GIA announces the release of a comprehensive global report on Outdoor Advertising market. World Outdoor Advertising market is forecast to reach US$43.8 billion by the year 2017. Following reductions in advertising spends as a knee-jerk reaction to the economic shock, companies are now beginning to re-inject financial resources in advertising and marketing as is evident by the market’s already emerging signs of recovery. With companies focused on squeezing the maximum mileage out of their advertising spends, outdoor advertising stands to gain in comparison with traditional print and broadcast media.
With the corporate landscape fast changing into brandscape, branding and marketing efforts are expected to witness vibrant activity in the upcoming years with advertising emerging into a major beneficiary of the trend. Advertising today takes place in an ever-changing landscape requiring marketing companies to continuously sharpen their marketing skills and techniques and outdoor advertising is no exception. Innovation ranks as the key for success with advertising companies moving beyond traditional outdoor advertising. Developments in billboards like large-format vertical signs, unique redesigned signs, intricately architectured street furniture for maximum impact and lately digital signage, are helping infuse vigor into the market.
Dynamically changing outdoor digital signs that change in accordance to audience moods will help take the industry to higher grounds in terms of the impact on viewer attention and recall. Currently in development are face-tracking software enabled billboards integrated with cameras that accurately measure the state of mind of passing consumers to identify the appropriate display of ad type for maximum impact. For instance, gloomy looking passersby can be targeted with tourism ads, such as, sun-drenched beaches and/or ads for relaxation/comfort foods such as, chocolates. While the nature of outdoor advertising enables communication of the message to the general public, the use of specific rather than generic terminologies will reinforce a one-to-one communication medium, thus providing dual edged benefits to the concept of outdoor advertising.
Advertising spends typically correlate to a company’s sales patterns with decline in sales and profits eliciting a decline in advertising expenditures and vice versa. The outdoor advertising market flattened out during the years 2008 and 2009. The recession derailed growth in outdoor advertising with crumbling consumer/business confidence and frugal spending patterns reducing the response rates of ads thereby impacting revenues generated by the industry. Decline in outdoor advertising demand was more severe in financial services, automotive, communications and real estate sector. Segment wise, street furniture such as bus sides and shelters formats were more protected and cushioned in comparison to the granddaddy of outdoor advertising, billboard advertising. Despite the indications made by research studies that maintenance of an aggressive marketing posture even during recession is vital for a company’s growth and brand equity post recession, only large financially strong companies with the financial muscle to fund ad budgets in tough economic conditions actually retain their advertising agendas. Although recovering, spending on advertising remains challenged by changing base strategies adopted by companies to maximize returns on dollars invested. Cost effective advertising and a shift towards cheaper, low cost, yet efficient advertising strategies and services will therefore emerge to the forefront in the upcoming years.
As stated by the new market research report, Europe and United States accounts for a major share of the global Outdoor Advertising market. By segment, Billboards is the largest contributor to global market revenues. Oversized digital and static billboards tend to dominate the landscape attracting the desired levels of audience attention. The increased effectiveness of the ads displayed on large billboards including wall-sized displays is driving demand for oversized billboards, especially digital billboards. Global market revenues for Transit Outdoor Advertising are expected to surge at a fastest CAGR of 9.1% over the analysis period.
Major players in the global marketplace include Adams Outdoor Advertising, AdSpace Networks Inc, Affichage Holding SA, APN Outdoor, Burkhart Advertising Inc, Captivate Network, Clear Channel Outdoor Inc, Clear Media Limited, CBS Corporation, Daktronics Inc, DDI Signs, EPAMEDIA, EuroMedia Group SA, Fairway Outdoor Advertising LLC, JCDecaux Group, Lamar Advertising Company, MarketForward, Primedia Outdoor Pty Ltd, PRN Corporation, Stroer Out-of-Home Media AG, Van Wagner Communications, Zoom Media Inc., among others.
The research report titled “Outdoor Advertising: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections (US$ Millions) for major geographic markets including the United States, Canada, Japan, Europe (Austria, Belgium, France, Germany, Greece, Hungary, Ireland, Italy, Netherlands, Norway, Poland, Portugal, Spain, Sweden, Switzerland, Turkey, UK, Russia and Rest of Europe), Asia-Pacific (Australia, China, Hong Kong, India, Indonesia, Malaysia, New Zealand, Philippines, Singapore, South Korea and Thailand), Middle East & Africa (Israel, Kuwait, South Africa, Turkey and UAE), and Latin America (Argentina, Brazil, Chile, Peru and Venezuela). The market is analyzed by the following Mode/Formats – Billboards, Transit, Street Furniture and Alternate & Other Outdoor Advertising Forms.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Outdoor_Advertising_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world’s largest and reputed market research firms.
Global Industry Analysts, Inc.
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Source: Global Industry Analysts