Digital Out of Home Market (DOOH) by Product (Billboard, Street Furniture, and Transit), Application (Indoor and Outdoor), Vertical (Commercial, Infrastructural, Institutional), and Geography - Global Forecast to 2023
In today’s modern dynamic world, digital out of home has changed the face of outdoor advertising. Digital out of home encompasses a variety of screen shapes, sizes, and levels of interactivity.
There is a huge demand for digital out of home, which is growing as a medium for promotion among the large masses.
According to the global experts, the digital out of home market was valued at USD 12.52 Billion in 2016 and is expected to reach USD 26.21 Billion by 2023, at a CAGR of 10.7% during the forecast period.
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Digital out of home advertising is a part of the larger multiscreen ecosystem that effectively displays a message, creating a deeper level of engagement with the consumers. Increasing availability of media options in recent years has fragmented audiences, making it challenging for advertisers to reach their target markets.
Digital out of home media connects with consumers in captive locations, such as elevators, health clubs, and restaurants. Digital advertising is growing at a quicker pace, and media companies are considering digital out of home as the biggest catalyst, which would drive the growth of the digital out of home advertising.
The growth of the digital out of home (DOOH) market is supported by the increasing use of commercial display in advertising, which is a strong medium for promotion for all the sectors and applications. The DOOH market is driven by cost-effectiveness of digital displays.
Increasing deployment of DOOH solutions helps the tourism and hospitality industries to grow further. The growth of retail centers and advent of digital technology have made a positive impact on the DOOH market globally.
Deployment of DOOH solutions has increased rapidly across the globe. Technological innovations such as touch screen technology, near-field communication (NFC), and beacons have created opportunities for this market.
The growth of the DOOH market is mainly dependent on the quantity and quality of the information viewed by individuals from different locations.
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