastest-growing regions in the billboard and outdoor advertising market will be Eastern Europe and South America, where growth will be at CAGRs of 13.1% and 11.7% respectively.
TBRC’s global billboard and outdoor advertising market report is segmented by type into painted billboards, digital billboards, multi-purpose billboards, mobile billboards, others, by application into highways, railway stations, buildings, automobiles, others, by end-user into retail, banks & financial institutions, commercial buildings, media & entertainment, government, transportation.
Billboard And Outdoor Advertising Market 2021 – By Type (Billboard, Street Furniture, Transit), By Platform (Static, Digital), By End-User Industry (Vehicle Industry, Food & Beverage Industry, Commercial And Personal Services, Consumer Goods, Health And Medical Industry) And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides billboard and outdoor advertising market overview, forecast billboard and outdoor advertising market size and growth for the whole market, billboard and outdoor advertising market segments, and geographies, billboard and outdoor advertising market trends, billboard and outdoor advertising market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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