Global DOOH advt market to reach US$26.9 bn by 2025: ResearchAndMarkets.com
By M4G Bureau - October 28, 2020
The report states that digital technologies provide rich data and analytical insights that can be used for real-time OOH ad optimisation and agility
The global market for Digital Out-of-Home (DOOH) advertising is projected to reach US$26.9 billion by 2025, driven by the distinct shift towards digital technology in the media world, led by the advent of latest technologies and devices, according to ResearchAndMarkets’ finding.
This digital trend has affected traditional display formats, and caused fragmentation in the audience base. While print media has suffered considerable declines in readership due to the digitalisation trend, television media`s audience base has remained relatively unchanged with an additional shift seen in the form of greater choice of digital platforms becoming available to the audiences. For out-of-home advertising, there has been a significant growth, led by the increasing urbanisation of world`s population.
The introduction of digital solutions is transforming hitherto lethargic traditional outdoor advertising into a highly potent area of growth. Digital technologies like digital billboards are three times more impactful than static billboards. In addition, digital technologies provide rich data and analytical insights that can be used for real-time OOH ad optimisation and agility; interactive ads bring in more dynamic experiences than static messaging; integration of programmatic strategies ensure that OOH ad campaigns are auto-managed with reference to pricing, availability, scheduling of resources and audience targeting.
Developing and expanding ad ecosystems and networks in line with the rise of smart cities will offer explosive opportunities for growth in the coming years. Digital technology has enabled outdoor advertising format to become more flexible and relevant to consumers and advertisers, and also aided in extending its reach to a wider audience base. Given the inherent characteristic of outdoor advertising, digital technology is becoming well integrated with changing ways of consumers` interaction with advertisers. A significant advantage of using digital technology in outdoor advertising is that the relevance and interaction levels are offered at a relatively lower cost per contact given the rapidly expanding audience base.
Digital technology is also being used to quantify the medium’s contribution through measurement of audience engagement and return on investment in outdoor advertising, a capability that has particularly found favor with ad agencies and marketers. With the world becoming increasing connected socially, outdoor advertising is emerging as the mass medium with the ability to collaborate with the increasingly urban, mobile and social consumer.
Personalisation of DOOH advertising will emerge as a key trend in the market over the coming years. Linking mobiles of viewers to DOOH screens in the proximity, using location data, will become commonplace. Such mobile location-based marketing enables brands to target customers with more personalised advertising. Also, information gathered from phones will be anonymised by data vendors and carriers for selling to media owners. The data provides information of demographic groups for instance, information about business travelers who walk by an advertisement. Such data will be used alongside other insights like weather data and traffic related data for better localising ad content for DOOH advertising.