Digital Out of Home Market (DOOH) - Forecast to Reach $26.2 Billion by 2023
DUBLIN, October 13, 2017 /PRNewswire/ --
The "Digital Out of Home Market (DOOH) by Product (Billboard, Street Furniture, and Transit), Application (Indoor and Outdoor), Vertical (Commercial, Infrastructural, Institutional), and Geography - Global Forecast to 2023" report has been added to Research and Markets' offering.
The digital out of home market was valued at USD 12.52 Billion in 2016 and is expected to reach USD 26.21 Billion by 2023, at a CAGR of 10.7% during the forecast period. Digital out of home advertising is a part of the larger multiscreen ecosystem that effectively displays a message, creating a deeper level of engagement with the consumers. Increasing availability of media options in recent years has fragmented audiences, making it challenging for advertisers to reach their target markets. Digital out of home media connects with consumers in captive locations, such as elevators, health clubs, and restaurants. Digital advertising is growing at a quicker pace, and media companies are considering digital out of home as the biggest catalyst, which would drive the growth of the digital out of home advertising.
The growth of the digital out of home (DOOH) market is supported by the increasing use of commercial display in advertising, which is a strong medium for promotion for all the sectors and applications. The DOOH market is driven by cost-effectiveness of digital displays. The players in this market need to continuously find unique product implementations and create complementary products and innovative services to increase their market share. Digital out of home provides an opportunity for marketing with digital billboards, creating interactive campaigns, and weekly promotion at a greater level, without wasting paper for printed boards.
Increasing deployment of DOOH solutions helps the tourism and hospitality industries to grow further. The growth of retail centers and advent of digital technology have made a positive impact on the DOOH market globally. However, the increased online/broadcast advertisement and lack of standards for interoperability between devices are restraining the growth of the DOOH market.
Deployment of DOOH solutions has increased rapidly across the globe. Technological innovations such as touch screen technology, near-field communication (NFC), and beacons have created opportunities for this market. The growth of the DOOH market is mainly dependent on the quantity and quality of the information viewed by individuals from different locations. The digital out of home displays capture more attention than the printed media; it is also cost-effective in the long run, as there are no additional costs required to change content.
Companies Mentioned
- Aoto Electronics Co., Ltd.
- Ayuda Media Systems
- Broadsign International Llc
- Chrisitie Digital Systems Usa, Inc.
- Clear Channel Outdoor Holdings, Inc.
- Daktronics
- Deepsky Corporation Ltd.
- Jcdecaux
- Lamar Advertising Company
- Mvix, Inc.
- Nec Display Solutions Ltd
- Ocean Outdoor Uk Ltd
- Ooh!Media Ltd.
- Outfront Media Inc.
- Prismview Llc
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Digital Out of Home Market, By Product (Qualitative Chapter)
8 Digital Out of Home Market, By Application
9 Digital Out of Home Market, By Vertical
10 Geographic Analysis
11 Competitive Landscape
12 Company Profiles
13 Appendix
For more information about this report visit https://www.researchandmarkets.com/research/2f8pdm/digital_out_of
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