Billboard and Outdoor Advertising Market: Current Analysis and Forecast (2022-2028)

Billboard and Outdoor Advertising Market: Current Analysis and Forecast (2022-2028)

The billboard and outdoor advertising market is expected to register a CAGR of approx. 8% over the period of 2022-2028. The billboard and outdoor advertising market include the sale of billboards and outdoor advertising services and related goods by entities (organizations, sole proprietors, and partners) that create and design public display advertising campaign materials, such as printed, painted, or electronic screens and/or place such displays on indoor or outdoor billboards and billboards, or on or inside vehicles or public transport facilities, malls, retail (in-store) displays, and other structures or displays. Only goods and services exchanged between entities or sold to final consumers are included. The billboard and outdoor advertising market is growing at an influential rate and is anticipated to grow at a significant CAGR during the forecast period. Factors such as an increase in digital out-of-home advertising, increasing retail company and internet penetration, growing innovation in advertising, and rising spending on advertising are positively influencing the billboard and outdoor advertising market. For instance, according to some researchers, there are currently 342,306 billboards in the US and almost 8,000 of these are digital billboards. Furthermore, Infrastructural development, particularly in emerging economies, will increase the space which can be used for outdoor advertising. Thereby, boosting the market growth.

BroadSign International LLC, Daktronics Inc., TOM Group Limited, APG SGA, Mozmene, Talon Outdoor Ltd, Zo Digital, oOh!media Limited, The Times Group, Eye Media LLC are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
"Amongst Type, the painted billboard category accounted for the majority share in the market in 2020”

Based on type, the market is classified into painted billboards, digital billboards, multipurpose billboards, and others. Amongst types, the painted billboard category accounted for a significant share of the market. Billboards allow businesses to reach many customers with just one advertising trick. Billboards allow businesses to reach many customers with just one advertising trick. The growth of the segment can be attributed to the growing popularity of these billboards as they are more attractive. Moreover, painted billboards build brand awareness among people and target a variety of customers.
"Among Applications, the highways are expected to witness highest CAGR during the forecast period”

Based on application, the market is categorized into highways, buildings, automobiles, and others. Among these, highways are expected to witness the highest CAGR during the forecast period. Billboards are usually placed in very high traffic areas which include cities, along busy highways, on buses, near airports, near stadiums, or on the walls of buildings. The purpose of a billboard is to be seen by many cyclists, drivers, or pedestrians. Research shows that 75% of people who drive, ride, or walk in front of these billboards consciously look at them.
"Among End-Users, the retail is expected to witness highest CAGR during the forecast period”

Based on end-users, the market is categorized into retail, banks and financial institutions, commercial buildings, media entertainment, government, and transportation. Among these, retail is expected to witness the highest CAGR during the forecast period. This is because of the growing trend for more interactive billboards that will attract and engage new customers. These new interactive billboards will appeal to a niche market with a personal and engaging message based on well-researched information on consumer habits, preferences, and preferences that significantly contribute to the growth of the market.
"APAC to witness significant growth during the forecast period”

For a better understanding of the market dynamics of the billboard and outdoor advertising market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. APAC constitutes a major market for the billboard and outdoor advertising market industry in 2020 owing to the rapidly growing infrastructure in the region.

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
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• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.