Digital Out of Home Market Outlook – 2031
The global digital out of home market was valued at $18.80 billion in 2020 and is projected to reach $58.67 billion by 2031, growing at a CAGR of 11.6% from 2022 to 2031.
Digital out of home is a novel form of advertising that uses digital media for endorsing purposes outside the home. digital out of home, also known as digital signage, has effectively replaced the traditional and orthodox forms of marketing and advertising. This process enables advertisers and local vendors to engage their customers/audiences in real time to extract maximum effectiveness from marketing messages displayed using DOOH. It allows advertisers to reach target audiences in real-life contexts. The digital out of home Market Size summarizes everything from digital billboards to screens in elevators and jukeboxes.
In addition, digital out of home media offers users a unique chance to mix conventional advertising methods with a modern twist, allowing them to reach potential consumers. Moreover, the rise in demand for digital signage solutions across automotive, retail, telecom, and healthcare sectors is anticipated to offer significant growth opportunities for the digital out of home market growth.
The digital out of home market Share is expected to witness notable growth during the forecast period, owing to the reduced cost of digital screens across the globe. Furthermore, rapid digitization & decline in demand for traditional billboards drives the growth of the market. Moreover, ease in data integration is expected to propel the digital out of home market growth during the forecast period.
However, the surge in the trend of online/broadcast advertisement paired with complex and expensive digital signage are some of the prime factors that restrain the digital out of home market outlook. On the contrary, the rise in urbanization across emerging economies globally is expected to provide lucrative opportunities for the growth of the digital out of home industry during the forecast period.
Key Takeaways
- The global market study covers 20 countries. The research includes a segment analysis of each country in terms of value for the projected period.
- More than 1,500 product literature, industry releases, annual reports, and other such documents of major market industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.
- The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions to achieve their most ambitious digital out of home market growth objectives.
Segment Overview
The digital out of home market is segmented into End-User, Format Type, and Application.
Based on the format type, the digital out of home market opportunity is divided into billboard, transit, street furniture, and others. The billboard segment dominated the market, in terms of revenue, in 2020, and is expected to follow the same trend during the forecast period.
Based on application, it is bifurcated into indoor and outdoor. The outdoor segment was the highest revenue contributor in 2020 and is anticipated to garner a significant market share during the forecast period.
Based on end-user, the digital out of home market forecast is segmented into automotive, personal care & households, entertainment, retail, food & beverages, telecom, BFSI, and others. The other segment acquired the largest share in 2020, and the BFSI segment is expected to grow at a high CAGR from 2021 to 2030.
Regional/Country Market Outlook
North America: North America is at the forefront of the digital out-of-home (DOOH) market, characterized by extensive investment in digital signage and programmatic advertising. High urbanization rates and advanced infrastructure support dynamic advertising solutions, making it a critical region for DOOH growth and innovation.
Asia-Pacific: The Asia-Pacific region is rapidly adopting DOOH solutions, with countries like China and India leading the charge due to rising urban populations and advertising expenditures. The integration of technology and data analytics is enhancing audience targeting, and driving demand for innovative advertising formats and strategies.
Europe: Europe's DOOH market is evolving with a focus on sustainability and regulatory compliance. The region’s diverse cultural landscape encourages creative advertising solutions, while advancements in technology enable real-time content updates and audience engagement. Collaborative initiatives among brands and media owners support market growth.
LAMEA: The LAMEA digital out-of-home market is gradually developing, with increasing investment in advertising technology and infrastructure. Urbanization and growing consumer mobility are driving demand for innovative advertising solutions. However, challenges related to regulation and digital infrastructure may impact market growth.
Key Market Dynamics
The digital out-of-home (DOOH) market is expanding rapidly as advertisers shift from traditional media to more dynamic, targeted advertising solutions. Advancements in digital signage technology and programmatic advertising are enhancing the effectiveness of outdoor campaigns, allowing for real-time content updates and audience engagement. The increasing urbanization and consumer mobility contribute to greater visibility and reach for digital ads. Furthermore, the integration of data analytics enables advertisers to optimize campaigns based on audience demographics and behaviors. As brands recognize the impact of DOOH in multi-channel marketing strategies, the market is expected to continue its robust growth trajectory.
Competitive analysis and profiles of the major digital out of home market players that have been provided in the report include, such as Broadsign International, Inc., Clear Channel Outdoor Holdings, Inc., Daktronics, Inc., JCDecaux SA, Lamar Advertising Company, NEC Corporation, Ooh! media Ltd, Outfront Media Inc., Samsung Electronics Co. Ltd., and MvixInc.
Report Coverage & Deliverables
This report delivers in-depth insights into the digital out-of-home market overview into end-user, format type, application, region, and major players' key strategies. It offers detailed market forecasts and emerging trends.
Format Type Segment
In the digital out-of-home market, the opportunity is divided into several format types, including billboards, transit, street furniture, and others. The billboard segment dominated the market in terms of revenue in 2020 and is expected to maintain this trend throughout the forecast period. Billboards offer high visibility and engagement, making them a preferred choice for advertisers seeking to capture audience attention in urban environments.
Application Segment
On the basis of application, the digital out-of-home market is bifurcated into indoor and outdoor segments. The outdoor segment emerged as the highest revenue contributor in 2020 and is anticipated to garner a significant market share during the forecast period. Outdoor DOOH advertising benefits from its ability to reach a broader audience in high-traffic areas, further driving its popularity among advertisers.
End-User Segment
By end user, the digital out-of-home market forecast is segmented into automotive, personal care & households, entertainment, retail, food & beverages, telecom, BFSI (banking, financial services, and insurance), and others. In 2020, the others segment acquired the largest share, reflecting the diverse applications of DOOH across various industries. The BFSI segment is expected to grow at a high compound annual growth rate (CAGR) as financial institutions increasingly leverage DOOH for targeted advertising and customer engagement.
Regional Analysis
Regionally, the digital out-of-home market trends are analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America, particularly the U.S., remains a significant participant in the global DOOH industry, with major organizations and government institutions investing heavily in technology to enhance advertising capabilities and audience reach.
Key Strategies and Developments
- On February 6, 2024- Intersection, a leading out-of-home media and technology company, announced a groundbreaking partnership with TikTok and LinkNYC, New York City’s largest digital network. This collaboration brings TikTok’s “Out of Phone” campaign to the streets of NYC, transforming the urban landscape into an interactive platform for creative expression. Utilizing the extensive LinkNYC network, this partnership allows TikTok creators to showcase their content on digital displays across the city, enhancing engagement and visibility. This initiative represents a significant shift in digital advertising strategies, blending digital interactivity with real-world experiences.
- On June 28, 2024- The global digital out-of-home market is expected to grow significantly, reaching USD 42.54 billion by 2031, driven by technological advancements, urbanization, and enhanced measurement analytics. Innovations in AI and IoT are enabling more dynamic and targeted advertising campaigns, while the development of smart cities is expanding advertising venues.
- On January 4, 2024 - Hivestack, a leading programmatic digital out-of-home (DOOH) advertising company, released its top predictions for the DOOH industry in 2024. Key trends include seamless omnichannel integration, where DOOH is incorporated into broader marketing strategies to create cohesive and immersive storytelling experiences. The report also highlights the increasing role of AI in creative production and dynamic creative optimization, enhancing the effectiveness and engagement of DOOH campaigns.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the digital out of home market segments, current trends, estimations, and dynamics of the digital out of home market analysis from 2020 to 2031 to identify the prevailing digital out of home market opportunities.
- Digital out of home Industry research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- An in-depth analysis of the digital out of home market segmentation assists in determining the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global digital out of home market trends, key players, market segments, application areas, and market growth strategies.
Digital Out of Home Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 58.7 billion |
 Growth Rate | CAGR of 11.6% |
 Forecast period | 2020 - 2031 |
 Report Pages | 270 |
 By End-User |
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 By Format Type |
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 By Application |
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 By Region |
|
 Key Market Players | Clear Channel Outdoor, LLC, JCDecaux SA, Ooh!mediaLtd, NEC Corporation, Daktronics, Inc, Outfront Media Inc, Lamar Advertising Company, MvixInc, Broadsign International, Inc, Samsung Electronics Co. Ltd |
Analyst Review
Digital home technology is a set of enhanced technology intended to offer enhanced digital media and advertisement solution for marketing out of home. Further, digital out of home employs use of kiosks, stand-alone screens, and interactive media solution to enable the advertisers to reach out audiences on a large scale. In addition, rise in demand for the Internet of Things, smart infrastructure, and artificial intelligence solutions across the automotive, telecom, and healthcare sector is anticipated to drive the growth of the digital out of home market in the coming years.
The global digital out of home market is highly competitive, owing to the strong presence of existing vendors. Digital out of home vendors, who have access to extensive technical and financial resources, are anticipated to gain a competitive edge over their rivals, as they have the capacity to cater to the market requirements. The competitive environment in this market is expected to further intensify with an increase in technological innovations, product extensions, and different strategies adopted by key vendors.
Surge in demand for emergency response solution for senior citizens globally drives the need to enhance digital out of home solutions such as in-home system and mobile systems. Moreover, prime economics, such as the U.S., China, UK, and Japan, plan to develop and deploy next-generation digital out of home solutions across various sectors. For instance, in January 2022, BC Transit signed a contract with Consat to install real-time location technology on buses throughout the province as part of the agency’s NextRide initiative, which is anticipated to provide lucrative opportunities for the market growth.
Among regions, North America exhibits the highest adoption rate of digital out of home and has experienced a massive expansion of the market. On the other hand, Asia-Pacific is expected to grow at a faster pace, predicting lucrative growth due to emerging countries, such as China, Japan, and Australia, investing substantially in these technologies. Other regions, such as the Middle East and Latin America, are also expected to offer new opportunities in the digital out of home market owing to increase in awareness among end users about the benefits of DOOH advertisement.
Globally, various key players and government agencies have invested in digital out of home market to make them compatible with various industrial platforms. For instance, in October 2021, Ooh!media, a leading digital out of home solution provider announced its partnership with WA property group Hawaiian. This initiative is taken into action to develop and install out of home media assets into its shopping centers, which is showcasing lucrative growth opportunities for the market growth.
The key players profiled in the report include Broadsign International, Inc., Clear Channel Outdoor Holdings, Inc., Daktronics, Inc., JCDecaux SA, Lamar Advertising Company, NEC Corporation, Ooh!media Ltd, Outfront Media Inc., Samsung Electronics Co. Ltd., and Mvix Inc.
Billboard is the leading application of Digital Out of Home Market in the year 2020.
Significant factors that impact the growth of the global digital out-of-home industry include a rise in digitization and a decline in demand for traditional billboards paired with easy data integration. Moreover, the reduced cost of digital screens is expected to drive the market opportunity.
North America is one of the most dominant markets for the global digital out-of-home market technology market, owing to a surge in investment by prime players in digital advertisement. Consequently, it forms the largest segment.
NEC Corporation, Ooh!mediaLtd, and Broadsign International, Inc. is the top companies to hold the market share in Digital Out of Home.
The global digital-out-of-home market was valued at $18.80 billion in 2020 and is projected to reach $58.67 billion by 2031, registering a CAGR of 11.6% from 2022 to 2031.
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