Outdoor advertising, also named as out-of-home (OOH) advertising, is among the oldest methods of promotions that entail the advertisement of specific services and products within the public domain. These ads are mainly positioned around public spaces, like metros, parks, highways, malls, bus & train stations, and shopping complexes for grabbing people’s attention and thus, build a lifelong impression on the passers-by. The famous outdoor advertising tools consist of transit, street furniture, billboards, and alternative advertising.
The key factors contributing to the growth of the global outdoor advertising market include the substantial rise in infrastructural development around the world, particularly in budding nations. Further, with growing per capita income levels and swift urbanization, most of the population commonly visits shopping complexes and malls, leading to noteworthy expansion within the retail sector. This, in turn, has encouraged the overhaul of old public establishments and the building of new infrastructures. Thus, constant growth in retail infrastructures has subsequently surged the implementation of outdoor advertising boosting the market growth. Moreover, the rising use of digital billboards by several companies is also projected to drive the market expansion during the forecast period.
The global outdoor advertising market can be categorized based on type, platform, and region. The market, on the basis of type, can be diversified into shelters, billboards, street furniture, and transit displays. The market, on the basis of platform, can be divided into digital outdoor advertising and physical outdoor advertising. Regionally, the global outdoor advertising market is anticipated to be governed by North America during the forecast period. This regional expansion can be attributed to the growing digital promotion tools like jukebox and signage requirement by the restaurant owners, telecom sector, and corporates to promote their services and products. Likewise, Asia Pacific is deemed to witness substantial growth during coming period owing to the rise in expenditure by companies on online digital ads.
Some of the active players within the global outdoor advertising market consist of SGA SA, APG, Clear Channel Outdoor Holdings Inc., Burkhart Advertising Inc., DDI Media, Daktronics Inc., JCDecaux SA, Fairway Outdoor Advertising, OUTFRONT Media Inc., Lamar Advertising Co., and Ströer SE & Co. KGaA, among others. Players, because of high competitiveness, are constantly spending in R&D to fulfill the need from the ever-flourishing retail sector. In October 2020, Papa’s John’s has employed W Communications, its social media and PR agency, to provide an out-of-home advertising drive this autumn across London.