The Global Market for Outdoor Advertising is Projected to Reach US$44.7 Billion by 2024

Inherent Interactive Storytelling and Targetability Capabilities Drive Global Investments in Outdoor Advertising, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market size, share and demand forecasts on the global Outdoor Advertising market. The global market for Outdoor Advertising is projected to reach US$44.7 Billion by 2024, driven by increasing time spent outdoors, growing number of malls, rising number of airports/airport terminals and metro rail networks, and technological advances. 

Advertising is playing a significant role in organizations’ success, and continues to be an essential requisite for survival of businesses in this fiercely competitive world. The advertising industry at present uses a wide variety of media formats ranging from television, radio, print to outdoor, mobile, airport and Internet advertising for delivering the message to the audiences. In a fragmented media market, with each format vying for vying for audience attention, demand is rising for advertising tools that enable effective targeting of mass audiences. Although accounting for a small share in the overall advertising expenditure, outdoor advertising delivers significant reach across a wide base of audiences in terms of ethnicity, income and demographics, and is gaining importance. With people continuing to spend increasing number of hours per day outdoors, either traveling, commuting, shopping, or socializing, out-of-home advertising market is forecast to grow steadily in the upcoming years and expected to continue to increase its share of ad spends, worldwide. Guided by advantages in targetability, and mass cum one-to-one communication, personalization and sensory appeal, easy and effective pitching, it is opportunities galore for outdoor advertising in the world market. Recent issues in competing digital advertising with respect to safety and reliability, and technological advances are other key factors driving market growth.

The outdoor advertising market has been witnessing considerable transformation in recent years, powered by growing investments in new technologies. Developments in billboards, including large-format vertical signs, unique redesigned signs, intricately architectured street furniture for maximum impact and lately digital signage, are helping infuse vigor in the market. Unimaginative, dull and ineffective signs are making way for creative messages in the form of hyper-targeting and interactive storytelling, as advertising service providers innovate to inject an additional dose of confidence in this advertising medium. With advancements in facial/object recognition and Internet-connected screens, outdoor advertising is expected to become more intelligent going forwards, driving their appeal and in turn revenues. A key trend seen in the billboard advertising market is the rising use of digital products and increasing installation of digital panels, which are capable of enabling interaction between advertisers and target customers through the latter’s mobile platforms. Changing regulations and fall in LED prices are also driving the appeal for billboards and other digital outdoor advertising formats.

As stated by the new market research report on Outdoor Advertising, Asia-Pacific represents the largest market worldwide for Outdoor Advertising. Asia-Pacific also represents the fastest growing market worldwide, with a CAGR of 6.4% through the analysis period, driven by increasing urbanization, retail boom in many developing markets driving demand for digital signage systems, and development of transportation networks, public infrastructure, and new construction of commercial buildings which provide opportunities for various formats to target large audience. Billboards represent the largest outdoor advertising mode/format in the global outdoor advertising market, driven by increasing replacement of traditional billboards with digital variants. Transit outdoor advertising is expected to spearhead growth, driven by increasing amount of time spent outdoors, expansion of existing and construction of new airports, and growing number of metro rail networks among others. 

Major players in the market include Adams Outdoor Advertising, Adspace Networks Inc., APG|SGA SA, APN Outdoor Group Ltd., Bell Media, Burkhart Advertising Inc., Captivate Network, Clear Channel Outdoor Inc., Clear Media Limited, Daktronics Inc., EPAMEDIA, Euro Media Group S.A., Fairway Outdoor Advertising, Focus Media Holding Limited, JCDecaux SA, Lamar Advertising Company, Outfront Media Inc., Pattison Outdoor Advertising, Primedia Outdoor, Ströer Media SE, TOM Outdoor Media Group and Zoom Media Inc. among others.

The research report titled “Outdoor Advertising: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for Outdoor Advertising in value terms for all major geographic markets such as United States, Canada, Japan, Europe (Austria, Belgium, France, Germany, Greece, Hungary, Ireland, Italy, The Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden, Switzerland, Turkey, UK and Rest of Europe), Asia-Pacific (Australia, China, Hong Kong, India, Indonesia, Malaysia, New Zealand, The Philippines, Singapore, South Korea and Thailand), Middle East & Africa (Israel, Kuwait, Saudi Arabia, South Africa and the UAE), and Latin America (Argentina, Brazil, Chile, Mexico and Rest of Latin America). Outdoor Advertising Modes/Formats analyzed include Billboards, Transit, Street Furniture and Others.

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