Detailed Study of Outdoor Advertising Market by Research Cosmos
Outdoor Advertising Market Size and Growth Rate:
As per the latest reports published by Research Cosmos, Outdoor Advertising Market was valued at USD 5.043 billion in 2017 and projected to reach USD 10.326 billion by 2023 growing at a CAGR of 9.04% during the forecast period 2017 to 2023.
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Outdoor Advertising Market Growth Drivers and Restraints:
With the return on investment being significant, this form of advertising is being invested upon by the big organizations. Especially, the tourism industry is using this form to establish their prominence. One of the oldest forms of advertising, today, outdoor advertising demands creativity and connection. Therefore, major players are constantly evolving and innovating to attract customers attention. There are, stringent regulations related to what may or may not be advertised using this medium, and this can inhibit the growth of this sector. However, it cannot be denied that this form of advertisement is cost-effective and long lasting, and has a wider coverage, and will stay in the market for times to come.
Geographical Analysis of Outdoor Advertising Market:
Asia Pacific is known to be the largest region in the field of outdoor advertising in the forecasted period. High population, large transit displays, rising investments from retail sectors into outdoor advertising are all forms of market boosters for the Asia Pacific. The US also is a major contributor for this form of advertising across billboards and shelters. It has grown by 1.9% in 2018 alone and is bringing in revenues of USD 9 billion. The number of business firms in the US alone using this form of advertising are 13,103. It comes as no surprise that this form of advertising is no longer confined to a certain business form and is being used by all from retail to healthcare and hospitality to banking.
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Key Players of Outdoor Advertising Market:
Some strong players in this market are Outdoor Media, OutFront Media, Lamar advertising, Stroer, Clear Channel outdoor, J C Decaux Group, etc.
Outdoor Advertising Market Segmentation:
By Type:
- Billboards
- Street Furniture
- Transit Displays
By Application:
- Food & Beverage Industry
- Vehicles Industry
- Health and Medical Industry
- Commercial and Personal Services
- Consumer Goods
By Region:
- North America
- South America
- Europe
- Asia Pacific
- Middle East and Africa
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