Global DOOH media spending grew at 24.9% in 2022: PQ Media report
By M4G Bureau - January 11, 2023
Strong growth forecast for 2023
PQ Media has released the 13th edition of its Global Digital Out-of-Home Media Forecast 2022-2026, a key source of consistent, comprehensive and in-depth strategic intelligence providing exclusive industry data, drill-down market insights and five-year growth projections of digital and traditional OOH media ad spending and consumer time spent with OOH media across every major indoor venue and outdoor location channel worldwide. The various OOH media platforms and venue categories covered in the new Forecast are:
- Digital & Traditional OOH Platforms
- Place-Based Video Networks
- Digital Billboards & Signage
- Static Billboards & Signage
- Ambient OOH Media
- Venue & Location Channels
- Healthcare & Point-of-Care
- Sports & Entertainment
- Corporate & Education
The following are a few key highlights from the new Forecast report:
- Global DOOH media spending, including digital place-based networks and digital billboards & signage, grew at an accelerated 24.9% in 2022, driven by a 36.9% surge in the US.
- Both global and US DOOH ad spend are poised for strong growth again in 2023.
- Emerging strong from the debilitating impact of the pandemic and the global lockdowns, DOOH media became one of the fastest-growing media sectors in the world in 2022.
- After plunging 26.0% in 2020, global and US DOOH ad spend rebounded for two consecutive years of double-digit growth, fuelled by various red-hot DOOH network and signage segments.
- Global digital place-based network ad spend jumped 25.7% to $12.29 billion in 2022, while global digital billboards & signage surged 23.5% to $6.56 billion, driven by high double-digit growth in the healthcare, retail, sports & entertainment, transit, and the heavily battered cinema category.