LONDON--(BUSINESS WIRE)--The global digital OOH market is expected to decelerate at a CAGR of around 10% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
OOH advertising is gaining popularity among businesses due to its advantages over traditional advertisements. Digital signage displays can be integrated with dynamic content to engage more consumers than print media. It also offers the flexibility to make constant changes in advertisements or messages, thereby eliminating the need for multiple boards. Moreover, digital displays are a cost-effective and eco-friendly way of advertisement as they eliminate the need for paper. Owing to many such advantages, the adoption of digital displays is expected to increase during the forecast period.
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As per Technavio, the use of AI in OOH advertising will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Digital OOH Market: Use of AI in OOH Advertising
Businesses are making significant investments to implement data analytics to analyze and remotely track audience engagement with OOH advertisements. The integration of AI helps businesses understand various factors such as customer time, likes, dislikes, and social purchase history. Companies leverage such information to create customized advertisements to effectively target potential customers. This is helping them increase the efficiency of their advertisements, thereby fueling the growth of the global digital OOH market.
“Apart from the use of AI in OOH advertising, market consolidation and integration of technologies for digital signage are some other major factors that will boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Digital OOH Market: Segmentation Analysis
This market report segments the global digital OOH market by application (retail, recreation, banking, transportation, education, and other applications), type (in-store advertising and outdoor advertising), category (billboards, shelter, transit, and street furniture) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the growth of the retail industry in countries such as China, Hong Kong, India, Malaysia, and Singapore.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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