Outdoor Advertising Machine Market: Introduction
- Outdoor advertising machines help to carry advertising messages in several forms of media to outdoor consumer audiences. Outdoor advertising machines are also known as billboards.
- Outdoor advertisement is essential because it reaches thousands of consumers by foot, mass transit, or by vehicles. Usually fast and effective, outdoor advertising works well to promote a product in a specific geographical region. Technological developments in today’s digital era have offered manufacturers and promoters a variety of automation tools to broadcast and run advertisement campaigns directly to their focus audiences.
Key Drivers of the Global Outdoor Advertising Machine Market
- Over the past few years, technological advancements related to the internet coupled with its increasing commercial use, and digital revolution across the globe is driving the demand for outdoor advertising machines. Companies are collecting crucial data about social media users such as their personal information, product search, and usage pattern with the growing number of social media users on Facebook, Instagram, and Twitter across the globe. This information is helping them to create lucrative advertisements for targeted consumers.
- An increasing number of commercial complexes, malls, and growing preference for digital advertising channels (owing to low cost) is also expected to boost the demand for outdoor advertising machines in the coming years.
- Companies working in the global outdoor advertising machine market are investing to expand their product portfolios and in technological advancement to improve product efficiency. They adopt different business strategies to cater to the increasing demand for outdoor advertising machines in different regions.
Outdoor Advertising Machine Anticipated to Offer Attractive Opportunities
- Economies across emerging regions such as Asia Pacific and Middle East & Africa are seeing a surge in development rate owing to increasing number of commercial complexes and significant population growth.
- Compact structure and minimal cost of advertisement is anticipated to make this product more attractive across different industries. Advertisement through outdoor advertising machines is inexpensive as compared to other media such as magazines, newspapers, and television. It helps companies to promote their products or services in a highly effective manner. Small industries prefer outdoor advertising machines to popularize their products to reduce their marketing cost which is also anticipated to increase their demand in the coming years.
High Cost of the Product Expected to Hamper the Overall Market
- The major challenge faced by outdoor advertising machine manufacturers is the product cost. Most outdoor advertising machines available in the market are expensive which makes it unaffordable for small companies. This is expected to impact the market during the forecast period.
Asia Pacific Anticipated to be the Fastest Growing Market in the Global Outdoor Advertising Machine Market
- Asia Pacific is expected to be the fastest growing market for outdoor advertising machines during the forecast period owing to increasing demand for the product in emerging countries across the region owing to significant economic development. Increasing population and disposable income is the major driver of the regional market.
- However, North America and Europe have dominated the market and are anticipated to maintain their dominance in the coming years.
Key Players Operating in the Global Market
The global outdoor advertising machine market is moderately concentrated with top manufacturers accounting for approximately 10%–15% of the overall market share. A few of the major players operating in the global outdoor advertising machine market are listed below:
- Panasonic
- LG Electronics
- Barco NV
- Lighthouse Technologies
- Leyard Optoelectronic
- Daktronics
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