Billboard and Outdoor Advertising Market-Global Trends and Forecast 2014 to 2024
Posted by Rohit kadam on November 27th, 2017
Introduction:
A huge outdoor advertising board or structure usually installed in areas with heavy traffic such as highways or busy roads is called a billboard. A billboard presents vast advertising opportunities to passing pedestrians and drivers. Billboards are significantly visible in the above designated areas and shows wide and large visuals with seemingly appealing and witty slogans. Such advertisements are formulated to catch an individual’s attention swiftly to create a remarkable and memorable impression on the reader’s mind. Billboards carrying advertisements generally consist of lesser and precise content, with large prints and humorous and arresting font in an eye catchy color which can be easily read by passers or individuals driving at relatively higher speeds. Outdoor advertising, also known as out of home advertising, is a type of advertising which reaches the target audience and consumers who are outside on streets and public places. Outdoor advertising focuses on marketing to those consumers who are in transit, on the go, or waiting in queues at the doctor or any other commercial locations such as a retail stores. Various outdoor advertising options are available in the market. Most common mode of outdoor advertising is street furniture which comprises news racks, bus shelters, telephone booths and mall kiosk advertising.
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Market Dynamics:
Outdoor advertising using street furniture is majorly witnessed in urban areas with developed street furniture formats. In addition, street furniture outdoor advertising furnishes sincere benefits to distinct communities since maintaining and building these shelters is relatively less expensive and less tedious. Other outdoor advertising options include transit advertising which is typically a form of advertisement employed on any movable objects including subway advertising, buses, food trucks, truckside and taxis. It also involves electronic and fixed static advertising in bus and train stations. Also, airport advertising helps in targeting travelling audience. Airport advertising is generally adopted by municipalities since it furnishes huge revenues to port and city authorities. Increasingly automated and networked outdoor advertising infrastructure facilitates systematic and programmatic advertising and also helps in providing personalization of ads and dynamically manages and automates the inventory.
Market Classification:
Some of the major factors fueling the growth of Global Billboard and Outdoor Advertising Market include increasing number of digital outdoor advertising, rapid urbanization as well as significant development of the global economy. Moreover, other additional aspects such as improved audience, commuting trends and low cost advertising medium are some of the important factors expected to accelerate the global outdoor advertising market. However, several regulatory standards employed by governments across the globe for advertising at particular locations/spaces is a key factor hampering the growth of the global billboard and outdoor advertising market. Furthermore, digital billboards are not widely accepted due to high costs and huge maintenance and is anticipated to hinder the growth of overall market.
Regional Overview:
The global billboard and outdoor advertising market can be segmented on the basis of type, application and geography. On the basis of type, the global billboard and outdoor advertising market can be segmented into painted billboards, digital billboards, multi-purpose billboards, mobile billboards and others. On the basis of application, the global billboard and outdoor advertising market can be segmented into highways, railway stations, buildings, automobiles and others. By geography, the global billboard and outdoor advertising market can be segmented into North America, Latin America, Europe, Middle East & Africa (MEA) and Asia-Pacific.
Market Participants:
Key players in the global billboard and outdoor advertising market are focusing on market strategies such as expansion in developing regions, innovation in billboard installation techniques, etc. Some of the major players operating in the global billboard and outdoor advertising market are Capitol Outdoor LLC, Formetco Incorporated, Watchfire Signs, Advertising Association of America Inc., Daktronics Dr., Sony Corporation and LG Electronics among others.
Market Segmentation
Market by Type
Painted billboards
Digital billboards
Multi-purpose billboards
Mobile billboards
Others
Market by Application
Highways
Railway stations
Buildings
Automobiles
Others
Market by Geography
North America
o US
o Canada
o Mexico
Europe
o UK
o Germany
o France
o Rest of Europe
Asia-Pacific
o China
o Japan
o India
o Philippines
o Rest of Asia-Pacific
Latin America
o Brazil
o Chile
o Rest of Latin America
Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
o Rest of MEA
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