The Europe Digital Out-of-home Advertising Market would witness market growth of 11.5% CAGR during the forecast period (2022-2028).
While digital OOH was originally only employed by businesses with significant revenue, such as automobiles or entertainment, marketers today have far more access to high-performing ad space, as well as greater flexibility and control. Instead of targeting people based on streets and corners, DOOH uses advanced audience targeting to allow companies to reach specific people with certain behaviors or habits. Traditional OOH remains popular, but there is considerably more flexibility in how traditional and DOOH places can be combined for maximum impact. By extending standard buys or streamlining distinctive creative treatments, marketers can leverage programmatic buying to supplement existing DOOH programs.
One of the best aspects of DOOH is how rapidly it can be implemented. A company may have thousands of zip codes in mind, with the intention of using Creative A in one area and Creative B in another. Depending on the market, several versions of the campaign may be required to reach different DMAs with different messages. With direct purchase, this may take a team, weeks to deploy. The back-and-forth with vendors and proposals could slow the campaign down or compel the company to simplify its plan. Programmatic technology simplifies the process, allowing companies to be more agile and respond to changes in real-time.
According to the IAB Europe's Attitudes to Programmatic Advertising 2020 research, nearly a third of agencies anticipate that in 2021, DOOH will be the most important growth area for programmatic spending. Europe is one of the most developed regions on the globe with the proper infrastructure to aid the widespread adoption of digital out-of-home advertising. The region also has the world’s biggest automotive and fashion companies, which want to advertise their products to a diverse audience in the region.
The advertising industry in the United Kingdom generates £13.3 billion in gross revenue. However, this includes payments for media space, some of which are included in the income for television, radio, and publishing in this report. It is estimated for net sales to be between £4 billion and £6 billion. The value-added contribution of advertising to the UK economy is £2.9 billion, while advertising agencies' net earnings are around £1 billion. The UK also has densely populated and well-developed cities such as London and Manchester which is a boon for the digital out-of-home advertising market.
The Germany market dominated the Europe Digital Out-of-home Advertising Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $910.8 Million by 2028. The UK market is experiencing a CAGR of 10.5% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 12.3% during (2022 - 2028).
Based on Format, the market is segmented into Billboards, Transit & Transportation, Street Furniture, and Place-based Media. Based on Vertical, the market is segmented into Real Estate, Financial Services, Government, Restaurants, Media & Entertainment, Automotive & Transportation, Retail, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Digital Out-of-home Advertising Market Size will Hit $14.3 Billion by 2028, at a CAGR of 11.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include JCDecaux Group, Ströer SE & Co. KGaA, Clear Channel Outdoor Holdings, Inc., OUTFRONT Media, Inc., oOH!Media Limited, Broadsign International, LLC, Focus Media Information Technology Ltd., and Global Media Group Services Limited.
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