Growing Digital Advertising Coupled with Infrastructure Development is Driving Growth of the DOOH Market
Global digital out-of-home (DOOH) market is estimated to grow at a CAGR of nearly 10.7% during the forecast period (2024-2031). The market growth is driven by rising urbanization across the globe and increasing demand for programmatic advertising. Additionally, there increasing shift from offline out-of-home advertising to DOOH advertising to novel technologies such as beacons and geofencing, which is also contributing towards the market growth.
The global DOOH market is segmented by application (billboard, transit, street furniture, malls, and others), by vertical (entertainment, retail and e-commerce, BFSI, telecom, hospitality, automobile, food and beverage, and others), and by geographies (North America, Europe, Asia-Pacific, and Rest of the World).
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The major players in the global DOOH market include CDecaux Group, OUTFRONT Media Inc., Daktronics, Inc., Clear Channel Outdoor Holdings, Inc., and Adomni, Inc., among others. The market players are contributing significantly to the market growth, by the adoption of various business strategies, such as collaborations, mergers and acquisitions, product portfolio diversification, and more.
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