Global Out-of-Home Advertising Market Trends And Strategies Of Major Players In The Out-of-Home Advertising Market 2020
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The global OOH (Out-of-home) advertising market is expected to grow from $25.29 billion in 2019 to $25.49 billion in 2020 at a compound annual growth rate (CAGR) of 0.8%. 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 $31.05 billion in 2023 at a CAGR of 6.8%. The rising urban population contributed to the growth of the out of home (OOH) advertising market.
The OOH (Out-of-home) advertising market consists of the sales of advertising services and related goods by entities (organizations, sole traders and partnerships) that plan, develop, create and manage advertisement and promotional activities at out-of-home advertisement facilities. Only goods and services traded between entities or sold to end consumers are included.
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The Global Out-of-Home Advertising Market is further segmented based on type, platform, application and geography.
By Type: Billboard, Transport, Street Furniture, Transit Displays, Others.
By Platform: Static, Digital.
By Application: Food and Beverage Industry, Vehicle Industry, Health and Medical Industry, Commercial and Personal Services, Consumer Goods, Others.
By Geography: The global out-of-home 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 out-of-home advertising market was for the largest region in the global out-of-home advertising market in 2019.
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Trends In The Out-of-Home Advertising Market
Companies are increasingly using artificial intelligence to advertise their product. The major applications and benefits of artificial intelligence for digital out-of-home advertisement are agile and trigger data-driven campaigns.
Out-of-Home Advertising Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides out-of-home advertising market overviews, analyzes and forecasts market size and growth for the global out-of-home advertising market, out-of-home advertising market share, out-of-home advertising market players, out-of-home advertising market segments and geographies, out-of-home advertising market’s leading competitors’ revenues, profiles and market shares. The out-of-home advertising market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.