Out-of-Home (OOH) is an advertising form that can be found outside the home. These advertisements usually consist of hoardings, banners, flexes, and billboards. Such advertising connects the brand with its potential customers and results in higher product or service sales. It helps the brands save time and money and generate high consumer leads. Many famous brands, such as McDonald’s, Coca-Cola, and Apple, use this form of advertising in their marketing campaigns.
The global market share of out-of-home is expected to grow remarkably in the next several years, driven by expanding use-cases in the advertising sector. The digital industry is also anticipated to present lucrative opportunities for brands considering the wide application of the product in advertising agencies.
According to a research study by Business Research Insights, the global market for out-of-home is projected to rise at a CAGR of 8.05% during 2022-2025. In 2019, the market value stood at USD 17,770 million.
Business Research Insights Presents the Top 10 Prominent Out-of-Home Players
1. oOh!media
oOh!media is an Australia-based company founded in 1989. It is a leading company and is listed as one of Australia’s largest operators in OOH advertising. The company has more than 37,000 static and digital asset locations such as roadsides, airports, train stations, cafes, office towers, universities, bars, and other places. The company employs around 800 people across New Zealand and Australia.
2. Ströer SE & Co. KGaA
Ströer SE & Co. KGaA was founded in 1990 and is located in Cologne, Germany. It is a German stalwart specializing in out-of-home advertising, which includes online advertising, street furniture, and billboards. The company advanced its OOH advertising and operates over 300,000 advertising sites in the outdoor segment. Ströer SE & Co. KGaA is expected to have around 6,000 digital advertising sites on railway stations, subways, shopping centers, and streets coupled with the suburban railway stations in major cities of Germany.
3. JCDecaux
JCDecaux was founded in 1964 and is located in Neuilly-sur-seine, France. The company is one of the largest outdoor advertising agencies in the world and is well-known for its bus-stop advertising systems, public bicycle rental systems, and billboards. The company is spread in over 80 countries and employs over 10,000 people.
4. Broadsign International, LLC
Broadsign International, LLC is a leading Montreal-based company in OOH marketing. It is located in Canada and provides content management, programmatic distribution, network operations, and direct sales. It lightens up approximately 130,000 displays in various venues such as street corners, health clinics, airports, and shopping malls.
5. OUTFRONT Media
Founded in 1938, OUTFRONT Media is New-York based and was founded in 1938. It has been listed as one of the largest outdoor media companies in the world. The company was named on Newsweek’s America’s Most Responsible Companies 2021. The company has over 500,000 displays and is ready to boost its product portfolio in the coming years.
In December 2021, the company acquired out-of-home assets from Grand Rapids, a city in Michigan.
6. Sharp NEC Display Solutions (formerly NEC Display Solutions)
Sharp NEC Display Solutions (formerly NEC Display Solutions) is a Japan-based company that was established in 2000 and has approximately 950 employees. The company offers display products and sells items to consumers, professionals, digital signage, and businesses. This company develops, manufactures, and sells visual display solutions and products.
Significant Challenges Posed by COVID-19 Pandemic
Out-of-home advertising and marketing were efficient because the population mostly kept visiting places such as gyms, movies, malls, health centers, and others before the pandemic. The coronavirus outbreak reversed the situation, and the population was not allowed to step outside the home due to several governments’ stringent rules and regulations against COVID-19. Brands adopted digital marketing and advertising to promote their products and services instead of OOH advertising due to declined outdoor platforms.
Upcoming Trend: Companies to Shift Toward Digital Advertising
The inclination of people toward digital devices and higher usage of the internet among the population are anticipated to foster the market growth of digital OOH. The popularity of digital platforms and devices is expected to gain traction in the market. Technological advancements, such as Artificial Intelligence (AI) and the Internet of Things (IoT), are likely to encourage brands to shift their medium from conventional to digital to gain more customers in the market.
Companies are expected to shift toward digital OOH due to the steady adoption of technological advancements and expanding market of digital advertising. Digital OOH is expected to boost due to the rapid adoption of digital mediums and mobile-based networks among the population.