The global market for Outdoor Advertising is forecast to cross US$23.9 billion by the year 2015. Key factors driving market growth include increasing popularity of digital billboards and video screens, advancements in print technology, and increased demand from developing markets, including Asia-Pacific and Middle East. Moreover, a sharp downfall in the effectiveness of various other modes of advertising media is further bolstering growth in outdoor advertising.
Like in any other sector, the advertising industry including the outdoor advertising segment also reeled under the adverse affects of the recession and recorded sluggish business in the last two years. Conventional media platforms such as newspapers, television and radio received severe blow from the recession. Outdoor advertising though dented by the recession is poised for faster recovery and record robust growth rates in the coming few years, thanks to the increasing popularity of digital technology that is driving gains in this market. Alternative out-of-home, which comprises digital billboards and video screens are expected to record robust growth rates and account for a lion' share of outdoor advertising revenues in the near future. The technology is fast eating into the shares of conventional communication mechanisms such as television and print by virtue of its numerous advantages such as low cost and the ability to combine conventional strengths of outdoor advertising with novel targeting opportunities.
Europe represents the largest market for outdoor advertising worldwide, as stated by the new market research report Outdoor Advertising. However, fastest growth is likely to emanate from Asia-Pacific market, which is portended to become one of the leading outdoor advertising markets in the world.
In terms of advertising expenditure, Billboards constitute the largest mode/format of outdoor advertising. Being highly effective in promotional activities, billboards are expected to retain their market dominance over the coming years. The expenditure on billboards is projected to reach US$11.9 billion by 2012. Of late, a growing number of corporates prefer digital-out-of-home technology, as the technology enables the advertiser to reach effectively to on-the-move consumers and upgrade information quickly on the digital billboards. Digital billboards that display sequential advertisements and change in every eight to ten seconds are gaining wide popularity due to their ability to generate greater revenues in comparison to the posters, which displays a single advertisement at a given point of time. Large retail outlets, grocery stores, shopping malls, gas stations, movie theaters, restaurants, and health clubs represent few of the hotspots for the installation of digital display screens. Transit represents the other major mode of outdoor advertising. Advertising via transit consists of airport, taxi displays, truck sides, buses, subway and rail and wrapped vehicles.
Outdoor advertising, which includes a variety of formats such as billboards, displays, posters, street furniture and transport advertising, has made several developmental strides in the last one and half decades. The share of outdoor advertising has gone up tremendously due to advanced methods for customer research, advancements in print technology, sincere efforts of advertisers, innovative products and consolidation. Some of the most popular formats of outdoor advertising include street furniture, posters, displays and billboards. Hi- fi displays, including magicink, LED and digital, and new avenues have stimulated the market for outdoor advertising. Technological advancements have made it possible for marketers to display their outdoor ads in majority of the public places such as point-of-purchase, newsstands, bus stops, washrooms, airports, subways and public transportation. Creating moving display and full color fixed images for outdoor advertising panels is possible because of digital magicink technology that consumes less power.
Growing demand of the advertisers for newer, unique and visually attractive ways to deliver messages to their target audience is paving way for the emergence of various novel digital-out-of-home (DOOH) technologies such as digital media facades. Digital media facades are large-scale video screens that are attached to the buildings exterior and which function as a building façade as well as a screen, enabling advertisers to reach their target audience at the most unexpected locations. Digital media facades prove to be a win-win situation for both the building owners as well as advertisers as the facades serve as the advertising as well as branding displays.
Major players profiled in the report include Adams Outdoor Advertising, AdSpace Networks Inc., Affichage Holding SA, APN Outdoor, Burkhart Advertising Inc., Captivate Network, Clear Channel Outdoor Inc., Clear Media Limited, CBS Corporation, Daktronics Inc., EPAMEDIA, Fairway Outdoor Advertising LLC, JCDecaux Group, Lamar Advertising Company, PRN Corporation, Planar Systems Inc., Stroer Out-of-Home Media AG, Van Wagner Communications, Zoom Media Inc., among others.
The report titled Outdoor Advertising: A Global Strategic Business Report provides a comprehensive review of the outdoor advertising markets, impact of recession on the markets, current market trends, key growth drivers, segmental overview, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for Outdoor Advertising for the following geographic markets - US, Canada, Japan, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Key segments analyzed include Billboards, Transit, Street Furniture and Alternate & Others. Also, a six-year (2001-2006) historic analysis is provided for additional perspective.
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