Technology

DOOH global market may hit $35B by 2027

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July 23, 2021

The worldwide market for DOOH promotion, estimated at $18.8 billion in 2020, will climb to $35.1 billion by 2027, according to ResearchAndMarkets.com.

Billboard advertising, one of the segments analyzed in the report, should reach $17.2 billion by the end of the analysis period. The transit segment accounts for a 25.7% share of the global DOOH market.

The DOOH market in the U.S. was $5.6 billion in 2020, which accounted for more than 29.6% of global market size in 2020. China should grow 8.7% from 2020-2027. China, the world's second largest economy, is forecast to reach an estimated market size of $6.1 billion in the year 2027.

The research revealed that markets in Japan and Canada should increase 8.6% and 7.6%, respectively over the seven-year period. Within Europe, the report predicted Germany will grow 7.6%, while the rest of the European market will reach $6.1 billion by 2027.