Reduced cost of digital screens across the world, rapid digitization & decline in demand for traditional billboards, and ease in data integration drive the growth of the global digital out of home market.
PORTLAND, Ore. , Aug. 4, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Digital Out of Home Market By End-User (Automotive, Personal Care and Households, Entertainment, Retail, Food and Beverages, Telecom, BFSI, Others), By Format Type (Billboard, Transit, Street Furniture, Others), By Application (Indoor, Outdoor): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global digital out of home industry was estimated at $18.80 billion in 2020, and is anticipated to hit $58.67 billion by 2031, registering a CAGR of 11.6% from 2022 to 2031. The report offers an explicit analysis of the changing market trends, top segments, key investment pockets, value chain, competitive scenario, and regional landscape. The market study is exclusively meant to help the readers with a complete valuation of industry analysis and trends.
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Reduced cost of digital screens across the world, rapid digitization & decline in demand for traditional billboards, and ease in data integration drive the growth of the global digital out of home market. On the other hand, surge in the trend of online/broadcast advertisement impedes the market growth. However, rise in demand for digital signage solutions in the automotive, retail, telecom, and healthcare industries and rapid urbanization across the world are projected to create lucrative opportunities in the industry.
Increase in demand for digital signage solutions had a positive impact on the global digital out of home market. Simultaneously, surge in adoption of smart infrastructure solutions across automotive, retail, and healthcare sectors boosted the market growth.
Nevertheless, on the other hand, the market was significantly hit by a lot of obstacles created amidst the pandemic such as dearth of skilled workforce, delay or cancelation of projects owing to partial or complete lockdown globally, and many more.
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
North America, Europe, Asia Pacific, Latin America, MEA
U.S., Canada, Germany, U.K., France, Italy, Spain, Japan, China, India, South Korea, Australia, Brazil, Mexico, South Africa, Saudi Arabia
Broadsign International, Inc., Clear Channel Outdoor Holdings, Inc., Daktronics, Inc., JCDecaux SA, Lamar Advertising Company, NEC Corporation, Ooh!mediaLtd, Outfront Media Inc., Samsung Electronics Co. Ltd., and MvixInc Access Table PDF
The Entertainment Segment to cite the fastest CAGR
By end-user, the entertainment segment would manifest the fastest CAGR of 14.9% from 2022 to 2031. Rise in demand for digital advertisement solution across the sports & entertainment industry is driving the market growth. The others segment, on the other hand, garnered the major share in 2020, holding more than one-fifth of the global digital out of home market, due to surge in the utilization of digital signage solutions across other sectors.
The Billboard Segment to rule the Roost
Based on format type, the billboard segment generated the major share in 2020, holding more than two-fifths of the global digital out of home market. Digital billboards are primarily used for advertisement purposes, thus offering significant growth opportunities for the market. The others segment, however, would cite the fastest CAGR of 13.5% by 2031. This is because digital out-of-home advertisement is considered to be a significant backhaul solution in the digital advertisement infrastructure, majorly used in the automotive, retail, and healthcare sectors.
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The Outdoor Segment to maintain the Lion's Share
By application, the outdoor segment contributed to nearly three-fourths of the global digital out of home market share in 2020, and is expected to retain its dominance by 2031. Rise in demand for smart infrastructure solutions across emerging economies drives the segment growth. The indoor segment, however, is expected to exhibit the fastest CAGR of 14.3% from 2022 to 2031, due to rise in demand for enhanced interaction solutions across indoor facilities.
North America Garnered The Major Share in 2021
Based on region, North America held the major share in 2020, generating around two-fifths of the global digital out of home market. Asia-Pacific , simultaneously, would garner the fastest CAGR of 13.0% by 2031. This is attributed to rising awareness of artificial intelligence and IoT technology across the province.
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Key players in the industry
Clear Channel Outdoor Holdings, Inc.
The report analyzes these key players in the global digital out of home market. These players have incorporated various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in assessing the operating segments, their business performance & product portfolio, and so on.
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the Digital out of home market analysis from 2022 to 2031 to identify the prevailing Digital out of home market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the Digital out of home market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global Digital out of home market trends, key players, market segments, application areas, and market growth strategies.
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