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According to outdoor media association (OMA), OOH drives more online activity per ad dollar spent than any other media and is 382% more effective than TV, 200% more effective than print, and 63% more effective than radio in driving customers to the online platform. By their report, global infrastructure cost on OOH advertising is projected to exceed US$ 210 Bn by 2026.
Out of Home (OOH) Advertising is a form of rented medium for displaying and visibly conveying commercial information on structures and arrangement implemented out of doors. It includes digital static panels and considered as a bulk-market medium usually operated for broad messages, branding and support campaigns across the urban outdoor environment.
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The growth of digital advertising and networks and rise in NFC and GPS technology are expected to drive the global OOH market. Further, increased spending on programmatic advertising, deployment of smart cities, and advancement in display technologies are expected to drive the growth of the market. Additionally, global companies in this market are focusing on mergers and acquisitions with other significant companies to expand their product portfolio globally.
For instance, in 2018, Ayuda Media Systems and Blip Inc. formally announced their partnership, this signifies that global business customers of blip Inc. can now use Ayuda’s OOH advertising inventory management and business operations platform, this will result in the growth of programmatic advertising.
The key companies in out of home advertising market include JCDecaux Group, Clear Channel Outdoor Holdings Inc., OUTFRONT Media, Daktronics Dr., Prismview LLC, NEC Display Solutions Ltd., OOH advertising! Media Ltd., Broadsign International LLC., Stroer SE & Co. KGaA, Mvix, Inc., Christie Digital Systems Inc., and others.
● Digital Billboards
● Street Furniture
By Industry Vertical
● M&E (Mechanical and Electrical)
● North America (the USA and Canada)
● Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
● Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
● Latin America (Brazil, Mexico and Rest of Latin America)
● Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Globally, Europe will be the major revenue contributor to the out-of-home digital advertising market and is estimated to witness a significant CAGR over the forecast period from 2018 - 2026. The national media industry in countries of this region is focusing on strategic mergers and acquisitions with local players to expand more robustly. For instance, in 2018, Europe Global Media & Entertainment Limited has acquired both Primesight media and Outdoor Plus to become a major player in the out-of-home (OOH) advertising market. Similarly, in 2018, in South Africa, to provide advertising on the outside of transit sources, Provantage Media mergers with MASSIV TV and Pit Stop Taxi Group to operate in more than 1000 vehicles nationwide.
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