Introduction
Outdoor advertising is a powerful medium for communicating with your customers and potential customers. Billboard advertising can help make your business stand out from the crowd, get noticed easily by your target audience, and drive sales. Outdoor advertising has been used for decades as a way to reach customers in places where they have limited control over the environment, such as when driving down the highway or while walking through shopping malls. The outdoor advertising market is expected to grow at an impressive CAGR of 11.3% during the forecast period (2021-2022).
Executive Summary
This report summarizes the key findings and recommendations from a comprehensive analysis of the billboard and outdoor advertising market. The study analyzes the global industry through extensive use of secondary sources, such as trade journals, directories, and databases (e.g., Factiva).
The report provides an overview of the market, including definitions, classifications, applications and industry chain structure. The market analysis includes major regions' development status, trends and competitive landscape analysis as well as development policies and plans for these regions. A thorough analysis on industry dynamics (drivers, opportunities) helps deliver insight into future growth areas within this market segment
Overview and Dynamics
The Billboard and Outdoor Advertising market is expected to grow at a CAGR of 11.6% during the forecast period. The market has been segmented on the basis of product type, application, and geography. The market has been further segmented by country with respect to its size & share in terms of revenue contribution from various regions across the globe.
The key players in this industry are Clear Channel International (U.S.), CBS Outdoor (U.S.), JCDecaux SA (France), Lamar Advertising Co (U.S.), Outfront Media Inc.(US) etc., who are focusing on investing heavily towards innovation through research & development activities aimed at enhancing their product offerings as well as improving customer experience across all touchpoints including online presence through mobile apps or web portals etc.,
Market Segmentation and Insights
The market has been segmented into four categories: product, end user, region and country. The product segment includes digital billboards and static billboards. The end-user segment includes corporate advertising and leisure advertising. The regional breakdown of the billboard advertising market is North America, Europe, Asia Pacific and Rest of the World (RoW).
Competitive Landscape
The billboard and outdoor advertising market is highly competitive, with many established companies competing for market share. The top five players account for more than 70% of the overall revenue in this segment.
Outfront Media Inc., headquartered in New York City, USA, is one of the leading players in this segment globally and has been serving customers since 1909. It offers various types of media solutions including billboards, transit displays and digital solutions across US & Canada regions through its network of over 9200 sites under four brands Outfront Media; Lamar Advertising Company; Clear Channel Outdoor Americas Inc.; Van Wagner Communications Corporation which operates under brand names like JCDecaux USA (Outdoor).
CBS Outdoor Americas Inc., headquartered at New York City USA provides services across North America region through its network comprising more than 50 000 displays across US & Canada with focus on large cities such as Los Angeles CA; Chicago IL; San Francisco CA etc.. The company was acquired by Reckson PLC in 2007 but later separated into two separate companies namely CBS Outdoor Americas Inc.; CBS Radio Inc..
Conclusion
In conclusion, we see that the Billboard and Outdoor Advertising Market is growing at a steady pace. There are many factors that contribute to this growth including increasing disposable income, rising population, urbanization and globalization. In addition, technological advancements in digital media will continue to influence the market as well.