According to the research report titled ‘Global Outdoor Advertising Market Size study, by Type (Billboards, Street Furniture, Transit Displays), by Application (Food & Beverage Industry, Vehicles Industry, Health and Medical Industry, Commercial and Personal Services, Consumer Goods) and Regional Forecasts 2020-2027‘, available with Market Study Report, global outdoor advertising market was valued at USD 43.1 billion in 2019 and is anticipated to register a y-o-y growth rate of 5% during 2020-2027.
 

Increasing marketing expenditure and deployment of outdoor advertisements along with surging popularity of digital billboards in developing and developed economies are propelling the growth of global outdoor advertising market.
 

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Outdoor advertising also known as out-of-home advertising focuses on marketing goods & services at places such as waiting areas, public places, in transits, and commercial locations. This advertising format is available in six categories that includes street furniture, billboards, roads, highways, transit displays, and alternative. The format is very efficient in creating brand awareness and broadcasting the business among the masses. Outdoor advertising provides extreme flexibility to marketers and advertisers in the campaign, thereby driving the market outlook.
 

On the downside, growing prevalence of COVID-19 has restricted the movement of people due to the lockdown imposed by the governments to contain the spread of virus leading to decline in demand for outdoor advertisement. Also, strict federal rules on outdoor advertisement installation is another factor restraining the market growth.
 

Based on product type, global outdoor advertising market is segmented into street furniture, billboards, and transit displays. With reference to applications spectrum, the industry is divided into health & medical industry, commercial & personal services, food & beverage industry, vehicles industry, and consumer goods.
 

As per regional overview, global outdoor advertising market is segmented into Latin America, Asia Pacific, North America, Europe, and rest of the world. Asia-Pacific market contributed significantly towards overall revenue share and is expected to witness strong growth rate during 2020-2017. The growth is attributed to rising adoption of digital outdoor advertising service and ongoing smart cities projects in the region.
 

Key players operating in global outdoor advertising market include Outfront Media Inc., JCDecaux, Global Advertisers Pvt. Ltd., Lamar Advertising Company, EPAMEDIA, Clear Channel Outdoor Holdings Inc., Adams Outdoor Advertising, Bell media, QMS Media Limited, and Daktronics Inc.