Out-of-Home (OOH) advertising or outdoor advertising, alsoknown as Out-of-Home media or outdoor media, isadvertising that reaches consumers whilethey are outside their homes. This includes Billboards, Street Furniture, Transit Modes, Shopping Malls, Other Public Places like Petrol Pumps, Airports etc.
OOH is more than $ 30 Billion Market today. OOH growth rate is stable over the years with 3% Annual Growth Forecast in coming 2 years. There has been a drastic jump in Digital Media market, which resulted in more than 5% growth rate in "All Media" market. Recession during 2008-2009 caused low spends in OOH Advertisements.
Segments of Out-of-Home (OOH) Advertisement
Segments of Out-of-Home (OOH) AdvertisementBillboards takes the lead with 45% market share. However, it varies country to country e.g. in India, there is 65% of the OOH Market which is being captured by Billboards. Second top segment in Global Market is Street Furniture with 31% of market share. There is wide scope of expansion in Transit & Street Furniture.
Another dimension of OOH is DOOH, i.e. Digital Out-of-Home Media. DOOH is part of every single segment listed in here. Currently DOOH represents on an average of 10% OOH market which is drastically increasing with the help of high end technologies including Artificial Intelligence.
World's Top 6 Players in OOH Advertisement Industry
Clear Channel outdoor is the oldest outdoor advertising company in US. They covers everything that can be considered Outdoor Advertising; including Billboards, Bus Shelters, Subways, Transit Vehicles, Street Furniture, Posters & Airports. Further, Clear Channel is also the fastest growing digital outdoor network worth more than 1200 displays at the moment. Recently they partnered with NASA and Soft Signs 3D to make a 3D Billboard with a 3D Rocket on it; taking Creativity at another level.Focus Media is largest Outdoor Advertising company in China and covers maximum market in its own country. It also consists majority of Digital Signages & Digital Media. They specialises in Digital & Interactive Screens as well as Static. They also covers Movie Theatre Advertising.
Apart from the Top 3 giants above, Lamar has the largest Digital Billboards network worth of more than 3300 Displays across US. Lamar also developed an innovative technology for Chevrolet to grab the attention on its mid sized vehicle. The billboard was equipped with technology that identified specific competitors car brands at 1000 ft and delivered personalised messages to its drivers.
Top 6 OOH players altogether controls over 60% to 80% market share in almost all the major economies. Being a large, developing, diversified & fragmented market, Top 6 players could capture only 24% market in India.
World's Top 15 Markets in OOH Advertisement Industry With DOOH Market Share
It is surprising that United States, Japan, France & Germany kind of well developed Countries are technologically behind China & UK when it comes to DOOH. China being 3rd Largest Market for OOH with $ 5,414 Mn; covers 22% of Digital OOH market which is almost 10% more than US & Japan. UK & Australia are less than $ 1000 Mn markets but it includes more than 30% Digital OOH Market; making them most technologically advanced.
On the other side; India is 5th largest Economy today. However; it stands last in World's Top 15 OOH Markets Chart with OOH Market worth only $ 512 Mn including only 2% Digital OOH. There is huge scope of OOH & DOOH Advertisements in this diversified market.
