Global $35 Billion Digital Out-of-Home (OOH) Market to 2027: Eco-Friendly Designs, Sleeker Hardware & Smarter Software Proliferate DOOH Domain
DUBLIN, July 19, 2021 /PRNewswire/ -- The "Digital OOH - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Digital OOH Market to Reach US$35.1 Billion by the Year 2027
Global market for Digital OOH estimated at US$18.8 Billion in the year 2020, is projected to reach a revised size of US$35.1 Billion by 2027, growing at a CAGR of 9.3% over the analysis period 2020-2027.
Billboard, one of the segments analyzed in the report, is projected to grow at a 10% CAGR to reach US$17.2 Billion by the end of the analysis period.
After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Transit segment is readjusted to a revised 9.1% CAGR for the next 7-year period. This segment currently accounts for a 25.7% share of the global Digital OOH market.
The U.S. Accounts for Over 29.6% of Global Market Size in 2020, While China is Forecast to Grow at a 8.7% CAGR for the Period of 2020-2027
The Digital OOH market in the U.S. is estimated at US$5.6 Billion in the year 2020. The country currently accounts for a 29.64% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$6.1 Billion in the year 2027 trailing a CAGR of 8.7% through 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.6% and 7.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 7.6% CAGR while Rest of European market (as defined in the study) will reach US$6.1 Billion by the year 2027.
Street Furniture Segment Corners a 19.9% Share in 2020
In the global Street Furniture segment, USA, Canada, Japan, China and Europe will drive the 8.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$3 Billion in the year 2020 will reach a projected size of US$5.3 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, ad South Korea, the market in Asia-Pacific is forecast to reach US$4.1 Billion by the year 2027.
Key Topics Covered:
III. MARKET ANALYSIS
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Research and Markets
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SOURCE Research and Markets