Mar 18, 2020 (AmericaNewsHour) -- The Global Digital Out of Home Market (DOOH) was valued at USD 13.35 billion in 2016 and is projected to reach USD 34.21 billion by 2025, growing at a CAGR of 11.02% from 2017 to 2025.
Digital Out of Home or DOOH refers to digital media used for marketing purposes outside of the home. This includes any out-of-home (OOH) display, digital billboard or digital signage that can change its advertising content remotely using addressable electronic, LED, and screen technology but excludes TV advertising and radio advertising. Advantages of DOOH includes -it is likely to be well received by the consumers, it is flexible, enables business to reach their customers on the go, it is cost effective, allows the development of real-time campaigns.
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1. Market Drivers
1.1 Increasing demand for IoT and emergence of cloud platform
1.2 High usage of virtual and augmented reality in DOOH advertising
1.3 Rise in the adoption of audio-visual transit advertising
1.4 Innovations in display technologies
1.5 High investments on programmatic advertising
1.6 Increasing demand for improved DOH advertising space
2. Market Restraints
2.1 Rising trend of online advertisement
2.2 Poor standards for interoperability between devices
2.3 Development of equipments suitable for all weather conditions
The G lobal Digital Out of Home Market (DOOH) is segmented on the application, product, vertical, and region.
2. By Product:
2.1 Street Furniture
3. By Vertical:
3.2.2 Corporate and Government
3.3.2 Banking, Financial Services and Insurance (BFSI)
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
Competitive Landscape:The major players in the market are as follows:
1. Lamar Advertising Company
2. Prismview LLC
4. BroadSign International LLC
5. Mvix, Inc.
6. Outfront Media Inc.
7. Clear Channel Outdoor Holdings, Inc.
9. oOh!Media Ltd.
10. NEC Display Solutions Ltd
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:Research study on the Global Digital Out of Home Market (DOOH) was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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