The Global Billboard and Outdoor Advertising Market Size accounted for USD 30.1 Billion in 2022 and is projected to achieve a market size of USD 47.5 Billion by 2032 growing at a CAGR of 4.3% from 2023 to 2032.
Billboard and Outdoor Advertising Market Report Key Highlights
You are watching: Billboard and Outdoor Advertising Market Size – Global Industry, Share, Analysis, Trends and Forecast 2023 – 2032
- Global billboard and outdoor advertising market revenue is expected to increase by USD 47.5 Billion by 2032, with a 4.3% CAGR from 2023 to 2032
- North America region led with more than 37% of billboard and outdoor advertising market share in 2022
- In the US, the average billboard generates about $24,000 to $30,000 in revenue per year.
- According to a study by the OAAA, 72% of small business owners believe that outdoor advertising is effective in generating new customers.
- One study found that outdoor advertising generates an average of 5.97 impressions per dollar spent, compared to 4.05 impressions for TV advertising and 2.75 impressions for newspaper advertising.
- Digital billboards are the fastest-growing segment of the outdoor advertising market, with revenue growing at a rate of 7% per year.
- Rising demand for programmatic advertising and DOOH, drives the billboard and outdoor advertising market size
Billboard advertising and outdoor advertising are two types of advertising that involve placing ads in public spaces to reach a broad audience. Billboard advertising involves the use of large posters or billboards to display advertising messages in high-traffic areas such as highways, busy streets, or commercial areas. The goal of billboard advertising is to capture the attention of drivers and pedestrians and create a lasting impression of the advertised product or service. Outdoor advertising encompasses a broader range of advertising methods, including billboards, transit ads, street furniture ads (such as bus shelters and benches), and digital displays. Outdoor advertising can also include promotional activities such as experiential marketing and event sponsorships.
The market for billboard and outdoor advertising has seen steady growth in recent years, driven by increased urbanization and the rise of digital technologies. The growth of the market is also influenced by the increasing demand for outdoor advertising from various industries, such as automotive, real estate, and retail. Additionally, the adoption of programmatic advertising and digital out-of-home (DOOH) advertising is expected to drive the billboard and outdoor advertising market growth in the coming years.
Global Billboard and Outdoor Advertising Market Trends
Market Drivers
- Increased spending on advertising by businesses and brands
- Technological advancements in digital and mobile advertising
- Increasing number of commuters and travelers
- Rising demand for programmatic advertising and DOOH
Market Restraints
- Regulatory restrictions and local zoning laws
- High initial investment and ongoing maintenance costs
Market Opportunities
- Growing demand for location-based advertising and geo-targeting
- The emergence of new technologies such as augmented reality and virtual reality
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Billboard and Outdoor Advertising Market Report Coverage
Market Billboard and Outdoor Advertising Market Billboard and Outdoor Advertising Market Size 2022 USD 30.1 Billion Billboard and Outdoor Advertising Market Forecast 2032 USD 47.5 Billion Billboard and Outdoor Advertising Market CAGR During 2023 – 2032 4.3% Billboard and Outdoor Advertising Market Analysis Period 2020 – 2032 Billboard and Outdoor Advertising Market Base Year 2022 Billboard and Outdoor Advertising Market Forecast Data 2023 – 2032 Segments Covered By Type, By Application, And By Geography Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa Key Companies Profiled Clear Channel Outdoor Holdings, Inc., Lamar Advertising Company, Outfront Media Inc., JCDecaux, Adams Outdoor Advertising, Intersection, Exterion Media, Global Outdoor Advertising, CBS Outdoor, Kinetic Worldwide, Ocean Outdoor, and Primesight Limited. Report Coverage Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Covid-19 Analysis, Regulation Analysis Billboard and Outdoor Advertising Market Dynamics
A huge outdoor advertising board or structure usually installed in areas with heavy traffic such as highways or busy roads is called a billboard. A billboard presents vast advertising opportunities to passing pedestrians and drivers. Billboards are significantly visible in the above-designated areas and show wide and large visuals with seemingly appealing and witty slogans. Such advertisements are formulated to catch an individual’s attention swiftly to create a remarkable and memorable impression on the reader’s mind. Billboards carrying advertisements generally consist of lesser and more precise content, with large prints and humorous and arresting font in an eye catchy color that can be easily read by passers or individuals driving at relatively higher speeds. Outdoor advertising, also known as out-of-home advertising, is a type of advertising which reaches the target audience and consumers who are outside on streets and in public places. Outdoor advertising focuses on marketing to those consumers who are in transit, on the go or waiting in queues at the doctor’s or any other commercial locations such as retail stores. Various outdoor advertising options are available in the market. The most common mode of outdoor advertising is street furniture which comprises news racks, bus shelters, telephone booths, and mall kiosk advertising.
Outdoor advertising using street furniture is majorly witnessed in urban areas with developed street furniture formats. In addition, street furniture outdoor advertising furnishes sincere benefits to distinct communities since maintaining and building these shelters is relatively less expensive and less tedious. Other outdoor advertising options include transit advertising which is typically a form of advertisement employed on any movable objects including subway advertising, buses, food trucks, truck side, and taxis. It also involves electronic and fixed static advertising in bus and train stations. Also, airport advertising helps in targeting a traveling audience. Airport advertising is generally adopted by municipalities since it furnishes huge revenues to port and city authorities. Increasingly automated and networked outdoor advertising infrastructure facilitates systematic and programmatic advertising and also helps in providing personalization of ads and dynamically manages and automates the inventory.
Some of the major factors fueling the growth of the global billboard and outdoor advertising market include the increasing number of digital outdoor advertising, rapid urbanization as well as a significant development of the global economy. Moreover, other additional aspects such as improved audience, commuting trends, and low-cost advertising mediums are some of the important factors expected to accelerate the global outdoor advertising market. However, several regulatory standards employed by governments across the globe for advertising at particular locations/spaces are a key factor hampering the growth of the global billboard and outdoor advertising market value. Furthermore, digital billboards are not widely accepted due to high costs and huge maintenance and are anticipated to hinder the growth of the overall market.
Billboard and Outdoor Advertising Market Segmentation
The global billboard and outdoor advertising market segmentation is based on type, application, and geography.
Billboard and Outdoor Advertising Market By Type
- Digital billboards
- Painted billboards
- Mobile billboards
- Multi-purpose billboards
- Others
According to a billboard and outdoor advertising industry analysis, digital billboards have seen significant growth in recent years. This is driven by advancements in digital technologies and the increasing demand for more engaging and dynamic advertising experiences. The adoption of digital billboards is expected to continue to grow as advertisers seek to deliver more targeted and personalized advertising content. Digital billboards can be programmed to display different advertisements based on the time of day, the weather, and other factors, allowing advertisers to deliver more relevant and timely messages to their target audience. Other factors driving the growth of the digital billboard segment include the increasing popularity of programmatic advertising and the use of data analytics to optimize advertising campaigns. Additionally, advancements in display technologies such as high-resolution LED screens and interactive touchscreens are also expected to drive the growth of the digital billboard market.
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Billboard and Outdoor Advertising Market By Application
- Railway stations
- Highways
- Automobiles
- Buildings
- Others
According to the billboard and outdoor advertising market forecast, the building segment is expected to continue to grow in the coming years. The building segment of the billboard and outdoor advertising market refers to the use of outdoor advertising on the exterior of buildings. This type of advertising includes building wraps, rooftop signage, and wallscapes, and is typically used to promote products or services to a local audience. The market for building advertising has seen steady growth in recent years, driven by the increasing demand for eye-catching and unique advertising displays. Building advertisements offer several advantages over traditional billboard advertising, including the ability to target a specific local audience and the potential for high visibility in high-traffic areas.
Billboard and Outdoor Advertising Market Regional Outlook
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- India
- Japan
- China
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
The Middle East & Africa
- South Africa
- GCC Countries
- Rest of the Middle East & Africa (ME&A)
Billboard and Outdoor Advertising Market Regional Analysis
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