Outdoor Advertising Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Outdoor Advertising Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global outdoor advertising market size reached US$ 36.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 53.9 Billion by 2028, exhibiting a growth rate (CAGR) of 6.5% during 2023-2028.

Outdoor advertising, also known as out-of-home (OOH) advertising, is used by enterprises to promote products or services and spread business-related information among the masses. It can be placed inside and outside trains and taxis, on billboards and posters, and at bus shelters, shopping centers, airports, kiosks, and sports stadiums. It provides a cost-efficient and long-lasting solution with wide coverage compared to other forms of advertising. As a result, organizations worldwide are relying on outdoor advertising with other media platforms to expand their audience reach and improve brand value and recall rate.

Outdoor Advertising Market Trends:

The rising internet penetration, rapid digitization, and the increasing focus on targeted marketing are among the key factors strengthening the growth of the market across the globe. This can also be accredited to expanding retail facilities, coupled with the growing number of people spending time outdoors. Moreover, the rising use of point of sale (POS) campaigns by brands or marketers to promote limited or special edition and discounted products and create impulse purchases is driving the market. Apart from this, with expanding businesses globally, vehicle or transit advertising is gaining immense traction as an on-the-go advertisement with printed graphics to capitalize on an area of high traffic and generate brand awareness. Furthermore, with increasing construction activities of homes and commercial buildings, hoardings and scaffold banners are widely utilized in outdoor advertising to keep the workers safe and promote the available spaces for rent. Besides this, the integration of advanced technologies, such as near field communication (NFC) and artificial intelligence (AI), which generate real-time viewership analytics, is anticipated to present key players with lucrative growth opportunities.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global outdoor advertising market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type and segment.

Breakup by Type:

Traditional Outdoor Advertising
Digital Outdoor Advertising

Breakup by Segment:

Billboard Advertising
Transport Advertising
Street Furniture Advertising
Others

Billboard advertising represents the largest segment as it requires minimal effort and offers a high rate of investment (ROI).

Breakup by Region:

Asia

China
Japan
India
South Korea
Others

Australasia

Australia
New Zealand
Others

Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others

Latin America

Brazil
Mexico
Others

Middle East and Africa

Saudi Arabia
UAE
Egypt
South Africa
Others

Asia holds the majority of the market share on account of the increasing number of commercial spaces in the region.

Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry.

Key Questions Answered in This Report:

What was the size of the global outdoor advertising market in 2022?
What is the expected growth rate of the global outdoor advertising market during 2023-2028?
What are the key factors driving the global outdoor advertising market?
What has been the impact of COVID-19 on the global outdoor advertising market?
What is the breakup of the global outdoor advertising market based on the type?
What is the breakup of the global outdoor advertising market based on the segment?
What are the key regions in the global outdoor advertising market?