STRATEGIC PARTNERS
June 23, 2021
The Digital Out of Home advertising market is expected to grow at a compound annual growth rate of 10.35% over the next five years to reach a market size of $33.372 billion in 2026 from $16.750 billion in 2019, according to a report in ResearchandMarkets.com.
DOOH media includes digital billboards and outdoor signage, as well as networks of screens found in businesses like malls and healthcare providers.
Regulations for DOOH, such as the content and size in different regions and the volatile cost of DOOH, might pose a restraint to the global market, according to the report.
Growth factors
The growing use of commercial displays in advertising is projected to fuel DOOH market growth.
A factor for the growth is the availability of relatively low-cost digital displays. Increasing adoption of virtual reality and augmented reality cloud-based platforms, along with growing demand for Internet of things, should also provide significant opportunities to the industry, according to the report. Also, replacement of traditional billboards with digital billboards is expected to fuel market growth.
COVID-19 impact
While the Digital Out of Home ad market projects steady growth, the impact of COVID-19 can't be overlooked. Due to the pandemic, several markets have been adversely affected from repercussions on companies' operating profits. The DOOH market is witnessing lower reach, especially at transport locations as customers are mostly staying indoors and avoiding crowded places.
