Outdoor Advertising Market Promises an Attractive Advertising Option for Brands

Step outside and let your imagination travel as we delve into the fascinating world of outdoor advertising. If you are searching for the latest trends and expert insights into the outdoor advertising market, then you’ve reached the correct destination. This blog promises to be the hub of inspiration and knowledge, where we have uncovered aspects of this industry and discovered the endless possibilities that await in the realm of outdoor advertising.

The global outdoor advertising market was valued at USD 21.96 billion in 2022 and is expected to achieve USD 40.49 billion at a CAGR of 6.3% during the forecast period.

What Is Outdoor Advertising?

Outdoor advertising also called out-of-home advertising (OOH), refers to methods of advertising that reach consumers when they are not at their homes. It is a common standard for public service announcements and is designed to grab peoples’ attention when out.  Outdoor advertising can be placed in public areas such as roadside billboards, bus stops, train stations, and other public spaces.

Some of The Commonly Known Types of Outdoor Advertising:

• Billboards
• Posters
• Bus-shelter ads
• Transit ads
• Neon sign boards
• Street Furniture

An Effective Way to Reach Target Audience

Outdoor Advertising Outdoor advertising offers major benefits that make it a powerful and effective medium for businesses to reach their target audience. However, the potential effect of outdoor advertising campaigns depends on various factors such as ad dimensions, location, and duration, as well as the visual appearance of ads like font, color, and design of the logo.

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Here Are Some Key Advantages of Outdoor Advertising

1. Build brand awareness
2. Boost visibility
3. Drive sales for businesses
4. creative possibilities
5. Complement to Other Media
6. Build local presence

Key Factors Influencing the Market Growth

• The increasing use of digital screens for advertisements is driving the outdoor advertising market size growth
• Rising popularity of out-of-home advertising in the advertising business as it increases consumer awareness of the brand is expected to accelerate the market growth.
• This type of advertising offers a convenient way to reach a large audience quickly and reliably, thereby propelling industry expansion.
• Growing programmatic technological developments such as automated purchasing and selling of digital screens and billboards are expected to boost market growth.
• A surge in the adoption of out-of-home advertising by companies worldwide in combination with other forms of media to expand their audience and improve the brand value to push the industry growth.

Competitive Insight

Some of the market key players include Adams Outdoor Advertising, AdSpace Networks Corporation, AirMedia Inc., APN Outdoor, SGA Cop, Burkhart Advertising, Clear Channel Outdoor, Daktronics Corporation, JCDecaux, Lamar Advertising, NEC Display Solutions, OUTFRONT Media, Prismview Limited, and Stroer Media.

Recent Developments

• In December 2022, a Bata India employed the anamorphic picture content creation method to produce a visually stunning 3D OOH billboard that gives the material a three-dimensional appearance. Bata has made use of this cutting-edge technology with the introduction of Sneaker Studios in more than 300 stores nationally to emphasise the variety of footwear it offers.
• In June 2021, a programming option from JCDecaux was made available. Via VIOOH, a world-wide digital out-of-home market. This strategy linked the internet's programmatic environment with the outdoor advertising sector.

To summarize

Outdoor advertising truly be a cost-effective and eternal solution for many small and medium-sized organizations to reach their target audience. With rising urbanization and elevated consumer awareness of a specific product's branding, outdoor advertising market demand in North America is expected to witness significant growth. Thus, its wide audience reach, continuous exposure, cost-effectiveness, and other benefits make it an attractive advertising option.

“A good outdoor advertising must deliver the right message, at the right time and place, to the right audience.”