DOOH Market set to grow at 13.1% CAGR through 2034, says Precedence Research

A new report by Precedence Research projects that the global Digital Out-Of-Home (DOOH) advertising market will grow from USD ~25.4 billion in 2024 to USD 89.9 billion by 2034, representing a compound annual growth rate (CAGR) of 13.1 % over the forecast period.  The findings reflect how outdoor media is increasingly shifting from static to digital, driven by urbanization, smart infrastructure, and demand for dynamic messaging. 

Dominant formats, technologies & market share breakdowns 

According to the report: 

• Format share (2024): Digital billboards lead with around 42 % share of the DOOH format types. 

• Location split (2024): Outdoor DOOH captures ~68 % of revenues, with indoor formats accounting for the remaining ~32 %. 

• Technology dominance: The LED display segment holds the largest share at ~63 % in 2024, courtesy of its brightness, durability, and proven performance in outdoor settings. 

• Growth in projection systems: Projection and facade mapping displays are projected to grow at a CAGR of ~11.4 %, becoming important in experiential DOOH and creative facades. 

• Video segment growth: The video advertising format is expected to expand at a CAGR of ~13 % during the forecast period, as moving visuals attract more attention and creative flexibility. 

The report also outlines richly the end-user segments: 

• Retail was the leading industry in 2024, holding about 30 % of DOOH spend. 

• Healthcare is forecasted to grow with a CAGR of 10.6 %, reflecting increased investments in public health messaging and dynamic awareness campaigns. 

Regional perspectives: who leads & who grows fastest 

Precedence Research highlights regional performance and forecasts: 

• North America emerged as the largest market in 2024, commanding about 37 % of the global DOOH market.  This is attributed to mature infrastructure, high adoption of programmatic platforms, and dense transit/retail networks.

• Asia Pacific is projected to be the fastest growing region, with an estimated CAGR of 11.8 % driven by rapid urbanization, rising disposable incomes, and expanding DOOH deployments across transit hubs and commercial zones.  The report specifically identifies China, India, and Southeast Asia as key growth engines.

• Europe, Latin America, and MEA regions are also covered, with Europe maintaining steady growth due to smart city initiatives and regulatory support for outdoor media modernization. 

Market drivers, restraints & opportunities 

Key drivers cited in the report include: 

• Flexibility & dynamic content: DOOH allows instant content updates across screens without physical replacements. 

• Programmatic & AI integration: Programmatic buying, real-time analytics, predictive models, and audience targeting are elevating DOOH’s efficiency and effectiveness. 

• Urbanization & infrastructure expansion: Smart city development, transit system upgrades, growing malls and airports, and public mobility projects are creating new outdoor digital inventory. 

• Omnichannel synergy: DOOH is becoming part of an integrated media mix, linking digital, mobile, and offline touchpoints. 

However, the report also notes significant restraints: 

• High costs of installation & maintenance for large or interactive digital displays, including repair, power, and hardware upkeep. 

• Technology and reliability issues under outdoor conditions (weather exposure, environmental stress, screen degradation). 

• Market fragmentation and lack of standardization, which hamper scalable, cross-border programmatic integration. 

The report also points to areas of opportunity: 

• Transit infrastructure deployment (metros, airports, rail, bus systems) is a fertile ground for DOOH adoption. 

• Creative projection mapping and facade activations — leveraging architectural skins as digital surfaces — are expected to become more widely used. 

Competitive landscape & recent developments 

Precedence lists key players shaping the DOOH ecosystem: 

• Tier I leaders: JCDecaux; Clear Channel Outdoor; Lamar Advertising; OUTFRONT Media; Ströer SE & Co. KGaA. 

• Tier II & emerging players: Broadsign, Daktronics, Prismview (NEC), oOh!media, Ayuda Media Systems, Deepsky Corporation, and others focusing on technology, content, or regional expansion. 

Recent developments noted include: 

• In November 2024, consumer health giant Haleon selected Vistar Media (in partnership with Publicis) to power its global programmatic OOH campaigns. 

• In October 2024, DLM Media Solutions formed a partnership to become the exclusive national service fulfillment partner for CETV Now, expanding DOOH network reach and operations. 

Forecast & projection highlights 

Over the forecast period 2025 to 2034, the DOOH market is expected to grow steadily as infrastructure, technology, and advertiser appetite align. Some salient projections: 

• Video advertising formats are projected to grow at ~13 % CAGR, becoming increasingly favored for their dynamic appeal and impact. 

• Indoor DOOH (malls, airports, office towers) is expected to expand at ~12 % CAGR, supported by growth in retail real estate. 

• Projection / mapping systems will gain ground with ~11.4 % CAGR, especially in experiential and landmark campaigns. 

The report’s scope includes multiple segmentation axes (format type, location, end-user industry, technology, region), covering five geographic regions — North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.