Global Digital OOH Market 2018-2022
About Digital OOH
The market is fragmented due to the presence of many vendors. However, it only lists the key vendors in the market and does not present the market share of all vendors in the market. The report discusses the primary market growth drivers and challenges that the vendors and the market as a whole face, and provides an overview of the key trends emerging in the market.
Technavio’s analysts forecast the global digital OOH market to grow at a CAGR of 10.19% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global digital OOH market for 2018-2022. To calculate the market size, the report considers the revenue generated from the type of digital OOH such as in-store advertising and outdoor advertising.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Digital OOH Market 2018-2022
Technavio recognizes the following companies as the key players in the global digital OOH market: Clear Channel Outdoor, JCDecaux, Lamar Advertising, and OUTFRONT Media
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increase in spending from FMCG industry. The FMCG sector accounts for over one-seventh of the global economy. It is one of the major industries that uses outdoor advertising as the major source of advertising. With the growing FMCG market, the advertising budget would also increase. Moreover, with the availability of numerous products and tough competition, FMCG manufacturers opt for innovative advertising platforms that have a wide reach in a region.”
According to the report, one of the major drivers for this market is Reduced cost of digital screens. One of the major factors hindering the growth of the digital OOH market is the disability of vendors to choose a suitable location for digital signage displays. These displays have a high presence in the market, which reduces the scope for new displays. The revenue of digital signage displays grew at a CAGR of 9% between 2010 and 2016, because of which, the average price of a digital screen declined at a CAGR of 6%.
Further, the report states that one of the major factors hindering the growth of this market is Threat from mobile advertising. Although OOH advertising has a larger audience base, it is not customized. Smartphones and other mobile devices track user activities and generate advertisements based on usage and search terms. Hence, they are more personalized and targeted.
Clear Channel Outdoor, JCDecaux, Lamar Advertising, and OUTFRONT Media