LONDON--(BUSINESS WIRE)--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:
- Transit displays
- Street furniture
- Physical outdoor advertising
- Digital outdoor advertising
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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