Outdoor Advertising Market: Growth, Latest Trend & Forecast 2032

The global outdoor advertising market has reached a valuation of US$ 27.7 billion in 2022 and is predicted to accelerate at a CAGR of 6.4% to top a market size of US$ 51.4 billion by 2032.

Outdoor advertising is a cost-effective and perpetual solution for many small- and medium-sized organizations to reach mass audiences. Organizations are widely dependent on outdoor advertising with other media platforms to increase their customer base, brand value, and recall rate, as outdoor advertising accounts for around 20% of customers’ daily media consumption. Moreover, rapid digitalization and a growing focus on targeted marketing are key factors driving the demand for outdoor advertising. Enterprises investing more than 15% in outdoor advertisement observed higher returns than from other modes of advertisement.

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Key Takeaways from Market Study

  • The global outdoor advertising market is projected to expand at 6.4% CAGR and be valued at US$ 51.4 billion by 2032.
  • The market exhibited 5.6% CAGR between 2017 and 2021.
  • Under the service segment, billboards dominate the market with a share of 68%.
  • North America leads the global market with 34% market share in 2021.
  • Revenue from outdoor advertising services is expected to increase at CAGRs of 6.4% and 6.8%, respectively, in Europe and East Asia.

Competitive landscape:

Prominent out-of-home advertising service providers are JCDecaux, Clear Channel Outdoor, Ströer, Lamar, Focus Media, Outfront Media, oOh! Media, Asiaray, APG | SGA, Global Media, Al-Arabia, Ocean, Intersection, Metrobus, Clear media, Anchour, Insite Street Media, Advision Outdoor, Lind Outdoor, Tyler Outdoor, and Young Electric Sign Company.

The global outdoor advertising market is expected to be highly competitive with the adoption of various strategic initiatives such as partnerships and acquisitions by the market players.

For instance :

  • In 2018, Single Outdoor Advertising, which is a transit & street furniture company, merged with Martin Outdoor Media to offer transit bench, bus advertising coverage and coast-to-coast transit shelter in partnership with municipalities and transit authorities in metropolitan markets such as Atlanta, New York, and others.
  • In 2018, Europe-based Global Media & Entertainment Limited acquired Primesight Media and Outdoor Plus. This acquisition is focused on the enhancement of its footprint in the European region.

Fact.MR has provided detailed information about the service providers of outdoor advertising positioned across regions, sales growth, and service offering expansion, in the recently published report.

 

Segmentation of Outdoor Advertising Industry Research:

·         By Type :

  • Traditional Outdoor Advertising
  • Digital Outdoor Advertising

·         By Service :

  • Billboards
  • Transit Advertising
  • Street Furniture Advertising
  • Placed-based Advertising

·         By End-use Industry :

  • BFSI
  • Retail and Consumer Goods
  • Business and Consumer Services
  • Healthcare
  • Manufacturing
  • Transportation and Mobility
  • Energy and Utility
  • Trading and Warehousing
  • Media & Entertainment
  • Hospitality

·         By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA

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Questionnaire answered in the Market outlook Report of Outdoor Advertising include:

  • What is the key strategy deployed by large players to maximize Outdoor Advertising Market growth?
  • What are the main challenges faced by players in the Outdoor Advertising market Demand?
  • With the advent of technological advancement, how will the Outdoor Advertising market landscape change over the forecast period?
  • What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Outdoor Advertising market size?

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global advertising market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of type (traditional outdoor advertising, digital outdoor advertising), service (billboards, transit advertising, street furniture advertising, placed-based advertising), and end-use industry (BFSI, retail & consumer goods, business & consumer services, healthcare, manufacturing, transportation & mobility, energy & utility, trading & warehousing, media & entertainment, hospitality, others), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).

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