In today's digitally driven world, the advertising landscape is constantly evolving. One of the most significant shifts in recent years has been the rise of Digital Out-of-Home (DOOH) advertising. Unlike traditional static billboards, DOOH offers dynamic, interactive, and highly engaging content that captivates audiences and drives sales growth.
Future Outlook
The Digital Out-of-Home (DOOH) global market is set for substantial growth, with projections indicating a value of US$ 58.67 billion by 2030, boasting a robust CAGR of 11.6% from 2023 to 2030, as per Contrive Datum Insights.
Meanwhile, India's Digital OOH Advertising Market is expected to hit US$ 3.2 billion by 2027, sporting an impressive industry CAGR of 14.7%, according to IMARC Group data.
Outdoor advertising holds significant sway in engaging target audiences, especially considering that individuals spend about 70% of their waking hours away from home. This increased exposure to outdoor ads is reflected in consumer behavior, with 34% reporting making purchases influenced by such ads (US survey report). This data underscores the effectiveness of outdoor advertising as a potent driver of sales.
Conclusion
These projections highlight the growing importance of DOOH and outdoor advertising in capturing consumer attention and driving business outcomes. As technology evolves, businesses are presented with innovative opportunities to leverage these mediums for impactful marketing campaigns.
In India, Sygnify leads the charge, pioneering the utilization of emerging AI technologies and holistic strategies in DOOH advertising. By being years ahead of the incumbents, we empower advertisers to unlock the full potential of this dynamic landscape, forging deeper connections with consumers and driving meaningful business outcomes.
References
GlobeNewswire. “Digital out-of-home (DOOH) Market is projected to Reach US$ 58.67 Billion by 2030, at a CAGR of 11.6% during the forecast period 2023-2030.” Link
The Drum. “Top 4 reasons brands should incorporate OOH into their 2023 advertising strategy.” Link
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