(MENAFN- America News Hour) The Asia Pacific Digital-Out-of-Home (DOOH) Market is expected to register a CAGR of 18.14% over the forecast period. The Asia-Pacific has the largest population among all the regions. With a rise in the urban population and increased purchasing power, Asia-Pacific is considered one of the largest markets for the Digital OOH. The developed infrastructure of the region plays a significant role in the development of the Digital OOH market. Moreover, the region is dominated by various local players, like Shanghai Media Group and Times Internet, while significant players, like JCDecaux, also have considerable market share in this region. Brands using DOOH could utilize the benefits of digital display advertising such as data-driven targeting, measurement, and the flexibility to set creative mid-campaign based on performance and the assurance of viewability non-fraudulent traffic.
– In August 2019, Xaxis, the outcome media company, and GroupM's advanced programmatic arm, in partnership with Mediacom Malaysia, announced pioneering digital out-of-home (DOOH) campaign, which showcased real-time audience targeting and measurement capabilities for advertising.
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Key Market Trends
Transit is Expected to Hold Major Share
– The rising demand for digital content and information relevant to travelers has led to interactive ads through a different mode of advertisements, such as Kiosks, billboards, and Signboards, at the platform that accounts for a significant share of growth in transportation media revenues. Owing to this, there has been a shift in consumer behavior in terms of customer engagement across various modes of transportation, thereby strategically building the brands in the customer mindset. This is expected to drive potential customers against the traditional media over the next three years.
– Among various transit environments, airports have proven themselves to be ideal for advertising, particularly for top-tier and luxury brands. Airports are under constant pressure to figure out ways to generate more and more revenue. Converting static displays like posters to digital displays allows airports to utilize the same space to sell to multiple advertisers. That multiplies the amount of income exponentially. Airports can also share the cost burden of upgrading to new advertising technologies by bringing in advertising partners.
– In January 2020, Times OOH has formed a deal with Moving Walls to deliver audience data-driven, automated media buying to significant media sites across Metro stations and airports in India. The technology will be featured in 263 airport media in Mumbai, domestic and international terminals, Trichy, Coimbatore, Indore, and 207 media across Mumbai Metro. The inventory will be available on, Moving Walls' planning, Moving Audiences, and a buying solution built to address certain aspects of outdoor advertising while integrating into other digital media buying options. Transit OOH is among the fastest-growing advertising industries in India.
China is Expected to Hold Major Share
– According to Doohken Network, the China OOH market is around USD 9 billion, of which between 25% and 30% is what could be called digital. Digital screens and spends are increasing at a faster rate due to multiple factors. Some are as basic as more availability of cheaper, higher-quality screens, while advertisers want better audience engagement and impact from their creative messages, plus the introduction of new technologies. Another key driver is that most video advertising is now in shorter lengths, even 3-5 seconds, so the video can now work effectively on digital screens to build reach for mass media campaigns. It is expected that over the next years,
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Digital Outdoor spend will grow significantly while static outdoor, except for large format billboard ads, will decline in China.
– In March 2020, Clear Channel said it had sold its business in China for USD 253 million as it pulled its guidance and announced cost-cutting plans to fight the coronavirus crisis. The outdoor advertising group announced that it will sell its 51% stake in subsidiary Clear Media to Ever Harmonic, a consortium of investors including Clear Media boss Han Zi Jing and rival ad firm JC Decaux. Clear Channel said it would use the revenue of the sale to improve its liquidity position and increase its financial flexibility. It came as the company, which operates 460,000 print and digital billboards, withdrew its full-year guidance and unveiled significant cost-cutting measures as the global pandemic hits footfall as its sites.
Competitive Landscape
The Asia Pacific Digital-Out-of-Home (DOOH) Market is highly fragmented. It comprises several extensive outdoor advertising and media companies with operations in multiple markets, as well as the smaller, local companies operating a limited number of structures in one or a few of the local markets. Some of the major players in the market include JCDecaux Group, Clear Channel Outdoor Holdings Inc., BroadSign International LLC, Outfront Media Inc., etc.
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Ongoing shift towards Digital advertising aided by increased spending on smart city projects
4.2.2 High-demand from Commercial segment
4.2.3 Adoption of global cues such as Programmatic Advertising and location-aided advertising
4.2.4 Ongoing technological advancements and emphasis on omnichannel advertising
4.3 Market Challenges
4.3.1 Operational challenges related to measurement of advertising effectiveness, cost and market fragmentation
4.3.2 Regulatory concerns
4.4 Market Opportunities
4.5 Industry Attractiveness – Porter's Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Consumers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Industry Regulations & Standards
4.7 Relative analysis of DOOH Market in Asia-Pacific vs Rest of the World
4.8 Assessment of the impact of COVID-19 on DOOH
5 ANALYSIS ON THE ADVERTISING SPEND IN THE ASIA-PACIFIC REGION