Digital Out of Home (DOOH) Market to 2027 – Global Analysis and Forecasts by Type, End User, Geography
PUNE, INDIA, January 31, 2020 /EINPresswire.com/ — Rising demand from the Retail industry will escalate the Digital OOH Market at a CAGR of 11.3%
Latest market study on "Digital Out of Home Market to 2027 – Global Analysis and Forecasts by Type (Billboards, Transit, Street Furniture, Place-Based); and End User (Automotive, Retail, Consumer Products, BFSI, Telecom, and Others)", The global Digital Out of Home market is accounted to US$ 6,084.1 Mn in 2018 and is expected to grow at a CAGR of 11.3% during the forecast period 2019 – 2027, to account to US$ 15,905.7 Mn by 2027. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
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Under end user segment, retail is the leading industry. The adoption of digital out-of-home (OOH) is high in this industry. Advertisement featured on digital display is mainly comes from retailers. For instance, in April 2019, H&M, a clothing retailer has executed a number of advanced deployments, such as an interactive voice mirror in Times Square, New York City. It is installed through a collaboration with digital signage provider Visual Art, digital experiences provider Ombori and Microsoft Corporation. The retail chains are considered to be the ideal environment for DOOH solutions. Geographically scattered with several departments, the CMOs in the industry greatly benefit from the flexibility and precision offered by DOOH advertisement. The FMCG sector is among the major contributors to the Digital OOH in retail industry, and is also expected to make the most from available information such as sales performance, weather, and time of the day. Furthermore, location based OOH is the widely adopted strategy among the retailers, where dynamic localization is not just used by FMCG and food, but the fashion retailers are also showcasing noteworthy interest in location-based DOOH content. Geographically, the market for digital out-of-home (OOH) is dominated by Asia pacific region.
Growing demand of Digital Advertising worldwide
The digital out of home market is swiftly switching towards digitalization as traditional advertisers gradually realize the value of trading static billboards for digital. Digital out of home can deliver content that responds to the audience directly. With the rising digital targeting tools, advertisers are targeting the audience and increase the overall effectiveness of their campaign.
Replacement of Traditional Billboards with Digital Billboards is fuelling the market growth
Consumers now have access to numerous modes, but they are more attracted to digital channels as they provide information on a real-time basis and they are more engaging. Digital modes are more accessible in generating a larger scope for highly developed conversations with consumers. A digital billboard is an effective form of advertisement which reaches people through an interactive way. Many government agencies depend on digital billboards to deliver emergency messages and allow the public to help law enforcement. In the U.S the adoption of digital billboards is high. U.S consumer gets attracted easily towards the billboards while crossing the roads. Hence, these factors are boosting digital out of home market.
The global digital out of home market by type has been segmented into billboards, transits, street furniture and place – based. The billboards is the most common used form of advertisement. Billboards are rapidly shifting to larger screens with either static or animated images. The digitalization in billboard based advertisement techniques, as per the OOH industry is an advertisement alternative that has driven intimate, dynamic and enduring brand relationship with consumers. Hence, digital billboards are driving the global digital out of home market.
End User Insights
By end-user the digital out of home market has been segmented into automotive, retail, consumer products, BFSI, telecom, and others. Under end user segment, retail is the leading industry in the global digital out of home market. The adoption of digital out of home market is high in this industry. Advertisement featured on digital display is mainly from retailers. For instance, in April 2019, H&M, a clothing retailer has executed a number of advanced installations, like an interactive voice mirror in Times Square, New York City. It is installed through a collaboration with digital signage provider Visual Art, digital experiences provider Ombori and Microsoft Corporation.
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Reasons to Buy:
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the Digital Out of Home Market, thereby allowing players to develop effective long term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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Source: EIN Presswire