Out Of Home Advertising Market Size, Share, Trends, Growth 2032

Out of Home Advertising Industry Prospective:

The global out of home advertising market size was evaluated at $29 billion in 2023 and is slated to hit $63 billion by the end of 2032 with a CAGR of nearly 10% between 2024 and 2032.

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Out of Home Advertising Market: Overview

Out of home advertising, which is also referred to as outdoor advertising, is a form of advertising that can be seen by the customers when they are out of their homes.

Furthermore, outdoor advertisement includes conventional billboards & posters as well as online displays and transit advertisements. There are various other kinds of out of home advertising such as airport advertising, place-based advertising, and retail advertising.

Key Insights

• As per the analysis shared by our research analyst, the global out of home advertising market is projected to expand annually at the annual growth rate of around 10% over the forecast timespan (2024-2032)
• In terms of revenue, the global out of home advertising market size was evaluated at nearly $29 billion in 2023 and is expected to reach $63 billion by 2032.
• The global out of home advertising market is anticipated to grow rapidly over the forecast timeline owing to growing need for high visibility, improving brand image, and flexibility.
• In terms of type, the digital out of home segment is slated to register the highest CAGR over the forecast period.
• Based on end-user, the retail segment is predicted to contribute majorly towards segmental space in the upcoming years.
• Region-wise, the North American out of home advertising industry is projected to register the fastest CAGR during the assessment timespan.

Out of Home Advertising Market: Growth Factors

Surging requirement for improving the visibility along with brand equity to drive the global market expansion by 2032

Growing need for high visibility, improving brand image, and flexibility is likely to prop up the expansion of the global out of home advertising market. Surging urbanization and digital transformation has paved a way for humungous expansion of the global market.

Furthermore, an increase in the spending on promotional activities such as advertisement on various kinds of media for brand promotion has created a profitable road map for the market across the globe. Technological breakthroughs and smart city initiatives will contribute majorly towards the global market trends.

In addition to this, a surge in the online advertising campaigns and use of GPS tools are expected to expand the scope of the market globally.

Out of Home Advertising Market: Restraints

A prominent surge in the advert costs and date violations can restrict the global industry expansion by 2032

An increase in the digital advertising costs and economic upheavals can obstruct the global out of home advertising industry surge. Apart from this, stricter zoning legislations and laws pertaining to urban planning can restrict the global industry expansion.

Furthermore, growing awareness about data privacy among the consumers is likely to create hitches in the growth rate of the industry across the globe.

Out of Home Advertising Market: Opportunities

Rapid growth witnessed in infrastructure has opened new vistas of growth for the global market

Surging purchase of programmatic digital out of home advertising and integration of new technologies including virtual reality, augmented reality, and artificial intelligence tools will open new growth avenues for the global out of home advertising market. Furthermore, an increase in infrastructural growth and urbanization will promulgate the growth space of the market globally.

Out of Home Advertising Market: Challenges

Budgetary constraints can pose a huge threat to the expansion of the global industry surge by 2032

Tough competition from other digital advertising firms and availability of low budgets can challenge the global out of home advertising industry progress.

Changing customer preferences and need for effective targeting of customers can deter the global industry surge in the years ahead.

Out of Home Advertising Market: Segmentation

The global out of home advertising market is divided into type, platform, end-user, and region.                                             

In terms of type, the out of home advertising market across the globe is segmented into billboards, alternative media, transit advertising, street furniture, digital out of home, and place-based advertising segments.

Apparently, the digital out of home segment, which garnered nearly 66% of the global market revenue in 2023, is slated to record fastest CAGR in the coming eight years due to targeting of particular demographics & locations, real-time dynamic content, and programmatic buying and selling.    

Based on the end-user, the global out of home advertising industry is divided into retail, technology, food & beverages, automotive, and healthcare & pharmaceuticals segments.

Apparently, the retail segment, which dominated the global industry share in 2023, is projected to contribute majorly towards the segmental expansion in the analysis timespan and this can be as a result of growing demand for brand awareness of retail products along with need for promoting products in the retail stores. Moreover, out of advertising can target customers in high-traffic regions and encourage them in visiting retail stores.   

On the basis of platform, the global out of home advertising market is bifurcated into digital out of home advertising tool and static out of home advertising tool segments.

Out of Home Advertising Market: Report Scope

Out of Home Advertising Market: Regional Insights

Asia-Pacific is likely to maintain leading status in the global market over the assessment timeline

Asia-Pacific, which contributed for about 36% of the global out of home advertising market size in 2023, is slated to establish a leading position in the global market in the analysis timeframe.

Moreover, the regional market expansion in the coming few years can be owing to swift urbanization and growing middle income group populations in the countries such as Japan, China, and India.

Additionally, rapidly expanding digital infrastructure along with huge fund allocation in improving this infrastructure will propel the regional market surge in the years ahead.

Changing end-user trends from conventional advertising tools to digital ones will expand the scope of growth of the regional market.

North American out of home advertising industry is expected to register the highest CAGR in the prognosis timespan. The elevation of the industry in North America can be subject to breakthroughs in technologies and rise in the customer engagement with the brands.

Apart from this, presence of key players in the region will boost the industry expansion in North America.

Out of Home Advertising Market: Competitive Space

The global out of home advertising market profiles key players such as:

• Stroer SE & Co. KGaA
• Lamar Advertising Company
• Clear Channel Outdoor Holdings Inc.
• Broadsign International LLC
• JCDecaux Group
• APG|SGA
• OUTFRONT Media Inc.
• Global Outdoor Media Limited
• oOh!media Limited
• Focus Media
• Daktronics Inc.      

The global out of home advertising market is segmented as follows:

By Type

• Billboards
• Alternative Media
• Transit Advertising
•  Street Furniture
• Digital Out of Home
• Place-Based Advertising

By Platform

• Digital Out of Home Advertising Tool
• Static Out of Home Advertising Tool

By End-User

• Retail
• Technology
•  Food & Beverages
• Automotive
• Healthcare & Pharmaceuticals

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa