Billboard and Outdoor Advertising Global Market Report 2024

The billboard and outdoor advertising market size has grown strongly in recent years. It will grow from $390.77 billion in 2023 to $410.82 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth observed during the historic period can be attributed to changes in mobility and transportation, environmental considerations, cultural and social trends, competition, and industry growth, as well as innovations in design and creativity.

The billboard and outdoor advertising market size is expected to see steady growth in the next few years. It will grow to $492.07 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The anticipated growth in the forecast period can be attributed to factors such as digital transformation, targeted advertising solutions, mobile integration, augmented reality (AR) and virtual reality (VR), and a focus on environmental sustainability. Major trends expected in the forecast period encompass cross-channel campaigns, interactive advertising, mobile integration, data-driven targeting, and programmatic buying.

The anticipated rise in digital out-of-home (DOOH) advertising is poised to contribute to the expansion of the billboard and outdoor advertising markets. Out-of-home (OOH) advertising encompasses promotional activities outside the home, including billboards, bus shelters, wallscapes, and posters. DOOH, exemplified by outdoor signage, digital billboards, and television screens, offers a dynamic alternative to traditional billboards by displaying live images and running multiple advertisements, capturing a broader consumer audience. Reports from SEO by Sociallyin indicate an estimated 19.2% growth in DOOH advertising spending, reaching $3.84 billion in 2023, showcasing its lucrative and engaging nature.

The increasing adoption of digital marketing is expected to drive the growth of the billboard and outdoor advertising market. Digital marketing utilizes digital channels and platforms to promote products, services, or brands, enhancing the interactivity, engagement, and targeting capabilities of billboard and outdoor advertising. The digital marketing sector exhibited a 14% increase in expenditure in 2020 and 2021, with an anticipated annual expansion of 9%, as reported by Ranktracker. Oracle Corporation highlights the global rise in digital advertising spending, projected to grow from $378 billion in 2020 to $646 billion by 2024. This surge in digital marketing adoption serves as a catalyst for the growth of the billboard and outdoor advertising market.

Regulatory standards imposed by governments globally pose challenges to the global billboard and outdoor advertising market. Regulations, such as restrictions on advertising certain products near schools and limitations on political advertising in specific locations, vary across regions. The Committee of Advertising Practice (CAP) in the UK oversees non-broadcast advertising, enforcing extensive regulations covering areas such as environmental claims, gambling, alcohol sales, and e-cigarettes. In the US, many states adopt lighting standards to prevent glare from digital billboards, ensuring they do not impact the vision of passersby. While these regulations aim to benefit society, they present hurdles for the advertising business.

The expansion of programmatic media buying emerges as a notable trend in digital out-of-home (DOOH) advertising. Programmatic advertising utilizes automated technology to purchase advertising space, relying on data insights and algorithms to deliver targeted advertisements at optimal times and prices. PubMatic, Inc. reported that about 82% of viewers could recall a DOOH advertisement seen over a month ago. Brands are increasingly adopting in-house programmatic media buying capabilities to gain control and transparency over programmatic inventory. In April 2021, PubMatic collaborated with BT and Essence, enabling BT to enhance visibility into its total media spend and investigate the 'unknown delta.'

Major companies in the billboard and outdoor advertising market are actively innovating technological products to enhance the accessibility and effectiveness of DOOH advertising. For instance, JCDecaux Group launched a programmatic DOOH offering for the Brazilian market in June 2022, allowing real-time automated buying and selling of DOOH advertising inventory. This approach mirrors programmatic online advertising but is tailored specifically for DOOH screens, enabling advertisers to purchase inventory efficiently and at scale.

In January 2021, Link Media Outdoor expanded its footprint through the acquisition of Thomas Outdoor Advertising, Inc.'s outdoor advertising assets, strengthening its presence in Kansas and enhancing services for advertisers and customers. Thomas Outdoor Advertising, Inc. is a US-based billboard advertising company.

Major companies operating in the billboard and outdoor advertising market report are Capitol Outdoor LLC, Titan Outdoor Holdings Inc., JCDecaux Group, Clear Channel Outdoor Holdings Inc., Lamar Advertising Company, Stroer SE & Co. KGaA, Outfront Media Inc., Vector Media Pvt. Ltd., Focus Media Holding Limited, Daktronics Inc., APG SGA AG, oOh!media Limited, Yesco Outdoor Media LLC, Posterscope Limited, Kinetic Worldwide Ltd., Intersection Co., Adams Outdoor Advertising Ltd., Watchfire Signs LLC, Primedia Pty Ltd., Ocean Outdoor UK Limited, Broadsign International LLC, Fairway Outdoor Advertising LLC, Prismview LLC, Talon Outdoor Limited, Formetco Incorporated, Ayuda Media Systems Ltd., Burkhart Advertising Inc., Exterion Media Uk Ltd., Vistar Media Inc., Allison Outdoor Advertising Ltd., Rapport Worldwide Ltd., Adomni Inc., ACME Intergalactic Inc. Asia-Pacific was the largest region in the billboard and outdoor advertising market in 2023. North America was the second largest region in the global billboard and outdoor advertising market analysis. The regions covered in the billboard and outdoor advertising market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The primary types of billboards and outdoor advertising include painted billboards, digital billboards, multi-purpose billboards, mobile billboards, and others. A digital billboard displays digital graphics that are altered every few seconds by a computer. While primarily used for advertising, digital billboards can also serve public service purposes. These services find applications in various locations such as highways, railway stations, buildings, automobiles, and are utilized by sectors such as retail, banks and financial institutions, commercial buildings, media and entertainment, government, and transportation.

The billboard and outdoor advertising market research report is one of a series of new reports that provides billboard and outdoor advertising market statistics, including global and regional market sizes, competitors with a billboard and outdoor advertising market share, detailed billboard and outdoor advertising market segments, market trends and opportunities, and any further data you may need to thrive in the billboard and outdoor advertising industry. This billboard and outdoor advertising market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The countries covered in the billboard and outdoor advertising market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The billboard and outdoor advertising market consists of revenue earned by entities by providing services such as creating and designing public display advertising campaign materials, such as printed, painted, or electronic displays, and/or place such displays on indoor or outdoor billboards and panels, or on or within transit vehicles or facilities, shopping malls, retail (in-store) displays, and other display structures or sites. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.