According to the latest report by IMARC Group, titled “Global Outdoor Advertising Market Report and Forecast 2021-2026,” the market reached a value of US$ 38.6 Billion in 2020. The global outdoor advertising market size to reach a value of US$ 48.4 Billion by 2026. Outdoor advertising represents an advertising medium found outside homes or in the public domain. They are mainly utilized to communicate information about various events or promote numerous business products in outdoor locations, such as airports, shopping malls, bus shelters, railway stations, etc. Outdoor advertising is also used in indoor spaces accessible to the public, including movie theatres, medical waiting rooms, retail stores, etc. These advertisements also appear on public transports, including buses, trains, taxis, etc., to ensure extensive coverage.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Outdoor Advertising Market Trends:
The rising levels of digitization and the growing penetration of internet-based advertising platforms are some of the major factors driving the outdoor advertising market growth. As a result, several advertisers are adopting virtual screens, video content, motion graphics, projectors, etc., for specific demographics. Moreover, various advancements in advertising technology, including artificial intelligence (AI), IoT connectivity, near-field communication, etc., are augmenting the demand for digital screens to deliver relevant content in real-time. Additionally, the increasing modernization of public transports is facilitating the adoption of in-transit advertising, thereby driving the global market. Besides this, the declining costs of digital advertisement are expected to further stimulate the market growth of outdoor advertising in the coming years.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Storer Media
- Clear Channel Outdoor
- Lamar Advertising
Outdoor Advertising Market Segmentation:
Our report has categorized the market based on region, type and segments.
Breakup by Type:
- Digital outdoor advertising
Breakup by Segments:
- Street furniture
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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