Global Billboard And Outdoor Advertising Market Report 2020 - Opportunities And Strategies, Market Forecast And Trends
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The global billboard and outdoor advertising market is expected to grow from $65.24 billion in 2019 to $65.71 billion in 2020 at a compound annual growth rate (CAGR) of 0.72%. The slowed growth is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $81.35 billion in 2023 at a CAGR of 7.37%. The increase in digital out of home (DOOH) advertising is expected to contribute to the growth of the billboard and outdoor advertising market.
The billboard and outdoor advertising market consists of the sales of billboard and outdoor advertising services and related goods by entities (organizations, sole traders and partnerships) that create and design public display advertising campaign materials, such as printed, painted, or electronic displays and/or place such displays on indoor or outdoor billboards and panels, or on or within transit vehicles or facilities, shopping malls, retail (in-store) displays, and other display structures or sites. Only goods and services traded between entities or sold to end consumers are included.
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The Global Billboard And Outdoor Advertising Market is further segmented based on type, application and geography.
By Type: Painted Billboards, Digital Billboards, Multi-purpose Billboards, Mobile Billboards, Others.
By Application: Highways, Railway Stations, Buildings, Automobiles, Others.
By Geography: The global billboard and outdoor advertising market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American billboard and outdoor advertising market was the largest region in the global billboard and outdoor advertising market in 2019.
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Trends In The Billboard And Outdoor Advertising Market
The expansion of programmatic media buying is a growing trend in the field of digital out of home (DOOH) advertising. Programmatic advertising refers to the use of automated technology for buying advertising space in contrast to traditional methods of digital advertising. This approach uses data insights and algorithms to display the right advertisements to the right person at the right place and price. About 82% of viewers were able to recall a DOOH advertisement that they saw over a month ago.
Billboard And Outdoor Advertising Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides billboard and outdoor advertising market overviews, analyzes and forecasts market size and growth for the global billboard and outdoor advertising market, billboard and outdoor advertising market share, billboard and outdoor advertising market players, billboard and outdoor advertising market segments and geographies, billboard and outdoor advertising market’s leading competitors’ revenues, profiles and market shares. The billboard and outdoor advertising market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.