The global out of home advertising market could be worth nearly US$46 billion by 2021, according to a new study by technology research and advisory firm Technavio.
A new report, “Global Outdoor Advertising Market 2017 – 2021”, breaks down all things out of home into four main categories; billboards, shelters, transit displays and street furniture. Technavio then coordinated an in-depth analysis for all geographic regions in terms of emerging trends and revenue, with the future looking extremely bright for the industry as a whole.
Lead analyst for Technavio, Ujjwal Doshi, said: “Billboard advertising is the dominant segment of the global market, and generated more than 71% of overall revenue. It is very cost effective and provides a large reach.”
Despite the continued importance of billboard advertising and the key role it plays in the industry, transit advertising – including buses, taxis and trains – is officially the global OOH market’s fastest-growing segment, thanks to increased investments in transportation infrastructure in countries like China, India and Brazil.
Shelters, which Technavio defines as kiosks, screens and displays in high-footfall areas (e.g. shopping centres), are the second fastest-growing OOH category globally.
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