Outdoor Advertising Market Estimated to Reach US$ 52.3 Billion Globally By 2027 | CAGR of 7.5%
Outdoor advertising, also known as out-of-home advertising, is one of the oldest forms of promotions that advertises products and services in the public domain.
BROOKLYN, NY, UNITED STATES, February 14, 2023 /EINPresswire.com/ — According to the latest report by IMARC Group, titled “Outdoor Advertising Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on outdoor advertising industry trends. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The outdoor advertising market reached a value of US$ 33.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 52.3 Billion by 2027, exhibiting a CAGR of 7.5% during 2022-2027.
Outdoor advertising, or out-of-home (OOH) advertising, is a form of marketing that uses physical displays, such as billboards, signs, kiosks, banners, transit shelters, and other outdoor platforms, to reach potential customers. It is utilized to spread business-related information and promote products or services among enterprises. Additionally, it is also used to provide information regarding upcoming events, political campaigns, and other essential messages. It improves brand recognition, creates awareness about a company or product, and generates business leads. Moreover, it is utilized in conjunction with other forms of marketing, such as television, radio, print, and digital campaigns, to create a comprehensive and successful marketing strategy. It offers long-lasting and cost-efficient solutions with wide coverage.
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Market Trends:
The growing utilization of advanced technologies among the masses majorly drives the global market. Outdoor advertising is being widely adopted among businesses and enterprises to reach potential customers across the globe, where technology is increasingly being used to access information. With the rise of digital signage and various types of outdoor advertising, businesses are reaching consumers in more places, this is propelling the market. Along with this, the rising spending on outdoor advertising by various industries due to its ability to run multiple advertisements on a single screen is impacting the market favorably. Apart from this, brands and marketers are turning to point-of-sale (POS) campaigns to promote special or limited-edition products and create impulse purchases, thus driving the market. Furthermore, the advent of programmatic advertising that automates buying and selling online advertising space is creating a positive market outlook.
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Outdoor Advertising Market Segmentation:
Our report has categorized the market based on region, type and segments.
Breakup by Type:
• Traditional
• Digital outdoor advertising
Breakup by Segments:
• Billboard
• Transport
• Street furniture
• Other
Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
Note: We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.
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