The North America Digital Out-of-home Advertising Market would witness market growth of 11.4% CAGR during the forecast period (2022-2028).
Out of Home (OOH) advertising is almost as old as civilization. Vendors have relied on posters, engravings, and symbols to capture people's attention as they go about their daily lives since the dawn of time. Dynamic digital frames are replacing static posters and billboards on a variety of platforms, including billboards, street furniture, buses and trains, retail malls, and more. These frames use programmatic automation to show various ads to different audiences at different times of the day. Marketers now have more power than ever to choose the ideal location, screen size, and timing to reach their target customers in real-time. Digital out-of-home advertising is one of the fastest-growing advertising formats due to the development of new venues and markets, innovation, and expanded features in outdoor advertising. Furthermore, the growing desire for innovative and interactive full-motion video displays, as well as the incorporation of animation, is likely to propel market expansion in the future years.
Commercials can reach a wide spectrum of people through digital out-of-home advertising. As a result, their use is widespread and growing. Furthermore, increased urbanization and infrastructure development around the world are expected to drive market growth over the forecast period. Furthermore, the need for digital out-of-home advertising is expanding as numerous businesses increase their expenditure on outdoor advertising due to its capacity to broadcast multiple adverts on a single screen.
The United States has the largest advertising market in the world. Domestic advertising income was estimated to be $219 billion in 2012, accounting for around 1% of the US gross domestic product (GDP). Advertising money supports almost every major channel of information, including the news, entertainment, and online services. Many newspapers and magazines rely on advertising for 60% to 80% percent of their total revenue, while search engines and social networking sites rely on advertising for the majority of their revenue.
Times Square in New York City is one of the most well-known and iconic locations for DOOH advertisements. This is what made it a great choice for CVS's #BeautyUnaltered digital out-of-home ads. This ad was part of CVS's Beauty Mark social media campaign, which encouraged people to share their unedited pictures with the hashtag #BeautyUnaltered. Users began posting unmodified, unfiltered selfies using #BeautyUnaltered and @cvs beauty within minutes of the campaign's introduction, garnering over 3.6 billion impressions. Every 10 seconds, a new customer's image appeared on the Times Square digital signage, featuring larger-than-life, unretouched images that celebrated true beauty. A traditional digital billboard with awareness messaging was placed alongside the dynamic digital billboard.
The US market dominated the North America 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 $3,562.6 Million by 2028. The Canada market is estimated to grow at a CAGR of 13.9% during (2022 - 2028). Additionally, The Mexico market would display a CAGR of 12.9% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Digital Out-of-home Advertising Market is Estimated to reach $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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