Arlington, VA - One of the oldest forms of advertising, outdoor advertising has now evolved to become one of the most widely used medium of advertising among the companies. Some of the factors which have contributed to the growth of the global outdoor advertising market are increasing urbanization, wider reach, immediate brand awareness, etc.
According to IMARC Group’s latest report entitled, “Global Outdoor Advertising Market Report & Forecast 2017-2022”, the global outdoor advertising market reached a value of around US$ 37.7 Billion in 2016, exhibiting a CAGR of around 5.4% during 2009-2016. Outdoor advertising is one of the oldest forms for advertising and has always provided innumerable prospects to the advertisers for marketing their products and services in the public domain. The advertisers can simply put their advertisements at various places such as billboards, hoardings, banners and posters; on buses, trains, metros, kiosks, shop windows, etc. and reach a wide audience-base. Additionally, the vibrant and eye-catching advertisements leave a lasting impression on the mind. This induces the potential consumers to have a favorable attitude towards the product or service being publicized.
It is also becoming a popular source of generating extra income for individuals, organizations, governments, etc. who lend their property and resources to various companies that use it for outdoor advertising. Some of the places which are now being used for outdoor advertising include coffee mugs, elevators, escalators, manhole covers, cars, door hangers, shopping bags, etc. These methods aid in creating a new client-base for outdoor advertising, helping the other party to be benefited simultaneously.
Outdoor advertising, or Out-of-home Media Advertising (OHH), has gained momentum in the recent years due to a number of factors. The increase in the number of public places such as malls, shopping complexes, high-rise buildings, subways, bus stops, etc., have significantly enhanced the space for placing outdoor advertisements. Moreover, the rise of public transportation systems has provided the advertisers another platform for outdoor advertising. With the subsequent growth in the number of commuters, it facilitates constant exposure to the ad-content for considerably long period. On the other hand, the advertisers can use their creativity in designing consumer directed advertisements. They can also place relevant advertisements in target areas to get the maximum response based on taste and preference, purchasing power and standard of living, advertisers. Considering these factors, outdoor advertising is expected to reach a value of US$ 51 Billion by 2022.
The report analyses different segments of the outdoor advertising market. The segments included in the report are billboard, transport and street furniture advertising. Further, an evaluation of the market on the basis of type is also presented, which is bifurcated into traditional and digital advertising. The report has also covered the key regions where the impact of outdoor advertising has been prominent, these include Asia-Pacific, Europe Middle East & Africa, Latin America and North America.Currently,the Asia Pacific Region represents the largest market for outdoor advertising.Some of the key global players included in the report are Storer Media, Clear Channel Outdoor, Lamar Advertising, JCDecaux, etc.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Follow us on twitter: @imarcglobal