According to a new report, published by KBV research, The Global Digital Out-of-home Advertising Market size is expected to reach $14.3 billion by 2028, rising at a market growth of 11.9% CAGR during the forecast period.
The Billboards segment acquired maximum revenue share in the Global Digital Out-of-home Advertising Market by Format in 2021, thereby, achieving a market value of $5.8 billion by 2028. The segment has expanded rapidly as smart advertising allows digital outdoor billboards to connect with their target audience. Furthermore, technology advances such as augmented reality and virtual reality are rendering outdoor advertising campaigns extremely visceral and compelling, resulting in market development.
Government segment is showcasing a CAGR of 12.4% during (2022 - 2028). The increasing use of digital out-of-home advertising by governments to raise awareness of new policies and initiatives is propelling the growth of the segment. Furthermore, the market is growing due to a rise in political spending on out-of-home advertising during the election campaign and different protests.
The North America is the fastest growing region in the Global Digital Out-of-home Advertising Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $4.9 billion by 2028. The Europe market is estimated to witness a CAGR of 11.5% during (2022 - 2028). Additionally, The Asia Pacific market would experience a CAGR of 12.5% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/digital-out-of-home-advertising-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of JCDecaux Group, Ströer SE & Co. KGaA, Clear Channel Outdoor Holdings, Inc., OUTFRONT Media, Inc., oOH!Media Limited, Broadsign International, LLC, Focus Media Information Technology Ltd., and Global Media Group Services Limited.
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Companies Profiled
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