According to the report by Allied Market Research, the global digital out of home industry was estimated at $18.80 billion in 2020, and is anticipated to hit $58.67 billion by 2031, registering a CAGR of 11.6% from 2022 to 2031. Reduced cost of digital screens across the world, rapid digitization & decline in demand for traditional billboards, and ease in data integration drive the growth of the global digital out of home market. However, rise in demand for digital signage solutions in the automotive, retail, telecom, and healthcare industries and rapid urbanization across the world are projected to create lucrative opportunities in the industry.
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Key players in the industry
Competitive analysis and profiles of the major digital out of home market players that have been provided in the report include, such as Broadsign International, Inc., Clear Channel Outdoor Holdings, Inc., Daktronics, Inc., JCDecaux SA, Lamar Advertising Company, NEC Corporation, Ooh!mediaLtd, Outfront Media Inc., Samsung Electronics Co. Ltd., and MvixInc.
The report analyzes these key players in the global digital out of home market. These players have incorporated various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in assessing the operating segments, their business performance & product portfolio, and so on.
The report offers an explicit analysis of the changing market trends, top segments, key investment pockets, value chain, competitive scenario, and regional landscape. The market study is exclusively meant to help the readers with a complete valuation of industry analysis and trends.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the digital out of home market analysis from 2020 to 2031 to identify the prevailing digital out of home market opportunities.
- Digital out of home Industry research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the digital out of home market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global digital out of home market trends, key players, market segments, application areas, and market growth strategies.
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The Billboard Segment to rule the Roost
Based on format type, the billboard segment generated the major share in 2020, holding more than two-fifths of the global digital out of home market. Digital billboards are primarily used for advertisement purposes, thus offering significant growth opportunities for the market. The others segment, however, would cite the fastest CAGR of 13.5% by 2031. This is because digital out-of-home advertisement is considered to be a significant backhaul solution in the digital advertisement infrastructure, majorly used in the automotive, retail, and healthcare sectors.
The Entertainment Segment to cite the fastest CAGR
By end-user, the entertainment segment would manifest the fastest CAGR of 14.9% from 2022 to 2031. Rise in demand for digital advertisement solution across the sports & entertainment industry is driving the market growth. The others segment, on the other hand, garnered the major share in 2020, holding more than one-fifth of the global digital out of home market, due to surge in the utilization of digital signage solutions across other sectors.
The Outdoor Segment to maintain the Lion’s Share
By application, the outdoor segment contributed to nearly three-fourths of the global digital out of home market share in 2020, and is expected to retain its dominance by 2031. Rise in demand for smart infrastructure solutions across emerging economies drives the segment growth. The indoor segment, however, is expected to exhibit the fastest CAGR of 14.3% from 2022 to 2031, due to rise in demand for enhanced interaction solutions across indoor facilities.
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North America Garnered The Major Share in 2021
Based on region, North America held the major share in 2020, generating around two-fifths of the global digital out of home market. Asia-Pacific, simultaneously, would garner the fastest CAGR of 13.0% by 2031. This is attributed to rising awareness of artificial intelligence and IoT technology across the province.
Digital Out of Home Market Report Highlights
| Aspects | Details |
|---|---|
| End-User | AutomotivePersonal Care and HouseholdsEntertainmentRetailFood and BeveragesTelecomBFSIOthers |
| Format Type | BillboardTransitStreet FurnitureOthers |
| Application | IndoorOutdoor |
| By Region | North America (U.S., Canada, Mexico)Europe (United Kingdom, Germany, France, Russia, Rest of Europe)Asia-Pacific (China, Japan, India, Australia, Rest Of Asia Pacific)LAMEA (Latin America, Middle East, Africa) |