Digital Out of Home or Digital OOH refers to various digital displays/panels used in billboards, transit, street furniture, and place-based advertising. Digital OOH solutions are extremely effective and affordable communication medium used by businesses worldwide to attract and engage a wider audience. These solutions are typically divided into two categories, namely large-format displays and digital place-based media. As an advertising medium, digital OOH solutions allow advertisers to reach a broader audience with high-impact campaigns in comparison to traditional out of home advertising medium. The use of digital-out-of-home advertising is growing exponentially from past few years, and it has created a new set of diversified lifestyle touch points. The advent of mobile-driven audience data is allowing companies to track their audience in real-time accurately and this is further helping in the growth of digital OOH market worldwide.
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Replacement of Traditional Billboards with Digital Billboards
Rising internet penetration and surge in smartphone usage, the pattern of information retention and consumption has changed radically. Today, consumers have access to numerous modes, but they are more attracted to digital channels as they provide information on a real-time basis and they are more engaging. Whereas traditional modes are struggling to provide and adopt similar offerings to the consumer, digital modes are more accessible in generating a larger scope for highly developed conversations with consumers.
A digital billboard is an effective form of advertisement which reaches people through an interactive way. For instance, digital billboards that actuate based on weather changes can optimize in real time. Many companies are investing in digital billboards. For instance, in the year 2018, Reddit Inc. invests in a digital billboard company called AdQuick, Inc. In the same year, Netflix had purchased assets from a leading billboard company in Los Angeles. Digital billboards can enable data transfer to mobile devices with near-field communication technology. Advertisements in terms of videos, apps, and audio can be transferred from these billboards to the consumer’s smartphone directly. All these above factors and a swift decline in the use of static billboards has driven the growth of digital billboards globally as they are more innovative.
Strategic Insights:
The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.
2019: Broadsign International, Inc., a prominent provider of digital out-of-home marketing platform, agreed to acquire Ayuda, and the transaction is anticipated to close in the second quarter of 2019.
2018: Lamar Advertising Company announced the acquisition of Fairway Outdoor Advertising’s billboard operations in five U.S. markets from GTCR, LLC for a purchase price of $418.5 million. This all cash acquisition added more than 8,500 billboard faces, including more than 135 digital displays, in North Carolina, South Carolina, Georgia, and Wisconsin.
2018: JCDecaux SA announced the acquisition of APN Outdoor as the scheme of arrangement between APN Outdoor and its shareholders was approved by APN Outdoor shareholders.
The Global Digital Out of Home Market has been Segmented as Follows:
Digital Out of Home Market – by Type
- Billboards
- Transit
- Street Furniture
- Place-Based
Digital Out of Home Market – by End User
- Automotive
- Retail
- Consumer Products
- BFSI
- Telecom
- Others
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