Digital Out of Home Market : Opportunities , Challenges and Trends by 2023

The report "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 2025" The digital out of home (DOOH) market is expected to reach USD 32.1 billion by 2025, at a CAGR of 10.7% between 2017 and 2025. The growth of the digital out of home 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.

Indoor applications are expected to grow at the highest CAGR during the forecast period

Indoor applications involve environments with low ambient light. In indoor advertising, content needs to be managed and changed periodically because of the high customer interaction in various areas such as retail, hospitality, and healthcare. As the usage of products such as displays, media players, and projectors in retail and hospitality increases, the digital out of home market would also experience growth. There is also a growing demand among the customers for displays based on direct-view LED and LCD technologies. These displays have a significant resolution and can be used to construct seamless and infinite size video walls. New technological innovation for digital out of home such as electronic paper displays is still in the stage of development.    

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Infrastructural vertical expected to grow at the highest CAGR during the forecast period

The digital out of home market for the infrastructural vertical includes transportation and entertainment sectors. Displays are installed in railway stations, roadways, and airports in the transportation sector. These displays provide accurate and timely data regarding schedules and timing of trains, flights, and buses with the help of interactive screens, thereby helping travelers to have access to updated information. In the entertainment sector, the displays are installed in theaters, stadiums, arenas, nightclubs, and other entertainment venues.

Digital out of home plays a significant role in the transportation sector. Some of the interactive products for the transportation sector are interactive digital billboards, public information displays, and interactive kiosks. For instance, in May 2016 Volta Charging (US) an electric car charging provider partnered with Peerless Industries, Inc. (US) for a digital charging station. Peerless Industries, Inc. designed a digital out of home solution with the following components: Peerless-AV Outdoor Daylight Display inside a Xtreme Outdoor Portrait Kiosk, with a tall backlit poster box, a Chromebox media player, an EKM power meter, and a cellular modem. These stations enable digital advertising on one side, and a blue light on the other side of these displays helps the car drivers to identify the charging station. It is owing to advanced features and offerings the infrastructural vertical is expected to grow at a highest CAGR during the forecast period.

APAC expected to witness the highest growth rate  during the forecast period

The digital out of home market in Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. Increasing developments in the field of transportation, communication, public infrastructure, and construction are expected to create demand for digital out of home in this region. The digital billboards and kiosks are suitable for sectors such as retail, corporate, and education. As the digital out of home market is directly related to the population of a region, APAC is a potential market for various digital out of home devices such as billboards, street furniture, and transit and could register high growth in the retail, entertainment, education, and transportation sectors. The low cost of labor in this region reduces the overall implementation cost of the digital out of home system. This factor provides an opportunity for companies to establish and grow in the digital out of home market in this region.

The digital out of home market is dominated by players such as JCDecaux (France), Lamar Advertising Company (US), Clear Channel Outdoor Holdings, Inc. (US), OUTFRONT Media (US), Prismview LLC (US), Daktronics (US). Other major players in the digital out of home market include NEC Display Solutions, Ltd. (Japan), oOh!media Ltd. (Australia), Broadsign International LLC. (Canada), Stroer SE & Co. KGaA (Germany), Mvix, Inc. (US), Christie Digital Systems USA, Inc. (US), Ayuda Media Systems (US), Deepsky Corporation Ltd. (Hong Kong), and Aoto Electronics Co., Ltd (China). Major players are actively performing in the digital out of home market by following contracts and partnerships as their key strategy. Along with product launches, the companies also follow other strategies such as contracts, partnerships, joint ventures, collaborations, and mergers and acquisitions.

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