LONDON, March 09, 2021 (GLOBE NEWSWIRE) -- Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
According to The Business Research Company’s research report on the OOH advertising market, out of home advertising market trends include the Storytelling concept becoming increasingly becoming popular as it boosts customer engagement.
Nowadays, consumers are overloaded with information. Storytelling allows the customers to interact directly with the story and builds self-association with the brand. Customers want to make purchases that they feel connected with, beyond the product or service itself. The concept also conveys awareness messages to important causes such as abuse, AIDS and poverty, which are difficult to talk about. Some storytelling OOH advertisements only tell a part of the story, making the audience wait for the next ad in the storyline. Storytelling improves retention and helps consumers recall events.
For example, in 2020, food and beverages company HUN Wines introduced a storytelling advertisement for its new products. Similarly, Emily Snacks adapted a storytelling outdoor advertising campaign.
Advertising agencies are rapidly shifting towards digitalization services. With the emergence of advanced technologies, advertising agencies are focusing on digitizing more OOH spaces that can cater to consumers’ needs. DOOH provides flexibility to add data feeds, relevant messaging, interactive and engaging brand information to audience with high accessibility and effectiveness. DOOH advertisements are widely used in the sports, retail, transportation, and hospitality industries. Major digital out of home advertising market service providers include Daktronics Inc., JCDecaux, and IPONWEB.
The Business Research Company’s report titled Out-of-Home Advertising Global Market Report 2021: COVID 19 Impact and Recovery to 2030 covers major out of home advertising companies, out of home advertising market share by company, OOH advertising market size, and OOH advertising market forecasts. The report also covers the global OOH advertising market and its segments.
Request For A Sample Of The Global Out-of-Home Advertising Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=3508&type=smp
The global out-of-home advertising market is expected to grow from $23.36 billion in 2020 to $25.78 billion in 2021 at a compound annual growth rate (CAGR) of 10.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The out of home advertising market size is expected to reach $33.54 billion in 2025 at a CAGR of 6.8%.
Growth in the historic period resulted from rapid economic growth in emerging markets, rise of globalization, and rapid technology development as per TBRC’s out of home advertising market report. Going forward, rising urbanization and growing digital out of home advertising will drive growth. Amidst the unprecedented outbreak of coronavirus, governments across the world are advising people to stay indoors and practice social distancing, to reduce the spread of the pandemic. Its impact has been seen on the global out-of-home advertising market.
Several industries, including travel, leisure, and entertainment have been hit severely by the COVID-19 pandemic. This forced the companies to limit their expenditures, including advertising expenditures. Thus, factors that could hinder the growth of the out-of-home advertising market in the future include high volatility in pricing of OOH advertising and the outbreak of COVID-19.
On the other hand, the top opportunities in the out-of-home advertising market segmented by type will arise in the street furniture segment, which will gain $4.72 billion of global annual sales by 2025. The top opportunities in the out-of-home advertising market segmented by platform will arise in the digital segment, which will gain $7.97 billion of global annual sales by 2025. The top opportunities in the out-of-home advertising market segmented by end-user industry will arise in the others segment, which will gain $4.59 billion of global annual sales by 2025.The out-of-home advertising market size will gain the most in the USA at $2.34 billion.
Out-of-Home Advertising Global Market Report 2021: COVID 19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, out of home advertising market segments and geographies, out of home advertising market trends, out of home advertising market drivers, restraints, out of home advertising market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market.
The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Here Is A List Of Similar Reports By The Business Research Company:
Billboard And Outdoor Advertising Global Market Report 2021: COVID-19 Impact and Recovery to 2030
Digital Advertising Global Market Report 2021: COVID-19 Impact and Recovery to 2030
Advertising Agencies Global Market Report 2021: COVID-19 Impact and Recovery to 2030
Print Advertising Global Market Report 2020-30: COVID-19 Growth And Change
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