Portland, OR -- (SBWIRE) -- 06/20/2018 -- The features of DOOH advertisement, such as cost effectiveness, creative approach, real-time user engagement, and procurement of large prospective customers drive its demand in the global market. The different customized solutions by the vendors increase their usability across various end users such as commercial infrastructure, airports, bus stops & subways, and others.
Global Digital-Out-Of-Home Market was valued at $ 3,639.30 million in 2016, and is projected to reach at $ 8,393.30 million by 2023, growing at a CAGR of 12.60% from 2017 to 2023, according to the latest report published by Allied Market Research.
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In 2016, billboard segment dominated the market, in terms of revenue, due to increase in investment on huge investment on digital advertisements into various public places across various developed and developing nations.
Europe was the highest revenue contributor to the global DOOH market in 2016, accounting for around 38.76% share, owing to surge in demand of digital signage across various industry verticals including healthcare, financial services, government, and others.
Segment Overview
The global DOOH market is segmented based on format type, application, end user, and region. On the basis of format type, the market is divided into billboard, transit, street furniture, and others. Based on application, it is bifurcated into indoor and outdoor. The end user segment is classified into automotive, personal care & household, entertainment, retail, food & beverages, telecom, and BFSI. Based on region, the market is analysed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings of the DOOH Market:
- The billboard segment accounted for the highest share in 2016, growing at a CAGR of 12.80% from 2017 to 2023.
- Outdoor segment generated the highest revenue, accounting for $2,316.90 million in 2016.
- Europe is expected to dominate the market, in terms of market share of 32.7%, during the forecast period.
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Key Players:
The report features a competitive scenario of the global DOOH market and provides a comprehensive analysis of the key growth strategies adopted by major players. The key players profiled in the report include JCDecaux, Clear Channel Outdoor Holdings Inc., Lama Advertising Company, OUTFRONT Media, Daktronics, Prismview LLC NEC Display Solutions Ltd., Oohmedia! Ltd., Broadsign International LLC, and Aoto Electronics Co. These players have adopted competitive strategies, such as innovation, new product development, and market expansion, to boost the growth of the market.