Advertising has become an important part of the contemporary life in industrialized society due to the role it plays in the economy. In comparison to other media, outdoor advertising has a strong effect on consumers. The outdoor advertising can be segmented into four main categories: billboards, Street furniture, transit advertising, and alternative media. Advertisers find outdoor advertising as a lucrative medium to interact with their potential customers. Outdoor advertising market has outperformed in the areas where footfall is high and the potential audience is high in comparison to indoor mediums. Billboards dominate the outdoor market. The growth of the outdoor advertising market has been further fuelled up by benefits provided by digital outdoor advertising.
Global outdoor advertising revenue has been significantly increasing over the years and is expected to increase even further. The US has been the fastest growing economy in out-of-home advertisement market. The outdoor advertising penetration rate in most of the countries is high. With people spending more time outside their homes as a result of changing lifestyle along with increase in the number of buildings, shopping malls, bus lines, subways have provided enough opportunity to advertisers to utilize the space available for advertising.
Digital outdoor advertising also occupies significant share of the total outdoor market due to the benefits like technological improvements and increased visibility. Telecom sector has the highest return in global outdoor market. However, advertisement expenditure on television still beats the expenditure incurred on outdoor advertisement globally. Results of outdoor advertisement have shown that it increases the time taken by a person to forget the message. Increasing urbanization and digitalization are the main drivers of the market.
The report analyzes the global outdoor advertising market with focus on countries like US, Europe, UK, Australia, Russia and India. Outdoor advertising market is quite fragmented. The competition prevailing in the outdoor market has also been included in the report. JC Decaux, Stroer, Clear Channel Outdoor (CCO), and Lamar are among the largest players. Factors affecting the growth and trends of this market have also been analyzed. The report also profiles four major players with a discussion of their key strategies.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the digital signage 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.