Global OOH grew 2.2% (est.) in 2022, forecasted to grow at 5.1% in 2023: GroupM report

India’s advertising revenue growth is forecasted at 16.8% in 2023, higher than the 15.8% revenue growth forecast for 2022. The GroupM ‘This Year Next Year 2022 Global End of Year Forecast’ cites that this growth “is led by pure-play digital advertising, which accounts for the largest share (48.8%) in 2022 and is expected to continue rising above pre-pandemic levels. Retail media in India is forecast at $551 million in 2022 and is expected to nearly double by 2027. TV advertising, representing 36% of advertising market share, is expected to grow 10.8% this year and continue growing double digits, driven by strong growth in both traditional and connected TV”.

Growth in global OOH in 2022 will amount to 2.2% globally (excluding U.S. political spending), or 18.1% on an ex-China basis. “China, the largest OOH market for the last six years, has faced numerous city-wide lockdowns this year as a result of the government’s zero-COVID strategy, limiting the potential reach of outdoor advertising. Growth in China is projected to return in 2024, however, the channel is not projected to regain pre-pandemic levels within the next five years,” the report states.

Outdoor (Traditional & DOOH growth & share (2022 – 27) (in USD mn)

Source: GroupM ‘This Year Next Year 2022 Global End of Year Forecast’

Globally, OOH will surpass 2019 levels in 2024, with some markets like Brazil, Australia, France and the U.S. already above 2019 levels in 2022. 

The Global Summary Data Table provided in the report shows that DOOH will see faster growth in the period 2023-27 compared with traditional OOH. Along with that, DOOH's share of the outdoor advertising pie will also consistently increase from 33.3% in 2022 to 39.6% in 2027.