Report Ocean published a new report on the global Digital Out of Home market. The study includes an in-depth analysis of regional trends and market growth in North America, Europe, Asia-Pacific, and Middle East Africa. This study report also examines the challenges that are negatively impacting the industry’s growth and outlines a strategy adopted by companies during 2023 to 2031.
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The global digital-out-of-home market revenue was around US$ 18.80 billion in 2021 and is estimated to reach US$ 50.4 billion by 2030, growing at a compound annual growth rate (CAGR) of 11.6% during the forecast period from 2022 to 2030.
Digital out-of-home marketing is an advanced type of advertising that makes use of digital media for promotional purposes outside the home. The conventional and traditional marketing and advertising methods have been mostly displaced by digital out-of-home, often known as digital signage. To get the most out of marketing messages shown on DOOH, this approach enables marketers and local businesses to interact with their customers/audiences in real time. It enables advertisers to connect with target markets in authentic settings. The digital out-of-house market size includes everything from digital billboards to screens in elevators and jukeboxes.
Factors Influencing Market Growth
– Increase in demand for digital signage solutions across the retail, automotive, telecom, and healthcare sectors. These factors drive the digital out-of-home market.
– Digital out-of-home market share is anticipated to expand significantly during the projection period due to the reduced cost of digital screens around the globe.
– The market is expanding quickly due to increased digitization and a decrease in demand for conventional billboards.
– Easy data integration is anticipated to drive the expansion of the digital out-of-home market.
– Urbanization trends in emerging nations will likely create attractive opportunities for the expansion of the digital out-of-home market.
– One of the key challenges limiting the outlook for the digital out-of-home market is the rise in the trend of online/broadcast advertising combined with sophisticated and expensive digital signage.
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Study of the COVID-19 Pandemic
The COVID-19 outbreak greatly impacted the development of the digital out-of-home market. Digital out-of-home market size during the pandemic has been greatly impacted by the fall in demand for digital signage solutions across key industries. Additionally, the lack of professional labor owing to the partial and total lockdown enacted by governments around the world during the pandemic hindered the expansion of the digital out-of-home market. Additionally, digital signage solutions have begun to be implemented globally in the healthcare industry, which is anticipated to fuel the expansion of the digital out-of-home market post-pandemic.
Regional Insights
North America holds a significant share of the global digital out-of-home industry due to the existence of major players in the region. The expansion of the digital out-of-home market in this region is anticipated to be fueled by the hospital sector’s adoption of a two-way voice system and a medical alert alarm system. Additionally, it is projected that the digital out-of-home market trends in this region would be driven by the increase in demand for personal health monitoring systems for elderly persons in North America.
Leading Competitors
The leading competitors in the global digital out of home market are:
– Clear Channel Outdoor Holdings Inc
– Broadsign International Inc
– Daktronics Inc
– JCDecaux SA
– Lamar Advertising Company
– NEC Corporation
– Ooh!media Ltd
– Outfront Media Inc
– Samsung Electronics Co. Ltd
– Mvix Inc
– Others
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Segmentation Analysis
The global digital out of home market segmentation focuses on End-User, Format Type, Application, and Region.
Segmentation based on End-User
– Automotive
– Personal Care and Households
– Entertainment
– Retail
– Food and Beverages
– Telecom
– BFSI
– Others
Segmentation based on Format Type
– Billboard
– Transit
– Street Furniture
– Others
Segmentation based on Application
– Indoor
– Outdoor
Segmentation based on Region
– North America
– The U.S.
– Canada
– Mexico
– Europe
– Western Europe
– The UK
– Germany
– France
– Italy
– Spain
– Rest of Western Europe
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– Eastern Europe
– Poland
– Russia
– Rest of Europe
– Asia Pacific
– China
– India
– Japan
– Australia & New Zealand
– ASEAN
– Rest of Asia Pacific
– Middle East & Africa (MEA)
– UAE
– Saudi Arabia
– South Africa
– Rest of MEA
– South America
– Brazil
– Argentina
– Rest of South America
Aim of the Report
- This study aims to determine the market size of various segments and countries with forecast values for next ten years.
- Within the regions and countries studied, the report covers both qualitative and quantitative aspects of the industry.
- It also provides detailed information about the crucial aspects such as drivers & challenges that will influence the market’s future growth.
- The report will also include investment opportunities in micro markets for stakeholders. In addition, an in-depth analysis of key players’ products and the competitive landscape.
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