Wonder

Out of Home Advertising Market - US

Delivered October 1, 2019. Contributor: Estel M.

Goals

To determine the size, growth projection, and major players in the out of home advertising market in the US, specifically those related to mobility and transportation ex. digital billboards on taxi/car tops, bus and taxi ads, etc. Research will be used for a business pitch in this market. 

Early Findings

DIGITAL OOH MARKET SIZE - USAccording to PricewaterhouseCoopers (PwC), the digital out-of-home (OOH) advertising market in the US is estimated at $10 billion in 2018 and projected to grow to $11.5 billion in 2022 or at 3.56% CAGR.
The Out of Home Advertising Association of America (OAAA) reported in 2018 that public transportation together with hotels and resorts had a total OOH advertising spend of $535.6 million in 2018. (This latest report does not have a separate breakdown for transit advertising only.)
 OAAA's earlier report in 2015 determined the transit advertising revenue to be $1.3 billion, comprising 18% of the overall OOH revenue. 
The OAAA report stated the following number of OOH displays in 2016: 68,560 in airports, 205,426 in buses, 184,078 in subway and rail, 1,200 in mobile billboards, 2,732 truckside vehicles, 46,194 in taxis/wrapped vehicles, and 3,760 in digital transit.
The U.S. Transportation Research Board also reported in 2012 that almost $1 billion is spent annually on public transit advertising. 
GLOBAL OOH MARKET SIZE AND GROWTHAlternatively, we could also apply the CAGR of the global outdoor advertising market to triangulate the growth rate through 2024.
According to IMARC Group's report, the global market size reached $41.8 billion in 2018.
The global outdoor advertising market is projected to grow at a 4.9% CAGR from 2019 to 2024.

Proposed next steps:

You need to be the project owner to select a next step.