Market Study Report adds new research on Billboard and Outdoor Advertising market, which is a detailed analysis of this business space inclusive of the trends, competitive landscape, and the market size. Encompassing one or more parameters among product analysis, application potential, and the regional growth landscape, Billboard and Outdoor Advertising market also includes an in-depth study of the industry’s competitive scenario.
The use of billboard came in the initial 19th century and have persisted as the most prevalent forms of outdoor advertising. In the early years, billboards were produced through different sections of the paper, which put together to make a single image. Then, it advanced to vinyl material which possibly makes the whole image to be printed on a single sheet.
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Later on, the developments in technology and material, billboards advanced to digital display panels that can be established quickly and easily. They are generally used in large traffic areas to grab better attention from a wide target audience. This form of advertising is an efficient way of developing brand awareness and broadcasting business (or product or campaign) to as many people. Also, it provides a wide degree of flexibility to advertisers and marketers in their campaign, which may pave the way for higher market growth.
Major Billboard and Outdoor Advertising Market player included in this report are:
- Capitol Outdoor LLC
- Clear Channel Outdoor Holdings Inc
- Lamar Advertising Co.
- OUTFRONT Media Inc.
- Focus Media
- Primedia Outdoor
Moreover, the increased use of billboards in digital advertising due to the technological enhancements, along with increasing rate of urbanization are the few factors responsible for the high CAGR of the market during the forecast period. For instance, as per Statista, in 2019, American advertisers spent almost USD 3.5 billion on digital outdoor adverting, that incorporates digital billboards, and is projected to grow almost USD 5.2 billion by the year 2023. This, in turn, is likely to strengthen the demand for Billboard and Outdoor Advertising, thereby contributing to the market growth around the world. However, the high maintenance cost is one of the prime factors restraining the market growth over the forecast period of 2020-2027.
The regional analysis of the global Billboard and Outdoor Advertising market size is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising government initiative to opt for digital Advertising, along with the wide presence of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the growing application of outdoor advertising in automobile and highways coupled with rising urbanization in the developing nations, such as China and India, are the few factors creating a lucrative opportunity for the growth of the Billboard and Outdoor Advertising market in the Asia-Pacific region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
- Painted billboards
- Digital billboards
- Multi-purpose billboards
- Mobile billboards
- Railway stations
- North America
- Asia Pacific
- Latin America
- Rest of the World
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