Increasing Global Demand For Digital Out-of-home Advertising Market With Rising CAGR Forecast Till 2028Posted by Mrudula Karmarkar on November 28th, 2022 The global digital out-of-home advertising market size is expected to reach USD 16.8 billion by 2028, registering a CAGR of 13.8% from 2022 to 2028, according to a new report by Grand View Research, Inc. The growing rapid urbanization in emerging economies is accelerating market growth. The increasing popularity of digital outdoor advertising among the various industries in recent years to offer information about their company and products is expected to accelerate the market growth. Moreover, the rising effectiveness of digital out-of-home advertising in developing countries due to variables like creative ad design, consumer perception, and geo-location is up surging the market growth in the upcoming years. Moreover, digital out-of-home advertising is rapidly gaining popularity owing to having more engagement of customers, and the rising brand awareness are accelerating the market growth. Furthermore, a lockdown situation has been observed during the COVID-19 pandemic that showed a negative impact on the digital out-of-home advertising market due to many advertisers slashed marketing budgets or paused their spending on advertising during this period. Moreover, the increasing spending on out-of-home advertising after the ease of several restrictions is expected to boost the market growth in the forecast period. The transit & transportation segment is expected to register the highest CAGR of 15.7% from 2022 to 2028. The increasing adoption of digital outdoor advertising for brand awareness and promotion of the various products through the various transport mode has significantly accelerated the growth of this segment. Additionally, rising investment in digital out-of-home advertising by the various advertisers due to the high engagement of customers in the transit & transportation segment is driving the market growth. The government segment is expected to grow with a higher CAGR of 15.6% from 2022 to 2028 of the global market. The increasing spending on digital outdoor advertising by various political parties and other organizations in recent years for various protests and campaigns is expected to boost the market growth in the forecast period. Moreover, the rising popularity of out-of-home advertising for promoting government policies and increasing awareness about various schemes are driving the growth of the market. North America dominated the market with a revenue share of more than 35% in 2021. The growing transport infrastructure development like roads and trains is propelling the outdoor advertising market in this region. Furthermore, the increasing investments associated with out-of-home advertising are expected to drive the market growth in this region. Additionally, an eye-catching and interactive advertising strategy in digital outdoor advertising is accelerating market growth. To Request Sample Copy of this report, click the link: Digital out-of-home advertising is one of the fastest-growing advertising types due to expansion into new venues & markets, innovation, and enhanced features in outdoor advertising are accelerating the market growth. Moreover, the increasing demand for creative and interactive displays of full-motion video and the inclusion of animation has expected to drive market growth in the forecast period.Digital out-of-home advertising is a form of outdoor advertising for outdoor and integrating both digital components and offline out-of-home advertising. These digital advertisements are displayed on real estate present in various locations that are publicly accessible. Digital out-of-home advertisements provide innovative and creative content and it becomes more interactive and creative due to the display of data on digital screens in real-time. This feature results in better visibility of digital screens. the growing trend for interactive advertisements for consumers results in the increased adoption of digital out-of-home advertisements hence driving the market growth. Digital Out-of-home Advertising Report Highlights
Digital out-of-home advertisements are cost-effective using which commercials can reach a wide range of populations thus their usage is high and increasing thus fueling the market growth in the forecast period. Additionally, the growing urbanization and rising infrastructure development across the globe are anticipated to propel the market growth during the forecast period. Furthermore, the increasing spending on outdoor advertising by various industries owing to its ability to run multiple advertisements on a single screen is accelerating market growth. Digital outdoor advertising is gaining popularity in the advertising world as it creates brand awareness among people and also compliments the brand’s advertising campaigns on other channels, which are projected to accelerate the market growth. Moreover, as individuals spend more time outside their office and home, that allows brands to reach a mass audience consistently and rapidly through out-of-home advertising is accelerating the market growth in the forecast period. However, the intense competition among the vendors of the out-of-home advertising business is restraining the market growth. List of Key Players in Digital Out-of-home Advertising Market
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