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

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

The Finland OOH And DOOH Market size is estimated at USD 102.24 million in 2024, and is expected to reach USD 245.71 million by 2029, growing at a CAGR of 19.17% during the forecast period (2024-2029).

Key Highlights

• Helsinki (the capital of Finland) has evolved from showcasing smart city innovation to becoming a fully-fledged smart city. The city established its position as a global leader in innovation and environmental, social, and governance practices with a host of startup incubators, sustainable projects, and pioneering initiatives. Thus, the incorporation of DOOH screens in smart city initiatives and public infrastructure offers advertisers a platform to exhibit their products and services and provides ample opportunities for advertisers to expand in the space.
• In 2023, VTT, a research and technology firm in Finland, planned to establish Europe's premier clean energy piloting center in Espoo (Finland). This initiative aimed to create an innovative hub for research and testing, enabling companies to swiftly and affordably transition solutions from concept to production. The company invested USD 19.6 million (EUR 18 million) and plans to finalize construction by 2024. These initiatives can incorporate OOH advertising to attract commuters' attention during travel.
• Digital out-of-home (DOOH) advertising leverages digital media to promote brands outside the home. DOOH offers advertisers and local vendors a dynamic platform to engage audiences, ensuring maximum impact for their marketing messages. By targeting audiences in real-world settings, DOOH enhances the relevance of advertising.
• Digital screens are generally located at the key centers of Finland's major cities and pivotal traffic hubs. Service providers in the market cater to digital outdoor advertising, enabling clients to reach out to their target audience. JCDecaux offers data-driven outdoor advertising, which leverages hub profile data and curates tailored sets of outdoor advertising screens, facilitating campaign efficacy for clients. This facilitates analyzing the campaign returns and making effective strategies to generate better returns.
• The setup and maintenance of digital signage infrastructure are expensive. The cost of advanced digital displays, software, and ongoing maintenance is also costly for small and medium enterprises operating in the country, which is restricting the market's growth.
• The pandemic accelerated digital transformation and innovation initiatives. Advertisers are now focussing on adapting consumer behaviors by using advanced technologies and focusing on local engagement to drive OOH campaigns. Enhanced performance models help in understanding the effectiveness of campaigns more accurately, driving better investment decisions.

Finland OOH And DOOH Market Trends

Retail​ and Consumer Goods​ Holds the Largest Share

• Retail and Consumer Goods hold the largest share in the OOH and DOOH market since DOOH screens in supermarkets and malls influence purchase decisions. These screens display promotions, new product launches, and special offers to shoppers at the point of sale. Thus, retail and consumer goods companies focus on high-traffic locations such as shopping centers, public transportation hubs, urban centers, and major highways to promote their products.
• Moreover, advertising on public transport vehicles (buses, trams, metro) and within transit stations is a popular strategy. It ensures repeated commuter exposure, making it ideal for retail and consumer goods brands. For instance, Clear Channel Outdoor has an extensive network of advanced digital screens at SOK retail locations in Finland. This network, tailored for the FMCG sector, strategically targets consumers at the point of purchase. With 1,000 billboards and digital displays scattered across Finland, Clear Channel Outdoor offers advertisers a prominent platform to craft compelling campaigns, bolster brand recognition, and ultimately boost sales.
• The Helsinki metropolitan area is Finland's fastest-growing region. In response to this growth, municipalities in the Helsinki region have made significant investments in key public transport systems. These include the airport Ring Rail Line, extensions to the metro line, and the introduction of Light Rail 15. Additionally, plans are underway to develop new tram lines. These large-scale projects facilitate retail advertisements and allow brands to earn better returns on investments.
• Market Players offer digital DOOH services, enhancing brands' visibility on both national and local scales. These services involve digital advertising displays that leverage dynamic images and data, effectively capturing the attention of broad audiences. Moreover, Shopify is investing in growing its offline presence, which can be used by brands for OOH advertisements. For instance, as per data by Store leads, Shopify stores are in a remarkable growth trajectory, with the number of Shopify stores in Finland surging by 8.1% in the second quarter of 2024 alone, with 5,400 stores in Finland.
• Interactive and experiential DOOH ads can significantly enhance consumer engagement. Brands can create captivating, immersive experiences for audiences and can encourage social media sharing. Additionally, DOOH campaigns facilitate real-time performance metrics, which provide an opportunity to optimize ad spending and improve ROI. Retailers can quickly respond to market conditions and consumer feedback.

Digital OOH (LED Screens)​ to Witness Significant Growth

• There is a growing shift toward digital screens in Finland, replacing traditional static billboards. This transition offers opportunities for more dynamic and engaging content delivery. Digital screens give real-time updates and interactive features, enhancing consumer engagement and the effectiveness of advertising campaigns.
• Digital billboards are interactive smart systems that showcase companies' visuals in pictures, videos, and graphics. Digital out-of-home helps in merging tailored content with focused ads, using digital interfaces in retail stores, airports, and bus shelters. Additionally, advertising in a trusted media environment is a cornerstone of successful marketing in Finland. Finnish advertisers prioritize brand safety, emphasizing the need to promote in media channels and alongside content that resonates with Finnish consumers' trust.
• Programmatic DOOH is gaining traction in Finland. It enables automated buying and real-time bidding for ad space. This approach enhances efficiency, allowing advertisers to optimize campaigns based on performance data and market conditions. It allows advertisers to use advanced targeting and data capabilities, which helps in effective and flexible campaigns.
• DOOH networks are increasingly integrated into smart city infrastructure, supporting public services and enhancing urban experiences. Market players are investing in collaborations between city authorities, advertisers, and technology providers that are shaping the future of digital signage in urban environments.
• In Finland, several tourism organizations incorporate out-of-home advertising into their marketing strategies. 'Visit Finland,' which is part of the Finnish business, actively promotes the country's tourism through various OOH channels. They engage with joint promotional campaigns with airlines, tour operators, and other partners. As per the data by Eurostat, number of monthly arrivals in tourist accommodation was 1.8 million visits in July 2023, which saw growth from June 2023.

Finland OOH And DOOH Industry Overview

The Finland OOH And DOOH market is fragmented, with major players like JCDecaux Finland, Clear Channel Outdoor Finland, Ocean Outdoor Finland, MediaTeko, and Others. These players are adopting strategies such as partnerships, innovations, and acquisitions to enhance their product offerings and gain sustainable competitive advantage.

• October 2023: Place Exchange, a supply-side platform (SSP) specializing in programmatic Out of Home (OOH) media, unveiled a strategic collaboration with Clear Channel. This partnership planned for direct programmatic purchases of Clear Channel's vast digital OOH (DOOH) inventory across several European countries, including the United Kingdom, Belgium, France, Finland, Norway, the Netherlands, Spain, Sweden, and Poland. This initiative is made possible through seamless integration with Clear Channel LaunchPAD.
• February 2023: JCDecaux SE, a global outdoor advertising company, announced Elina Valtia as the CEO of JCDecaux Finland, effective April 1, 2023. Valtia, who has over two decades of media industry experience, brought her expertise to advancing the outdoor advertising space in Finland.

Additional Benefits:

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