Digital Out of Home Market– Introduction
Digital out of home (DOOH), also referred to as digital signage is a modern form of advertising that has effectively replaced traditional forms of advertising and marketing. Digital out of home advertising enables local vendors and advertisers to engage customers in real time, and track and monitor the effectiveness of their marketing messages. DOOH is a rapidly growing and dynamically-served visual mode of advertising directed towards target audience when they are outdoors, in-transit, or are waiting at commercial venues.
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Digital out of home advertising creates a deep level of engagement with on-the-go customers while they perform their everyday activities. There has been a substantial growth in the adoption of DOOH as a dynamic media that is distributed across place based networks at various locations, including restaurants, gas stations, and colleges. DOOH products encompass a wide range of screen shapes, sizes, and levels of interactivity. Growing customer mobility is boosting the visibility of outdoor media, thereby contributing significantly to the growth of DOOH market.
Digital Out of Home Market– Competitive Landscape
- In May 2019, Life Fitness launched an innovative digital out-of-home advertising platform named Life Fitness Media, which is the company’s first venture in creating an innovative digital advertising platform. Life Fitness Media leverages the company’s large installed base of cardio equipment to effectively deliver unique forms of content to fitness- and wellness-minded consumers who work out on Life Fitness equipment.
- In April 2019, the leading digital out-of-home marketing platform, Broadsign announced that the company has entered into an agreement to acquire an advertising technology and operations software company, Ayuda Media Systems. The transaction is likely to close in the second quarter of 2019.
BroadSign International, LLC
Founded in 2004 and established in Montreal, Canada, the company develops cloud-based software for digital out-of-home (DOOH) & digital signage industries. The company offerings include BroadSign Core CMS, BroadSign Serv SSP, and BroadSign Serv Direct. BroadSign International, LLC serves various verticals, such as gas stations, retail, transit, banking, healthcare, and hospitality.
Founded in 1964, and headquartered in France, the company provides wide range of advertising solutions and outdoor communication services, including transport system displays, digital panels, billboards, media planning, and street furniture.
Clear Channel Outdoor Holdings, Inc.
Incorporated in 1995 & based in San Antonio, Texas, Clear Channel Outdoor Holdings, Inc. is an outdoor advertising company that owns and operates advertising display faces in the United States and beyond. The company operates across two segments, Americas Outdoor Advertising and International Outdoor Advertising.
Lamar Advertising Company
Established in 1902, and headquartered in Baton Rouge, Louisiana, Lamar Advertising Company is an outdoor advertising company which operates through transit displays, billboards, and logo signs in the United States and Canada.
Founded in 1968 and headquartered in Brookings, South Dakota, the company manufactures, designs, and sells a wide range of electronic display systems & related products worldwide. The company operates through various segments, including transportation, commercial, and live events.
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Digital Out of Home Market Dynamics
DOOH as an Advertising Medium Gaining Traction, Stakeholders Expect Growth
As an advertising medium, digital out of home products are giving advertisers a lucrative opportunity to reach wider audiences and implement high-impact campaigns. Unlike other kinds of digital advertising, digital out of home advertising suffers from no ad blockers and no click fraud, which is helping it gain traction. Furthermore, rapidly advancing technology is allowing digital out of home companies to offer precise audience measurement and impression analytics in their offerings. These factors are likely to drive the growth in digital out of home market in the forthcoming years.
Rapid Digitization & Falling Traction for Traditional Billboard Fueling Growth in DOOH Market
Rapid digitization is accelerating the growth of DOOH market by offering increased freedom to companies to reach wider audiences and by enabling display of numerous ads of different brands on a single display screen. As a result, digitization has driven the adoption of digital out of home in commercial, infrastructural, and institutional verticals.
Fragmented Media Making Effectiveness of DOOH Advertising Crucial for Brand Marketers
With companies struggling to reach today’s consumer in the fragmented media landscape, the effectiveness of digital out of home advertising has become more important to brand marketers. Marketing companies are increasingly considering a variety of digital marketing avenues that can be used alongside a digital out of home campaign to extend the reach and impact of their campaign. This in turn is propelling market players to incorporate innovation to deliver high-precision digital out of home advertising and marketing offerings that enable brands to build powerful interactions with target audience.
Digital Out of Home Market – Segmentation
Based on product, the DOOH market is segmented into:
- Street Furniture
Based on application, the DOOH market is segmented into:
Based on vertical, the DOOH market is segmented into:
- Corporate and Government
- Banking, Financial Services and Insurance (BFSI)
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