Driven by the growing popularity of out-of-home lifestyles as well as technology advancements leading to innovations in signage, the world market for outdoor advertising is projected to reach $30.4 billon by 2010, according to a recent report.
While major, and mature, markets such as the Europe, United States and Japan slow down, emerging markets like Asia-Pacific, and Middle East & Africa are expected to help drive the market, with a growth potential of 12%, and 10% respectively, according to Global Industry Analysts, Inc.Â (via MediaBuyerPlanner)
Other data from the report titled “Outdoor Advertising: A Global Strategic Business Report”:
- World billboard advertising market, the largest mode of outdoor advertising, is expected to increase by $2.85 billion from 2007 to 2010.
- Europe dominates the billboard market with a 31% share, while Asia-Pacific turbo-charges global growth with a compound annual growth rate (CAGR) of 12.3% for the forecast period.
- Transit advertising is the fastest-growing mode of outdoor advertising and is expected to reach $7.14 billion by 2010.
- Street furniture advertising market in Middle East & Africa is expected to reach $64.05 million in 2010.
- By region, the world outdoor advertising market is dominated by Europe, in part because of the highly lucrative Russian market, which is forecast to grow at a robust double-digit CAGR of 30.2% over the analysis period.
- Outdoor advertising expenditures in the two other fast-growing European markets, Hungary and Norway, together are expected to rise by $119.9 million from 2007 to 2010.
- In Asia-Pacific, unbridled growth is forecast in Indonesia, Thailand and China: Together, these regional markets are expected to corner close to 65% of the total expenditures on outdoor advertising in Asia by 2010.
- In the Middle East, UAE and Turkey are expected to generate the highest growth, with expenditures in these markets, together, projected to reach $214.03 million by 2010.
Leading global and regional players operating in the industry include Clear Channel Outdoor, JCDecaux Group, CBS Outdoor, Lamar Advertising Company, Titan Outdoor Limited, Van Wagner Communications, Planar Control Room and Digital Signage, EPAMEDIA, MarketForward, Omnivex Corporation, Primedia Outdoor Pty Ltd., and Clear Media Limited, according to Global Industry Analysts, Inc.
About the report: “Outdoor Advertising: A Global Strategic Business Report” provides a review of media technology trends, advertising practices, market drivers, issues, and challenges. Modes of outdoor advertising analyzed in the report include Billboards, Transit, Street Furniture, and Alternate forms. Latent demand patterns in all market segments are quantified across major geographic markets.