New York, December 31, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Billboard And Outdoor Advertising Global Market Report 2022” – https://www.reportlinker.com/p04442213/?utm_source=GNW
The global billboard and outdoor advertising market is expected to grow from $ 61.67 billion in 2021 to $ 66.80 billion in 2022 at a compound annual growth rate (CAGR) of 8.3%. The growth is mainly driven by companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that have resulted in operational challenges. The market is expected to reach $ 87.76 billion in 2026 at a CAGR of 7.1%.
The Billboard and Outdoor Advertising market includes the sales of billboard and outdoor advertising services and related products by entities (organizations, sole proprietorships, and partnerships) that create and design advertising campaign material. public display, such as printed, painted or electronic displays and / or placing such displays on interior or exterior billboards and billboards, or on or inside vehicles or transit facilities, shopping malls, retail (in-store) displays and other display structures or sites. Only goods and services traded between entities or sold to final consumers are included.
The main types of billboards and outdoor advertising are painted billboards, digital billboards, multipurpose billboards, mobile billboards and others. A digital billboard is a billboard that displays digital graphics that are changed every few seconds by a computer.
Although digital billboards are primarily used for advertising, they can also be used for public service. The various applications of the services include highways, stations, buildings, automobiles, etc.
Asia-Pacific was the largest region for the billboard and outdoor advertising market in 2021. North America was the second largest region for the billboard and outdoor advertising market.
The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East & Africa.
The increase in digital out-of-home advertising (DOOH) is expected to help the growth of the billboard and outdoor advertising market. Out-of-home advertising (OOH) refers to out-of-home advertising and includes billboards, bus shelters, posters.
DOOH is an extension of OOH and includes outdoor signage, digital billboards, and TV screens. Unlike traditional billboards which display static images all the time, digital billboards display more live images and can show multiple advertisements and hence attract more consumers.
DOOH saw a 10% increase in OOH advertising worldwide, reaching nearly $ 16.75 billion in 2019. According to the Indian Institute of Digital Education, the global internet / digital advertising market was valued at $ 319 billion in 2019 and is expected to reach $ 1,089. billion by 2027, with a CAGR of 17.2% from 2020 to 2027. In recent times, DOOH has experienced lucrative growth and is expected to expand further in the coming years due to its engaging and interactive nature.
The expansion of programmatic media buying is a growing trend in digital outdoor advertising (DOOH). Programmatic advertising refers to the use of automated technology to purchase advertising space, unlike traditional methods of digital advertising.
This approach uses data insights and algorithms to deliver the right ads to the right person, in the right place, at the right price. About 82% of viewers were able to recall a DOOH ad they saw over a month ago.
Brands have now expanded their internal programmatic media buying capabilities. For example, in April 2021, PubMatic, Inc., a sell-side platform that delivers superior results for digital advertising, today announced that BT, a multinational telecommunications company, and Essence, a data and As part of GroupM, have successfully used a buyer-controlled fee structure to gain control and transparency over all programmatic inventory purchased through PubMatic. The collaboration between BT, Essence and PubMatic has provided BT with better visibility into the share of its total media spend reaching end publishers and helped them investigate the ‘unknown delta’ – advertising spend lost or not counted between advertisers. and publishers. during a programmatic auction.
Several regulatory standards used by governments around the world for advertising in particular places or spaces are a key factor hampering the growth of the global billboard and outdoor advertising market. In the UK, advertising of alcohol, electronic cigarettes, sweets and fast food is prohibited. less than 200 meters from a school.
Political advertising on bus shelters is also prohibited. The Advertising Practices Committee (CAP) deals with undisclosed advertising in the UK and has extensive regulations covering areas such as environmental claims, gambling and lotteries, and the sale and sale of alcohol. of electronic cigarettes to name a few.
Many states in the United States are adopting lighting standards to prevent glare from digital billboards to ensure that it does not affect the vision of people passing by. Puerto Rico and the other 12 states have made it mandatory for digital billboards to adjust brightness to the environment and light environment.
Digital billboards feature light sensors that adjust the brightness at different times of the day. These regulatory standards are for the betterment of society, but prove to be obstacles for the advertising industry.
In January 2021, Link Media Outdoor, a supplier of traditional and digital billboards in the United States acquired the outdoor advertising assets of Thomas Outdoor Advertising, Inc. for an unknown amount. Link’s Kansas footprint has been significantly strengthened with the acquisition of Thomas’ assets, which allows them to expand their service to advertisers and clients across the state. Thomas Outdoor Advertising, Inc is a United States-based billboard advertising company.
The countries covered by the billboard and outdoor advertising market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, Korea of the South, the United Kingdom and the United States.
Read the full report: https://www.reportlinker.com/p04442213/?utm_source=GNW
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