Argentina OOH And DOOH - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

Argentina OOH And DOOH - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The Argentina OOH And DOOH Market size is estimated at USD 63.46 million in 2024, and is expected to reach USD 147.42 million by 2029, growing at a CAGR of 18.36% during the forecast period (2024-2029).

The Out-of-Home (OOH) and Digital Out-of-Home (DOOH) advertising market in Argentina is experiencing significant growth driven by market trends, consumer preference, urbanization, and increased advertising expenditure.

Key Highlights

• Digital technology empowers advertisers in Argentina's Out-of-Home Advertising sector, facilitating swift messaging updates and enhancing campaign flexibility. A notable trend in the market is the rising adoption of digital tech, with digital billboards and screens gaining prominence. This shift is fueled by the industry's quest to captivate consumers in an increasingly competitive advertising arena.
• A key trend is the pivot toward targeted and personalized Out-of-Home Advertising. Advertisers are harnessing data and analytics to enhance messages for their audiences, ensuring they hit the mark in terms of timing and location. By tailoring content, advertisers not only boost engagement but also drive up conversion rates.
• The urbanization surge in cities like Buenos Aires is paving the way for more OOH and DOOH installations, owing to the rising number of commercial and residential developments. Concurrently, infrastructure projects and heightened urban mobility are amplifying the visibility and impact of outdoor advertising. The dense population and robust public transit in these urban centers provide advertisers with a captive audience.
• Given the significant public mobility for work, shopping, and leisure in these cities, OOH and DOOH advertising naturally garners a broad and diverse audience. This form of advertising, with its expansive reach, effectively captures attention as people go about their daily routines.
• The integration of AI, IoT, and real-time data analytics in DOOH advertising is revolutionizing targeting and engagement, making it an increasingly attractive avenue for advertisers. As digital billboards and interactive displays become the norm, the content they deliver is not just dynamic but also contextually relevant.

Argentina OOH and DOOH Market Trends

Digital OOH (LED Screens) to Drive the Market

• Both local and international advertisers are increasingly investing in digital OOH advertising, recognizing the power of high-impact LED screens for brand promotion. This surge in interest is fueling installations of these screens in key urban locations.
• Strategically placed in high-traffic zones, LED screens boast vivid displays that effectively grab public attention, leading to heightened brand recognition and recall. Their prevalence in areas like shopping malls, transportation hubs, and city centers ensures maximum exposure and impact.
• Programmatic advertising, a data-driven approach to ad space buying and selling, is gaining momentum in the DOOH sector. This method enables advertisers to target specific demographics and tweak campaigns in real time, based on performance metrics, thereby boosting campaign efficiency and effectiveness.
• By embracing advanced audience measurement tools, DOOH campaigns are becoming more transparent and accountable. Technologies such as facial recognition and mobile data tracking offer valuable insights into audience demographics, engagement levels, and dwell times, empowering advertisers to fine-tune their campaigns for optimal impact and reach.
• As per Magna, a leading auto parts manufacturer, advertising spending in Argentina is set to surpass ARS 1.8 trillion (USD 2.01 billion) in 2024, up from ARS 1.09 trillion (USD 1.2 billion) the previous year. Fueled by the country's inflation, Argentina is poised to lead as the fastest-growing ad market in Latin America for 2024, closely followed by Uruguay and Mexico.

Retail​ and Consumer Goods to Drive the Market

• Retail and consumer goods companies are significantly boosting their advertising budgets to amplify brand visibility. This uptick in spending is fueling the demand for OOH (Out-of-Home) and DOOH (Digital Out-of-Home) advertising, known for their high visibility and effective customer engagement.
• For instance, data from Admetricks reveals that in June 2024, supermarkets and minimarkets dominated digital advertising in Argentina, accounting for about 10.7%. Finance and banks secured the second spot, with a share of nearly 4%, closely followed by online stores at 3.6%.
• The adoption of cutting-edge technologies like QR codes, NFC, and interactive displays in DOOH advertising is gaining momentum. These innovations create seamless and captivating customer experiences, enabling direct interactions with ads and providing access to additional information or promotions via smartphones.
• Retailers are strategically situating OOH and DOOH ads in high-traffic areas, like near retail outlets, shopping hubs, and bustling commercial zones. This strategic placement ensures heightened visibility and engagement, ultimately driving foot traffic and sales. Notably, leading retail chains leverage LED screens and digital billboards for new product launches and seasonal sales, further boosting foot traffic and revenue.
• Retailers are increasingly leveraging OOH and DOOH ads for promotions and seasonal sales. These initiatives heighten consumer awareness, creating a sense of urgency that translates into increased footfall and sales. Particularly during peak shopping events like Black Friday and the holiday season, retailers ramp up OOH and DOOH campaigns to entice shoppers and bolster sales.

Argentina OOH And DOOH Industry Overview

The Argentine Out-of-Home (OOH) and Digital Out-of-Home (DOOH) market is semi-concentrated, with major players and numerous regional companies. Key players in the market are adopting strategies such as partnerships, agreements, innovations, and acquisitions to enhance their service offerings and gain a sustainable competitive advantage.

• January 2024 - Cetol, a prominent brand within AkzoNobel, initiated a digital outdoor advertising initiative in Argentina. By harnessing Taggify's advanced features and partnering with the Kinesso agency for strategic guidance, Cetol sought to enhance the exposure and allure of its high-end wood protector. This case study delves into the campaign's strategic blueprint, its implementation, and the notable results, highlighting the effectiveness of cutting-edge digital advertising.
• September 2023 - Mercado Libre, a prominent e-commerce platform, leveraged Taggify’s DSP platform for a digital outdoor advertising (DOOH) initiative at Buenos Aires' iconic Obelisco. The campaign was broadcast on fifteen strategically positioned screens across the Autonomous City of Buenos Aires (CABA). These screens, ranging from subway access points and totems to expansive LED displays, were meticulously chosen to maximize visibility in this vibrant locale.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support