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.
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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.
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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:
- LG Electronics
- Barco NV
- Lighthouse Technologies
- Leyard Optoelectronic
- Xtreme Media Pvt. Ltd.
Global Outdoor Advertising Machine Market: Research Scope
Global Outdoor Advertising Machine Market, by Type
- Digital Media
- Physical Media
Global Outdoor Advertising Machine Market, by Size
Global Outdoor Advertising Machine Market, by Application
- Shopping Malls
- Others (Corporate Complexes, Manufacturing Units, etc.)
Global Outdoor Advertising Machine Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.