The global Outdoor Advertising Market size is expected to reach USD 40.49 billion by 2032, according to a new study by Polaris Market Research. The report “Outdoor Advertising Market Share, Size, Trends, Industry Analysis Report, By Type (Traditional Outdoor Advertising, and Digital Outdoor Advertising); By Product; By End Use; By Region; Segment Forecast, 2023-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The need for outdoor advertising among businesses will rise in response to marketers' and advertisers' growing demand for sophisticated digital marketing solutions to ensure efficient digital product advertising. Enterprises are now prioritizing social media advertising based on user demographics to increase the conversion rate of potential customers. This is projected to provide considerable revenue prospects to social media platforms through digital out-of-home (OOH) advertising.
The industry is expanding because of the growing use of LCD screens for several advertisements on a single display in buses, taxis, and trains. The consumer's increasing preference for trains and buses for their daily commute is another factor anticipated to fuel the market's expansion. Additionally, the market growth is projected to be aided by the growing use of digital transit and transportation advertising for brand recognition.
More than 50% of Chinese advertisers ranked commercial buildings and transportation hubs as the best locations for placing advertisements. The market's potential growth is also being driven by rising food and beverage and financial services companies in China, which are spending a lot on outdoor advertising. The rising adoption of cutting-edge technologies like precision outdoor advertising for brand promotion also drives the market for outdoor advertising in China.
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Additionally, among many other forms of transportation, airports are desirable locations for advertising, particularly for luxury and high-end goods. Airports are under increasing pressure to develop cutting-edge methods for boosting market revenue. Airports may offer several sponsors instead of just one by transforming static displays like posters into digital presentations. As a result, the market's revenue rises considerably. For instance, in April 2022, Adani Airports offered programmatic, which allowed Lemma to enable digital outdoor advertising. This business, a pioneer in integrated infrastructure and transportation, offers programmatic digital OOH media advertising through its fleet of Indian airports.
Outdoor Advertising Market Report Highlights
Polaris Market Research has segmented the Outdoor Advertising Market report based on type, product, end-use industry, and region:
Outdoor Advertising Market, Type Outlook (Revenue - USD Billion, 2019 - 2032)
Outdoor Advertising Market, product Outlook (Revenue - USD Billion, 2019 - 2032)
Outdoor Advertising Market, End-use Industry Outlook (Revenue - USD Billion, 2019 - 2032)
Outdoor Advertising Market, Regional Outlook (Revenue - USD Billion, 2019 - 2032)