Portland, OR -- (SBWire) -- 06/26/2018 --The features of DOOH advertisement, such as cost effectiveness, creative approach, real-time user engagement, and procurement of large prospective customers drive its demand in the global market. The different customized solutions by the vendors increase their usability across various end users such as commercial infrastructure, airports, bus stops & subways, and others.

The Global Digital-Out-Of-Home Market was valued at $ 3,639.30 million in 2016, and is projected to reach at $ 8,393.30 million by 2023, growing at a CAGR of 12.60% from 2017 to 2023. Digital-out-of-home (DOOH) is a modern form of advertising that uses digital media for endorsing audio and video messages related to product or services outside the home.

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Digital-Out-Of-Home (DOOH) Market Overview:

Digital-out-of-home is digital mode of advertisement. This is used to target large audience across various locations such as airports, subways, bus stops, commercial buildings and others. DOOH advertising increases brand recognition through large audience engagement in real-time.

In 2016, billboard segment dominated the market, in terms of revenue, due to increase in investment on huge investment on digital advertisements into various public places across various developed and developing nations.

Europe was the highest revenue contributor to the global DOOH market in 2016, accounting for around 38.76% share, owing to surge in demand of digital signage across various industry verticals including healthcare, financial services, government, and others.

Reduced Cost of Digital Screen

The fall in the prices of LED & LCD display technology and increase in the development of programmatic market have led to rapid expansion of DOOH market. The factors, such as cost-effectiveness and attainment of large audiences, drive the demand for digital-out-of-homes in the market.

Rapid Digitization and Decrease in Demand for Traditional Billboard

Digitization increases the growth of DOOH market as its removes the hurdle of limited reach of the audiences and displays multiple advertisements of different companies in a single screen. Thus, digitization has enhanced the usage of DOOH in the global market.

Key Findings of the DOOH Market:

The billboard segment accounted for the highest share in 2016, growing at a CAGR of 12.80% from 2017 to 2023. Outdoor segment generated the highest revenue, accounting for $2,316.90 million in 2016. Europe is expected to dominate the market, in terms of market share of 32.7%, during the forecast period.

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Key Players:

The report features a competitive scenario of the global DOOH market and provides a comprehensive analysis of the key growth strategies adopted by major players. The key players profiled in the report include JCDecaux, Clear Channel Outdoor Holdings Inc., Lama Advertising Company, OUTFRONT Media, Daktronics, Prismview LLC NEC Display Solutions Ltd., Oohmedia! Ltd., Broadsign International LLC, and Aoto Electronics Co. These players have adopted competitive strategies, such as innovation, new product development, and market expansion, to boost the growth of the market.