The Digital Out Of Home (DOOH) market in the advertising industry has increased its share exceptionally within a fair bit of time. Beyond society’s shift towards digital, consumer behavior and trends have also shifted theatrically, propelling the out-of-home (OOH) advertising market ahead of the times with powerful technologies to have essential analytics, real-life advertisements, and real-time updates.
Factually, Digital out-of-home (DOOH) advertising expenditure is estimated to hold for more than a third of the overall OOH advertising market by 2025, according to recent global research commissioned by ALFI, a powerful AI enterprise SaaS advertising platform. Research shows that the global market for DOOH – predicted at $18.8 billion in the year 2020 – is now proposed to reach the amended size of $35.1 billion by 2027, growing at a CAGR of 9.3% over the analysis period 2020-2027.
Why are advertisers so interested to invest in digital out-of-home solutions?
As it offers innovative and creative options for delivering the right content to right audience at right time. Now before we delve into the findings of the research, let’s cover why DOOH advertising is so prevailing.
Digital Out-of-Home Advertising: Fast, Effective, and Affordable!
Along with the websites’ cookies, major tech companies dramatically adapting options to track consumer activities. Corporates that depend greatly on programmatic marketing methods are explored substitutes for audience targeting and behavioral tracking.
Digital OOH advertising combines traditional OOH advertising with state-of-the-art technology that allows for better targeting and tracking in real-time with more accurate reports and analytics.
Just how successful DOOH advertising is going to be?
According to the OAAA, OOH, advertising revenue jumped 38% in the second quarter of 2021 compared to the previous year, accounting for a whopping $2 billion. Digital OOH advertising is leading the overall OOH market, and the segment’s revenue increased by almost 80% when compared to the second quarter of 2020. DOOH is about 57% of the overall media spend at $128.4 billion.