Digital OOH Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
- Transparency Market Research
Though, OOH (out of home) is one of the advertising mediums used since long, it has definitely been more so, of late on account of the increasing adoption of digital outdoor advertising. Digital OOH is impactful as it is larger than life and can come in varying shape, size, and format. It can effectively target customers by behavior, location, demographic, and day-part. All these factors are propelling their use across the globe and driving the market for digital out of home. The customer-focused nature of this form of advertising along with innovative, and media fluency are estimated to continue to drive the growth prospects of the global digital OOH market.
The digital OOH media can deliver continually across customers of all demographics, a brand’s message, when they are out for any of their out of home activities. As many of the companies are realizing the importance of extending their marketing strategies outdoors, the demand for digital OOH market is increasing. Moreover, with technological advancements ensuring innovative changes in the type of digital screen used for advertising, these form of advertising are becoming increasingly more interactive and engaging.
Although the market may be matured, there still exists intense competition among players. The presence of many local and global players is intensifying the competitive nature of the global digital out of home market. It is becoming more and more difficult for players to stay abreast the advances in technology and thus, to survive in the market, it is becoming compelling for players to stay ahead of each other. Distinguishing their product and service offerings is the best bait and players are achieving this through a unique value proposition.
Digital out-of-home (DOOH) form of advertising is a dynamically-served visual mode of advertising that targets customers when they are outdoors, in-transit, and waiting or at commercial venues. It intercepts customers with extremely targeted messages when they go about their day-to-day activities and effectively increases a brand’s message, thus creating a deep level of engagement with on-the-go customers. Such advertising campaigns take into account the customer mindset and location. The traditional mode of OOH advertising is the use of billboards. In recent years, there has been substantial growth in digital billboards and place-based networks. Digital OOH is dynamic media distributed across place based networks at locations such as colleges, gas stations, bars, health clubs and restaurants. DOOH networks feature stand-alone screens and kiosks. Recent years have seen these advertising networks transform into real-time marketing platforms because of the increased use of mobile beacons and dynamic data feeds. DOOH encompasses a variety of screen shapes, sizes as well as levels of interactivity. It provides a bridge between context and location and has high level of impact and flexibility. Each DOOH advertising campaign is relevant to the unique environment outdoors.
The growing mobility of customers is increasing the visibility of outdoor media. This is contributing significantly to the growth of digital OOH market. Also, the price erosion of digital screens has further fostered this market’s growth. DOOH advertising can also be implemented on public transport. With long travel times and increase in leisure travel, it is continually reaching a large number of target audiences. Innovation in this form of advertising has resulted in real-time campaigns. Advertisers are able to target the right people by being able to change the content of ads based on location, time of the day and weather. The relevance achieved as a result of the flexibility and the ability of DOOH to be able to reach the masses is giving brands the chance to create campaigns that will be remembered by the customers. Also, the use of text, images and real time content is more attractive to customers and has a significant influence on their purchasing decisions. However, the high initial spending incurred in installing digital signage is a barrier in the growth of DOOH market. Also, the return on investment of such campaigns is hard to calculate and can become further complex when the costs incurred on the repair and maintenance of screens is also considered.
The digital OOH market can be categorized into billboards, street furniture, and transit. Billboards can be traditional billboards and digital billboards. Street furniture can be further categorized into bus shelters, mall kiosks, telephone booth advertising and news racks. Also, transit advertising can be further categorized into electronic advertising at bus stops, train stations, airports and advertising in buses, taxis, airplanes and subway advertising.
Some of the companies offering digital signage software include Broadsign, Scala – Digital Signage Software, Ayuda Media Systems, Signagelive Limited, Net Display Systems, ONELAN Limited, YCD Multimedia, Four Winds Interactive, ADFLOW Networks, DISE International AB, Omnivex Corporation and Navori digital signage software.
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