Billboard and Outdoor Advertising Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
Emphasis on Type (Painted Billboard, Digital Billboard, Multipurpose Billboard, Others); Application (Highways, Buildings, Automobiles, Others); End-User (Retail, Banks and Financial Institutions, Media and Entertainment, Government, Transportation, and Others); Region/Country
The billboard and outdoor advertising market is expected to register a CAGR of approx. 8% over the period of 2022-2028. The billboard and outdoor advertising market include the sale of billboards and outdoor advertising services and related goods by entities (organizations, sole proprietors, and partners) that create and design public display advertising campaign materials, such as printed, painted, or electronic screens and/or place such displays on indoor or outdoor billboards and billboards, or on or inside vehicles or public transport facilities, malls, retail (in-store) displays, and other structures or displays. Only goods and services exchanged between entities or sold to final consumers are included. The billboard and outdoor advertising market is growing at an influential rate and is anticipated to grow at a significant CAGR during the forecast period. Factors such as an increase in digital out-of-home advertising, increasing retail company and internet penetration, growing innovation in advertising, and rising spending on advertising are positively influencing the billboard and outdoor advertising market. For instance, according to some researchers, there are currently 342,306 billboards in the US and almost 8,000 of these are digital billboards. Furthermore, Infrastructural development, particularly in emerging economies, will increase the space which can be used for outdoor advertising. Thereby, boosting the market growth.
BroadSign International LLC, Daktronics Inc., TOM Group Limited, APG SGA, Mozmene, Talon Outdoor Ltd, Zo Digital, oOh!media Limited, The Times Group, Eye Media LLC are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst Type, the painted billboard category accounted for the majority share in the market in 2020”
Based on type, the market is classified into painted billboards, digital billboards, multipurpose billboards, and others. Amongst types, the painted billboard category accounted for a significant share of the market. Billboards allow businesses to reach many customers with just one advertising trick. Billboards allow businesses to reach many customers with just one advertising trick. The growth of the segment can be attributed to the growing popularity of these billboards as they are more attractive. Moreover, painted billboards build brand awareness among people and target a variety of customers.
“Among Applications, the highways are expected to witness highest CAGR during the forecast period”
Based on application, the market is categorized into highways, buildings, automobiles, and others. Among these, highways are expected to witness the highest CAGR during the forecast period. Billboards are usually placed in very high traffic areas which include cities, along busy highways, on buses, near airports, near stadiums, or on the walls of buildings. The purpose of a billboard is to be seen by many cyclists, drivers, or pedestrians. Research shows that 75% of people who drive, ride, or walk in front of these billboards consciously look at them.
“Among End-Users, the retail is expected to witness highest CAGR during the forecast period”
Based on end-users, the market is categorized into retail, banks and financial institutions, commercial buildings, media entertainment, government, and transportation. Among these, retail is expected to witness the highest CAGR during the forecast period. This is because of the growing trend for more interactive billboards that will attract and engage new customers. These new interactive billboards will appeal to a niche market with a personal and engaging message based on well-researched information on consumer habits, preferences, and preferences that significantly contribute to the growth of the market.
“APAC to witness significant growth during the forecast period”
For a better understanding of the market dynamics of the billboard and outdoor advertising market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. APAC constitutes a major market for the billboard and outdoor advertising market industry in 2020 owing to the rapidly growing infrastructure in the region.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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|2.1.||Research Process of the Billboard and Outdoor Advertising Market|
|2.2.||Research Methodology of the Billboard and Outdoor Advertising Market|
|5||GLOBAL BILLBOARD AND OUTDOOR ADVERTISING MARKET COVID-19 IMPACT|
|6||GLOBAL BILLBOARD AND OUTDOOR ADVERTISING MARKET REVENUE, 2020-2028F|
|9.2.||Banks and Financial Institutions|
|9.3.||Media and Entertainment|
|10.1||NORTH AMERICA BILLBOARD AND OUTDOOR ADVERTISING MARKET|
|10.1.3||Rest of North America|
|10.2||EUROPE BILLBOARD AND OUTDOOR ADVERTISING MARKET|
|10.2.6||Rest of Europe|
|10.3||ASIA PACIFIC BILLBOARD AND OUTDOOR ADVERTISING MARKET|
|10.3.5||Rest of Asia Pacific|
|10.4||REST OF THE WORLD BILLBOARD AND OUTDOOR ADVERTISING MARKET|
|12||BILLBOARD AND OUTDOOR ADVERTISING MARKET OPPORTUNITIES|
|13||BILLBOARD AND OUTDOOR ADVERTISING MARKET TRENDS & INSIGHTS|
|14||LEGAL & REGULATORY FRAMEWORK|
|15.1||Demand Side Analysis|
|15.2||Supply Side Analysis|
|16||VALUE CHAIN ANALYSIS|
|17.1||Porter’s Five forces analysis|
|18.1.||BroadSign International LLC|
|18.3.||TOM Group Limited|
|18.6.||Talon Outdoor Ltd|
|18.9.||The Times Group|
|18.10.||Eye Media LLC|
Research Methodology for the Global Billboard and Outdoor Advertising Market Analysis (2022-2028)
Analyzing the historical market, estimation of the current market, and forecasting the future market of the global billboard and outdoor advertising market were the three major steps undertaken to create and analyze the adoption of billboard and outdoor advertising in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global billboard and outdoor advertising market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the billboard and outdoor advertising market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the billboard and outdoor advertising market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as type, application, and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the billboard and outdoor advertising market. Further, we conducted factor analysis using dependent and independent variables such as various types, applications, and end-users of billboard and outdoor advertising. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the billboard and outdoor advertising market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global billboard and outdoor advertising market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the billboard and outdoor advertising market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global billboard and outdoor advertising market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global billboard and outdoor advertising market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, application, and end-users in the global billboard and outdoor advertising market.
The main objective of the Global Billboard and outdoor advertising Market Study
The current & future market trends of global billboard and outdoor advertising market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of billboard and outdoor advertising market in terms of Value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type, application, and end-users
- Define and analysis of the regulatory framework for the billboard and outdoor advertising market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the billboard and outdoor advertising market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and Rest of the world.
- Company profiles of the billboard and outdoor advertising market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry