LAMEA Digital Out-of-home Advertising Market Size, Share & Industry Trends Analysis Report By Format (Billboards, Transit & Transportation, Street Furniture, and Place-based Media), By Vertical, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Latin America, Middle East and Africa Digital Out-of-home Advertising Market would witness market growth of 14.3% CAGR during the forecast period (2022-2028).
Unlike typical OOHs, DOOH displays are swiftly deployed with only the upfront expenditures of screens and setup, with no recurrent costs, manual labor costs, or printing costs. With maximum interaction, minimal expense, effort, and time inputs, DOOH helps to reduce the entire advertising budget. Furthermore, if the primary content is user-generated, the advertiser won't have to spend time developing fresh content every day because their consumers will do so, saving them money on models, actors, and professional photographers. Furthermore, display panels can be adjusted and moderated in real-time, allowing for the broadcast of fresh content with frequent updates to maintain audience interest.
A company may develop personalized advertising with DOOH advertising and its interaction with artificial intelligence and recognition. Personalization is an important aspect of modern advertising because it forms the consumer's first impression of the brand. As the average consumer becomes the brand's advocate, it's almost like creating on-the-spot user content. Consumers' first impressions of a brand have a significant impact on their subsequent trips through the engagement and purchase funnel. Sentiment recognition, facial expression analysis, behavior analysis, and a picture identification, combined with digital out-of-home advertising, could greatly aid in the delivery of targeted advertising in an offline setting.
The UAE, and particularly Dubai, acts as the region's commercial hub. The UAE organizes a growing and practically continuous series of well-attended trade exhibits and conferences from late September to early May. These trade shows draw a large number of exhibitors from all over the world, giving all foreign companies the opportunity to investigate the local market and assess the potential of their products or services before making a business choice. In the 2018 fiscal year, there were five commerce-certified trade fairs in the UAE, covering all areas from aerospace and defense to healthcare.
In order to promote sales, advertising is crucial. About 40% of the UAE's population is native Arabic speakers, and Arabic is the country's official language. However, because of the UAE's diversified population and a huge number of non-Arabic speakers, English is the country's primary language. Despite the fact that English is the business language, Arabic is the official language and is required for all government documents. Furthermore, signage and many publications use a combination of English and Arabic. Promotional literature written simply in English is okay, but those written in both English and Arabic have an advantage.
The Brazil market dominated the LAMEA 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 $333.3 Million by 2028. The Argentina market is anticipated to grow at a CAGR of 14.9% during (2022 - 2028). Additionally, The UAE market would showcase a CAGR of 14% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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.
Scope of the Study
Market Segments Covered in the Report:
- Transit & Transportation
- Street Furniture
- Place-based Media
- Real Estate
- Financial Services
- Media & Entertainment
- Automotive & Transportation
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- 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.
- Global Media Group Services Limited
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