DOOH market worth $26.49bn by 2025 – report
The worldwide digital-out-of-home (DOOH) market could be worth as much as $26.49bn (£18.85bn) by the end of 2025, according to a new study.
Tuesday, 20 Oct 2020 09:45 GMT
The value of the market is expected to increase 77.3% between the end of 2018 and 2025
Published by market intelligence company InForGrowth, the report valued the global industry at $14.94bn at the end of 2018, with this expected to increase by around 77.3% over the seven years in between.
In terms of compound annual growth rate (CAGR) for the period, this is expected to be at 8.52% each year between 2018 and 2025.
InForGrowth says that the primary reason behind this forecast growth is due to the development of new solutions within the market, as well as an increase in demand for DOOH solutions.
The report also picks out some of the players in the DOOH, including the likes of Clear Channel, Daktronics, JCDecaux, Lamar Advertising Company, Outfront Media, Broadsign, Christie Digital Systems, NEC Display Solutions, Prismview and Stroer SE & Co.
DOOH signage has significantly increased in both popularity and usage in recent years, with marketers and brands turning to the medium as a way of connecting with consumers in a highly competitive market.
It is not yet clear what sort of an impact the novel coronavirus (Covid-19) crisis will have on the development of the market, but early indications suggest that DOOH and digital signage as a whole will continue to see growth.
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