Digital OOH Market To Grow To $26.21 Billion By 2023
A new report MarketsandMarkets has revealed that the digital out of home (OOH) market is set to be worth $26.21 billion by the year 2023, climbing from $12.52 billion in 2016.
Commercial vertical is expected to hold the biggest market share by 2023, in large part because of the rise in demand for such systems in commercial applications, as well as improvements in infrastructure expansions and available technology, Digital Journal reports.
Indoor applications are also expected to increase at the highest compound annual growth rate (CAGR) during the forecast period. Because of high customer interaction in areas like healthcare, hospitality and retail, content will need to be managed and changed regularly. There is also a rise in demand among people for LED and LCD displays.
Interestingly – and perhaps unsurprisingly – print campaigns have minimised as digital OOH screens are now being targeted using interactive content to make messages more attractive.
The market in the Asia-Pacific region is predicted to grow at the highest CAGR for the period, driven by developments in construction, public infrastructure, transportation and communication. However, North America is still expected to retain the largest market share between 2017 and 2023.
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