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EFFECT OF COVID-19 ON GLOBAL OUTDOOR ADVERTISING MARKET: INSIGHTS, TRENDS AND FORECAST (2020-2024)

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The global outdoor advertising market value is forecasted to reach US$54.13 billion in 2024, growing at a CAGR of 5.1%, for the period spanning from 2020 to 2024. The factors such as booming tourism industry, growing programmatic digital display Ad spending, increasing urban populace, accelerating economic growth and improving consumer confidence are expected to drive the market. However, growth of the industry would be challenged by outbound telemarketing market growth in developing economies, intensive competition and stringent regulations. A few notable trends include intensifying DOOH advertising market, rising street furniture outdoor advertising market, market consolidation, launch of innovative out-of-home advertisement tools and developing beacon technology fondness.

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Outdoor advertising helps the advertiser to reach that audience who do not have access to traditional advertisements such as young generation, corporate guys and middle-class population thus allowing the advertiser to target particular demographics, ages, income, and ethnic groups. The popular outdoor advertising categories are billboards, street furniture, transit and alternative advertising. Presently, billboards are the most demand medium owing to high demand for digital billboards in malls and other tourist infrastructures in various countries.

The fastest growing regional market is the U.S. due to rising digital OOH promotion tools such as a jukebox, spectacular and signage adoption by the corporates, restaurant owners and telecom sector to endorse their products and target the moving populous in different areas.

Scope of the report:

  • The report provides a comprehensive analysis of the global outdoor advertisement market, segmented on the basis of types i.e. billboards, street furniture and transit.
  • The major regional markets (US, UK, Australia and Canada) have been analysed.
  • The market dynamics such as growth drivers, market trends and challenges are analysed in-depth.
  • The competitive landscape of the market, along with the company profiles of leading players i.e. JCDecaux SA, Clear Channel Outdoor Holdings, Inc., Lamar Advertising Company, Outfront Media Inc., APG|SGA Group and Ströer SE & Co. KGaA. are also presented in detail.

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Key Target Audience:

  • Outdoor Advertisement Medium Manufacturers
  • Raw Material Suppliers
  • End Users (Hospitality, E-Commerce, Real Estate, Retail)
  • Consulting Firms
  • Investment Banks
  • Government Bodies & Regulating Authorities

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