Digital OOH Advertising Market Report by Format Type (Digital Billboards, Video Advertising, Ambient Advertising, and Others), Application (Outdoor, Indoor), End-User (Retail, Recreation, Banking, Transportation, Education, and Others), and Region 2024-2032

The global digital OOH advertising market size reached US$ 19.4 billion in 2023. The market is projected to reach US$ 49.8 billion by 2032, exhibiting a growth rate (CAGR) of 11% during 2023-2032. Significant technological advancements, data-driven targeting and personalization, expanded reach, contextual content delivery, eco-friendliness, and cost-effectiveness are some of the major factors propelling the industry.

Digital out-of-home (DOOH) advertising is a contemporary marketing strategy that utilizes digital displays, such as LED billboards and screens, to deliver dynamic and location-based advertising content. These displays are situated in high-traffic public areas, transportation hubs, shopping malls, and other prime locations. Compared to traditional static billboards, DOOH advertising can showcase multiple advertisements in rotation, often in real time. This form of advertising is gaining popularity due to its ability to engage audiences with visually compelling and contextually relevant content. DOOH campaigns can be remotely managed and updated, allowing advertisers to adapt their messaging swiftly to suit changing demographics or marketing objectives.

The global digital OOH advertising industry is experiencing robust growth driven by the increasing adoption of digital technology in advertising. Besides this, the widespread product adoption as it offers dynamic and engaging content delivery is creating a positive outlook for industry expansion. Moreover, the shift from traditional print to digital formats, allowing advertisers to target specific demographics and geographies with precision, leading to higher return on investment (ROI) and more efficient ad spend is contributing to the market’s growth. In addition to this, the ability of DOOH to provide real-time content updates and interactive experiences enhances audience engagement and brand visibility, aiding in market expansion. Furthermore, the proliferation of high-speed internet connectivity and advancements in display technology are catalyzing market expansion, enabling more vibrant and impactful advertising campaigns. Apart from this, the integration of data analytics and programmatic advertising in DOOH allows for better measurement of ad performance and the personalization of content, which is increasingly appealing to advertisers seeking data-driven insights for campaign optimization, thereby propelling the market forward.

Digital OOH Advertising Market Trends/Drivers

Advancements in digital technology

The rapid evolution of digital technology is a primary driver behind the growth of the DOOH advertising industry. Traditional static billboards are being replaced by dynamic digital displays, including LED screens, interactive kiosks, and digital signage. These digital formats offer advertisers the ability to deliver visually compelling and engaging content that captures the attention of passersby. Additionally, the flexibility of digital displays enables real-time content updates and remote management, allowing advertisers to adapt their messaging quickly in response to changing market conditions, events, or demographics. As technology continues to improve, DOOH becomes an even more attractive option for advertisers seeking innovative ways to connect with their target audience.

Data-driven targeting and personalization

The ability of DOOH advertising to leverage data-driven targeting and personalization is acting as another significant growth-inducing factor. Through the integration of data analytics and programmatic advertising, advertisers can gather insights into audience behavior, preferences, and demographics. This data can be used to create highly targeted and relevant advertising campaigns. Concurrent with this, DOOH can display different content based on the time of day, weather conditions, or proximity to specific locations. This level of personalization increases the effectiveness of advertising and enhances the overall viewer experience, strengthening the industry growth. Moreover, advertisers can optimize their campaigns for better ROI, making DOOH an attractive choice for those seeking measurable and efficient advertising solutions.

Expanded reach and enhanced engagement

The global reach and enhanced engagement capabilities of DOOH advertising contribute significantly to its growth. DOOH displays are strategically placed in high-traffic public areas, transportation hubs, shopping malls, and other prominent locations. This ensures that advertisers can reach a vast and diverse audience, including both local and international consumers. Furthermore, the dynamic nature of DOOH content, which includes motion graphics, video, and interactivity, captivates viewers and encourages them to interact with the advertising message. In line with this, interactive touchscreens, QR codes, and mobile integrations enable viewers to take immediate actions, such as making purchases or accessing additional information. This level of engagement drives brand awareness and fosters direct connections between advertisers and their target audience, making DOOH an appealing option for brands looking to make a lasting impression.

Digital OOH Advertising Industry Segmentation:

The report provides an analysis of the key trends in each segment of the global digital OOH advertising market report, along with forecasts at the global and regional levels for 2023-2032. The report has categorized the market based on the format type, application, and end-user.

Breakup by Format Type:

• Digital Billboards
• Video Advertising
• Ambient Advertising
• Others

Digital billboards dominate the market

The report has provided a detailed breakup and analysis of the market based on the format type. This includes digital billboards, video advertising, ambient advertising, and others. According to the report, digital billboards represented the largest segment.

The surging demand for digital OOH billboard advertising is primarily fueled by its ability to deliver contextual and hyper-localized content. In comparison to traditional billboards, DOOH billboards can adapt their messaging based on real-time data, such as traffic conditions, audience demographics, and nearby events, thereby creating a positive outlook for industry expansion. Moreover, this dynamic content delivery enhances the relevance of advertisements and allows advertisers to align their messages with the situation, increasing the likelihood of capturing viewers' attention and driving engagement. As a result, brands are increasingly drawn to DOOH billboard advertising as an effective means to connect with their target audience in a highly contextual and impactful manner, ultimately yielding higher returns on their advertising investments.

Breakup by Application:

• Outdoor
• Indoor

Outdoor holds the largest share of the market

A detailed breakup and analysis of the market based on the application has also been provided in the report. This includes indoor and outdoor. According to the report, outdoor accounted for the largest market share.

The eco-friendly and cost-effective attributes of DOOH advertising in outdoor applications represent one of the key factors influencing the market growth. DOOH signage typically employs energy-efficient LED displays that consume less power compared to traditional lighting systems, contributing to a reduced carbon footprint. Moreover, the durability of these displays ensures a longer lifespan, reducing maintenance and replacement costs for advertisers. This eco-conscious approach aligns with the growing emphasis on sustainability and corporate responsibility, making DOOH an attractive choice for brands looking to convey an environmentally friendly image. In confluence with this, the cost efficiencies and longer-term benefits associated with DOOH outdoor applications further incentivize advertisers to invest in this medium as a sustainable and cost-effective advertising solution, presenting lucrative opportunities for industry expansion.

Breakup by End-User:

• Retail
• Recreation
• Banking
• Transportation
• Education
• Others

Retail dominates the market

The report has provided a detailed breakup and analysis of the market based on the end-user. This includes retail, recreation, banking, transportation, education, and others. According to the report, retail represented the largest segment.

The burgeoning demand for DOOH advertising in the retail sector is primarily driven by its capacity to enhance in-store customer experiences. DOOH displays deployed in retail environments allow for dynamic, eye-catching content that can be tailored to promote specific products, offers, or seasonal campaigns. Furthermore, DOOH's interactivity can engage shoppers through touchscreens, QR codes, and mobile integrations, enabling instant access to additional product information or make purchases directly, thereby strengthening the market growth. Additionally, the real-time adaptability of DOOH content also facilitates the promotion of last-minute deals or inventory updates, ensuring that retailers can swiftly respond to market dynamics and customer preferences, ultimately fostering brand engagement and bolstering sales. This capability to transform brick-and-mortar spaces into immersive, information-rich shopping environments is a compelling driver for DOOH adoption in the retail sector.

Breakup by Region:

• North America
• Europe
• Asia-Pacific
• Middle East and Africa
• Latin America

Asia-Pacific exhibits a clear dominance, accounting for the largest digital OOH advertising market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America. According to the report, Asia-Pacific accounted for the largest market share.

The increasing urbanization and development of modern infrastructure in many Asia-Pacific countries have led to a surge in foot traffic in major metropolitan areas. This rise in urbanization makes DOOH advertising an attractive medium for reaching a vast and diverse audience, providing impetus to the market’s growth. Concurrent with this, the high penetration of smartphones in the region has created opportunities for synergy between DOOH and mobile advertising, allowing for interactive campaigns and real-time engagement with tech-savvy consumers, thus aiding in industry expansion. Moreover, the cultural diversity and varied consumer preferences across Asia-Pacific nations make DOOH's ability to deliver localized and culturally relevant content, especially appealing to advertisers seeking to connect with consumers in this dynamic and burgeoning market. In addition to this, the region's growing middle class and rising consumer spending power further drive the demand for DOOH advertising as brands seek to tap into this expanding consumer base with impactful and contextually relevant campaigns.

Competitive Landscape

The competitive landscape of the global digital OOH advertising market is characterized by a mix of established players and innovative startups, reflecting the industry's dynamic nature. Key players in this market include leading advertising agencies, digital signage companies, and technology providers. Major advertising agencies have extensive networks of digital displays in prime locations worldwide, giving them a significant market presence. These companies leverage their experience and global reach to offer advertisers extensive coverage and strategic placement. Simultaneously, tech-focused firms provide programmatic solutions and content management platforms, enabling advertisers to efficiently manage and optimize their DOOH campaigns. Innovative startups specialize in data analytics, enabling advertisers to refine their targeting and measure campaign effectiveness. Furthermore, partnerships and acquisitions have become common as companies seek to expand their offerings and market reach.

Competition Analysis

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• APG|SGA
• Clear Channel Outdoor Holdings Inc.
• Global Media
• JCDecaux
• Lamar Advertising Company
• oOh!media Limited
• Outfront Media Inc.
• Stroer

Recent Developments:

In May 2023, JCDecaux SE announced the acquisition of Clear Channel Outdoor Holdings, Inc. complementing the former's presence in Italy and Spain, in an increasingly digitised outdoor advertising market.

In April 2023, OUTFRONT Media Inc. announced that its subsidiary, Outfront Media Canada LP collaborated with RCC Media Inc., to rollout 39 digital bridge overpass screens and 8 large format digital bulletins throughout the Greater Toronto Area.

• In July 2023, oOh!media launched an expanded data suite for audience-led campaign planning and attribution. They've signed a long-term Out of Home partnership with Unpacked by Flybuys, leveraging transactional data from 9 million Flybuys members and 2 billion Westpac card transactions

Key Questions Answered in This Report

1. What was the size of the global digital OOH advertising market in 2023?
2. What is the expected growth rate of the global digital OOH advertising market during 2024-2032?
3. What are the key factors driving the global digital OOH advertising market?
4. What has been the impact of COVID-19 on the global digital OOH advertising market?
5. What is the breakup of the global digital OOH advertising market based on format type?
6. What is the breakup of the global digital OOH advertising market based on the application?
7. What is the breakup of the global digital OOH advertising market based on the end-user?
8. What are the key regions in the global digital OOH advertising market?
9. Who are the key players/companies in the global digital OOH advertising market?