Market Trends of Digital Out of Home (OOH) Advertising Industry
This section covers the major market trends shaping the Digital Out of Home (OOH) Advertising Market according to our research experts:
Transit Accounts for a Significant Share of Digital OOH Market
- The demand for digital content and information relevant to travelers has resulted in interactive commercials via various modes of advertisement, such as Kiosks, billboards, and Signboards, on the platform, which contributes to a large share of the increase in transportation media revenues.
- As a result, there has been a change in the behavior of consumers in terms of customer engagement across all means of transportation, allowing companies to grow their brands in the minds of their customers strategically. Over the next three years, this will drive potential customers away from traditional media.
- Transit is the most prominent segment, as public transportation is the preferred mode of transportation for a large portion of the population in Europe and Asia-Pacific, owing to advanced and dense public transportation infrastructure.
- Airports are an attractive setting for advertising, particularly for top-tier and luxury products, among numerous modes of transportation. Airports are under increasing pressure to find new techniques to generate revenue. By converting static displays like posters to digital presentations, airports may offer several sponsors instead of just one. This dramatically increases revenue. Additionally, by bringing in advertising partners, airports can share the cost burden of updating to new advertising technologies.
- Following airports, railways have seen significant adoption of digital out-of-home advertising. The rising demand for smart railway stations in emerging economies is driving up demand for DOOH.
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Asia Pacific to Register Significant Growth
- The Asia Pacific has the largest population of all the regions. With an increase in the urban population and increased purchasing power, Asia-Pacific is considered to be one of the largest growing markets for the Digital and OOH market.
- Consumers in Asia-Pacific and other emerging nations are following the footsteps of their western counterparts and are quickly migrating from traditional media channels to attractive digital mediums. This, in turn, is resulting in the growth of the digital out-of-home (OOH) advertising market across the region as the western counterparts, particularly the North American region, hold a significant presence in the market.
- Transportation is the most dominant segment, as public transport has been the preferred option by a significant population in Asia-Pacific due to its advanced and high-density public transport infrastructure.
- Moreover, the region is dominated by local players, like Times Internet and Shanghai Media Group, while major players, like JCDecaux also have considerable market share in this region.
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