Report: Outdoor Advertising Flourishes As the Economy Stutters
Posted by: Richard Williams | Posted on: | 0 Comments
While the economies in Britain, Europe and the United States have seen relatively low levels of growth, with threats of a second recession looming in many countries, one industry that is surviving the economic gloom is outdoor advertising.
Driven by the growing use of outdoor advertising screens, the out of home sector has continued to show steady growth year on year. In the UK where outdoor digital signage now account for £1 in every £8 spent on outdoor advertising, six out of the last seven quarters have seen successive growth in outdoor media.
The ten biggest advertisers in outdoor advertising in the UK consist mainly of entertainment, technology and food industries, and include, BSkyB, McDonalds, Kellogg’s, Coca Cola, Everything Everywhere, Entertainment Films, Kentucky Fried Chicken, O2, Twentieth Century Fox, and Vodafone. However, an increasing number of smaller companies are investing in outdoor adverts, which has helped see the UK outdoor advertising sector grow by 1.1% every year.
Revenue from digital advertising screens, however, has grown exponentially, up 29% in the last quarter alone as more and more advertisers see the benefits of using outdoor advertising screens.
Globally, outdoor digital signage is also thriving, with new markets generating huge potential for digital signage companies and advertisers. Recent research carried out by Intel Corporation suggest digital advertising will see annual compound growth of 26%, and they predict by 2015 there will be over 22 million digital advertising screens in operation by 2015. And according to a new report by Global Industry Analysts the global digital signage market could be worth nearly $14 billion by 2017.
One of the emerging new markets for outdoor advertising screens is the Middle East, which has seen huge rises in the implementation of outdoor advertising screens. Locations such as Dubai have become huge markets for advertisers as the burgeoning middle classes and the growing importance of the region in world economics have seen huge rises in consumer spending.
Next month sees the International Expo Consults 15th Sign and Graphic Imaging Middle East (SGI) show. Held in the Dubai World Trade from January 31 to February 2, it’s a testament to the rising importance of digital advertising that the show will now incorporate a Digital Signage and Digital Commerce section. The show is expected to see 10,000 visitors from over 30 countries come and see the 400 exhibitors, which will make it one of the most visited trade shows in 2012 for the entire digital signage market.
Another factor in the growth of the entire digital out of home advertising (DooH) sector is the falling price of the technology. With the purchase, installation and maintenance of digital signage systems continuously falling, more and more advertisers, retailers and other businesses are installing outdoor advertising displays as a form of promotion, branding, advertising and information provision.
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