Global Outdoor Advertising Market 2020-2024| Growing Penetration of LED Mobile Billboards to Boost Market Growth | Technavio

Technavio has announced its latest market research report titled Global Outdoor Advertising Market 2020-2024 (Photo: Business Wire)

LONDON--()--The outdoor advertising market is expected to grow by USD 8.55 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report

The growing penetration of LED mobile billboards is expected to drive the growth of the market during the forecast period. LED mobile billboards are devices that are placed by the side of a trailer or a truck for advertising. The primary advantage of these devices is their movability factor. They can be moved to physical locations to get maximum viewers. These billboards can reach a large number of audiences through LED display ad campaigns. Ads through these devices can be used to target specific demography by covering places such as sports events, schools, and conventions. Also, mobile billboards are more likely to catch the eyes of the audience as they provide good visibility.

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As per Technavio, the use of analytics to increase the effectiveness of ads will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Outdoor Advertising Market : Use of Analytics to Increase the Effectiveness Of Ads

The use of analytics to increase the effectiveness of an ad is one of the major trends being witnessed in the global outdoor advertising market. Advertisers and marketers are seeking to manage ad campaigns remotely from office or home. Hence, they are increasingly implementing data analytics to analyze and track audience engagement with outdoor ads. They can then customize ads as per the demography based on their insights. This is encouraging various vendors to invest and develop software and analytics that will help them in increasing efficiency as well as provide advertisers and marketers more time to market their products or services. This, in turn, will help them to focus more on their marketing strategy and contribute to the growth of the overall market.

“Factors such as the use of AI with outdoor advertising, and the integration of outdoor ads with mobile phones will have a positive impact on the growth of the outdoor advertising market value during the forecast period,” says a senior analyst at Technavio.

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Outdoor Advertising Market: Segmentation Analysis

This market research report segments the outdoor advertising market by type (billboards, shelters, transit displays and street furniture), platform (physical outdoor advertising and digital outdoor advertising), and geography (APAC, Europe, MEA, North America and South America).

The APAC region LED the outdoor advertising market in 2019, followed by North America, Europe, South America and MEA. During the forecast period, the APAC region is expected to register the highest incremental growth due to the increase in spending by enterprises on online digital ads.

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Some of the key topics covered in the report include:

Type

  • Billboards
  • Shelters
  • Transit displays
  • Street furniture

Platform

  • Physical outdoor advertising
  • Digital outdoor advertising

Geographic Segmentation

  • APAC
  • Europe
  • MEA
  • North America
  • South America

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Release Summary

The outdoor advertising market is expected to grow by USD 8.55 billion during 2020-2024, according to Technavio

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/