Cost Saving Opportunities for the Global Outdoor Advertising Services Market: Technavio

Technavio has published a new report on the global outdoor advertising services market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--According to the latest procurement intelligence report from Technavio, the global outdoor advertising services market is expected to grow at a CAGR of 4.5% over the next five years due to a high level of urbanization that is leading to customer mobility.

The research report titled ‘Global Outdoor Advertising Services Market: Procurement Intelligence Report 2017-2021’ provides an in-depth analysis of category spend, best procurement practices, and cost saving opportunities, aimed at helping organizations achieve superior business performance. The report also provides insights on pricing, supplier positioning, and top companies, enabling sourcing professionals to improve their competitive advantage through procurement excellence.

“During the forecast period, the outdoor advertising services market will be driven by growth in innovative billboard shapes and sizes that provide creative avenues for advertising,” says lead Technavio procurement specialist Angad Singh for category spend intelligence. “In addition, increase in popularity of digital out-of-home that offers flexibility in executing campaigns, will also drive the market,” adds Angad.

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Cost saving opportunities in the global outdoor advertising services market

The adoption of various cost-optimization levers helps buyers of outdoor advertising services realize direct cost savings and enhance category management and value benefits (including reduced procurement complexities).

Technavio procurement experts have segmented the cost saving opportunities in the outdoor advertising services market into the following value-enhancement opportunities:

  • Adoption of technology
  • Supplier competition
  • Adoption of negotiation strategies
  • Optimization of procurement practices
  • Bundling of services

Adoption of technology saving aspects

Technologies such as AR, NFC, and beacon advertising can help brands to provide highly relevant and personalized content to customers, resulting in cost savings to the extent of 7% of the total category spend.

Buyers prefer to engage with suppliers that offer them agile and quick printing technology, which provides speedy output and high-quality images at low costs. Buyers also look for advances in technology such as the use of large screens to enhance service life and reduce maintenance costs, and the use of sensors to monitor the performance and use of billboards.

Supplier competition saving aspects

Optimization of supply pool segregation is critical in the global outdoor advertising services market. Technavio analysts suggest procurement of the right mix of experience, expertise, value-adds, and transparency in pricing.

An effective outdoor advertising strategy is important to help buyers estimate budgets and reduce expenses on the continual update of content on billboards or public transit mediums. Buyers require service providers to help them formulate concepts for designing advertisements that can effectively be placed and displayed (in the case of digital billboards) to ensure maximum ROI.

Bundling of services saving aspects

One of the most opportunistic strategic cost saving levers in the global outdoor advertising services market is the need for consolidation and unification advertising activities. Buyers prefer to engage with suppliers that offer them support for compelling and curated creative campaigns, including services such as media planning, buying, and printing and availability of latest technologies such as interactive billboards and AR billboards.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest procurement intelligence report from Technavio, the global outdoor advertising services market is expected to grow at a CAGR of 4.5% from 2017-2021.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com