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Digital Out of Home Market in North America Region is Excepted to Hold Largest Industry Share by 2024

Author : Ronak Bora | Published Date : 2019-04-11 

The qualitative research study introduced by Global Market Insights, Inc. on Digital Out of Home Market Report provides primary Data, surveys, Scope of the Product and vendor briefings. The market dynamic forces have been determined after conducting a detailed study of the industry.

North America holds the largest share in the digital out of home market due to its highly stable economy and fast adoption of latest advanced technologies. Rising demand for efficiency and accuracy in the retail domain coupled with the changing lifestyle of individuals in urban areas is driving the regional demand. Moreover, Asia Pacific is anticipated to witness the fastest growth in the digital out of home market over the forecast timespan. It can be attributed to its increased adoption in the financial services & insurance, banking, transport, entertainment, and retail sectors.

Growing utilization of commercial displays in the advertising sector is projected to fuel the digital out of home market growth. The growth can be accredited to the availability of relatively low cost of digital displays. Increasing adoption of VR and AR, cloud-based platform coupled with the growing demand for IoT is anticipated to provide significant opportunities to the industry. Furthermore, the integration of DOOH with VR and AR is helping companies to enhance the interactivity and reach of their campaigns.

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Based on application, the digital out of home market is classified into indoor and outdoor. The indoor segment is projected to witness growth over the forecast timespan. With rising consumer demand for enhanced displays and viewing experience in areas such as healthcare, hospitality and retail, a sharp increase in the demand for these displays in indoor environments is witnessed. The low ambient light in indoor environments and the increasing usage of media players and projectors further enhances the high resolution of these displays.

The digital out of home market based on product can be segmented into billboards, street furniture, and transit. The billboards segment is projected to dominate the market owing to big advertising companies with huge marketing budgets investing in billboards to attract consumer attention. With the technological advancements followed by gradually declining prices of digital screens, digital billboards are gaining popularity across the globe. Billboards installed on roads, bridges, bus stops, and the sides of buildings ensure enhanced customer engagement, which is anticipated to fuel the digital out of home market growth.

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Key players in the digital out of home market include NEC Display Solutions Ltd, Christie Digital Systems USA Inc., Scala, Broadsign International LLC, Aoto Electronics Co. Ltd, Mvix Inc., Deepsky Corporation Ltd., Daktronics, Clear Channel Outdoor Holdings Inc and Lamar Advertising Company.  The industry is currently witnessing intensive competition due to the presence of large number of players.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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