Outdoor advertising also called as out-of-home advertising, includes any type of advertising that reaches the consumers when they are outside their homes. This form of advertising works all the seven days of the week and twenty-four hours a day. Outdoor advertising comprises four major segments namely; billboards, street furniture, transit advertising and alternative media. Billboards have been the largest segment in the outdoor advertising market due to the increasing popularity of digital billboards across the world. The global outdoor advertising market is growing at a steady rate and is expected to continue to do so in near future mainly due to increasing popularity of this segment among other segments of the advertising industry.
The key factors which are anticipated to drive market growth include increasing urbanization, global economic development and digital outdoor advertising. Some of the noteworthy industry trends include improved audience measurement, low-cost advertising medium and commuting trends among others. However, the industry remains threatened by certain challenges which include regulatory issues at local level.
The report provides a comprehensive study of outdoor advertising market globally and also provides detailed information for key regional markets. The competition in the global outdoor advertising market is intense among large players like JC Decaux, Lamar Advertising Company, Clear Channel Outdoor Holdings, Inc. and CBS Corporation. All these companies have been profiled in the present report highlighting their key financials and business strategies for growth.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.