Author: Himanshu Patni
21 November 2022
Global 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.
According to the researcher, over 50% of people say they’ve been highly engaged by a billboard they’re seen in the last month. As retail companies are growing rapidly their competitors are getting tougher. For attracting customers more attractive billboards are placed in various places such as highways, vehicles, and many more. Nowadays, artificial intelligence used digital billboards are replacing the old painted billboards. Furthermore, increasing infrastructural developments and rising urbanization will drive the market. However, some of the restraints are high volatility in the pricing of OOH advertising and stringent regulations which are impeding the growth of the market.
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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. 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.
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 as billboards are typically placed in high-traffic areas, such as along highways so they’re seen by the highest number of drivers and pedestrians. Research shows that 75% of people who drive, ride or walk in front of these billboards consciously look at them.
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For a better understanding of the market adoption of billboard and outdoor advertising market, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. APAC constitutes a major market for the billboard and outdoor advertising industry in 2020 owing to the presence of the increasing number of commercial spaces in the region.
Some of the major players operating in the market include 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.
Global Billboard and Outdoor Advertising Market Segmentation
Market Insight, by Type
Market Insight, by Application
Market Insight, by End-Users
Market Insight, by Region
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