The Business Research Company Billboard and Outdoor Advertising Market 2021 – Opportunities and Strategies – Global Forecast to 2030
LONDON, GREATER LONDON, United Kingdom, November 19, 2021 /EINPresswire.com/ – Companies in the billboard and outdoor advertising market are focusing on the growing trend of content sharing. Instagrammable billboards refer to billboards that are attractive, creative, visually pleasing, and capable of being shared and streamed. Advertisers create an experience or a work of art and people do most of the marketing for the advertisers here by sharing on social media. For example, in 2018, Spotify, a Swedish-based audio streaming company, launched its #DavidBowieIsHere campaign to commemorate the late David Bowie. The company put together subway wall-sized images of Bowie-inspired art, from fan-made submissions at the Broadway-Lafayette subway station in New York City. Each piece of art had a unique Spotify code that allowed fans to access the music and enabled engagement and sharing through the Spotify app on all devices.
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The global billboard and outdoor advertising market reached a value of nearly $ 23.36 billion in 2020, after increasing at a compound annual growth rate (CAGR) of 4.6% since 2015. The market is expected to grow at a CAGR of 7.5% from 2020 to reach $ 33.54 billion by 2025. The global billboard and outdoor advertising market is expected to reach $ 41.59 billion by 2030 , with a CAGR of 4.4%.
The increasing adoption of programmatic digital signage advertising and OHP will drive the billboard and outdoor advertising market during the forecast period. Programmatic display advertising helps automate the media buying decision-making process using software to target a specific audience or group of consumers. Digital OHO is growing rapidly due to several factors, including cost efficiency and high efficiency. Digital OOH helps create interactive and innovative campaigns. In addition, brands are increasingly looking to diversify their advertising spending through innovative omnichannel advertising strategies. According to a Digital Place Based Advertising Association (DPAA) survey, 60% of media planners include DOOH in their media plans. Additionally, according to PQ Media, digital outdoor advertising accounted for 28.3% of all OOH ads in 2019 and this figure is expected to reach 38.3% by 2023. Therefore, the growing adoption of digital OOH must act as a driving force for the market in the future.
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The main players covered in the global billboard and outdoor advertising industry are JCDecaux SA, Clear Channel Outdoor Holdings, Inc., Lamar Advertising Company, Focus Media Information Technology Co., Ltd., OUTFRONT Media Inc.
Asia-Pacific was the largest region in the global billboard and outdoor advertising market, accounting for 46.5% of the total in 2020. Looking to the future, the fastest growing regions in the market Billboards and outdoor advertising will be Eastern Europe and South America, where growth will be at CAGRs of 13.1% and 11.7% respectively.
TBRC Global Billboard and Outdoor Advertising Market report is segmented by Type into Painted Billboards, Digital Billboards, Multipurpose Billboards, Mobile Billboards, Others, by application in highways, stations, buildings, automobiles, other, by end user in retail, banking and financial institutions, commercial buildings, media and entertainment, government, transportation.
Billboard and Outdoor Advertising Market 2021 – By type (billboard, street furniture, transit), by platform (static, digital), by end-user industry (automotive industry, food and beverage industry, commercial and personal services, consumer goods, healthcare and medicine industry) and by region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides insight into the Billboard and Advertising market Outdoor, Billboards and Outdoor Advertising market size and growth forecast for the overall market, Billboards and Outdoor Advertising market segments and geographies, market trends billboards and outdoor advertising, billboard and outdoor advertising market drivers, restraints, revenue, profiles and market share of major competitors.
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