Market Insights Advertising & Media Advertising Out-of-Home Advertising

Digital Out-of-Home Advertising - ASEAN

ASEAN

Ad spending in the Digital Out-of-Home Advertising market in ASEAN is forecasted to reach US$0.66bn in 2024.
The expected annual growth rate (CAGR 2024-2029) is 6.40%, leading to a projected market volume of US$0.90bn by 2029.
In 2024, the projected market volume is US$5,277.00m, with United States being the main contributor to ad spending.
The average ad spending per capita in the Digital Out-of-Home Advertising market is projected to be US$0.96 in 2024.
In ASEAN, the Digital Out-of-Home Advertising market is rapidly growing, driven by increased urbanization and the adoption of advanced technology by advertisers.

Key regions: Europe, United States, United Kingdom, Germany, India

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Analyst Opinion

The Digital Out-of-Home Advertising market in ASEAN is experiencing significant growth driven by changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the ASEAN region are shifting towards more interactive and engaging advertising experiences. Consumers are increasingly seeking personalized and targeted advertisements that resonate with their interests and preferences. This has led to the rise of digital out-of-home advertising, which allows for dynamic and real-time content delivery. Additionally, the growing popularity of mobile devices and social media has created a demand for seamless integration between digital out-of-home advertising and these platforms. Trends in the market indicate a strong focus on data-driven advertising strategies. Advertisers are leveraging advanced analytics and artificial intelligence to gather insights about consumer behavior and preferences. This enables them to deliver more relevant and impactful advertisements, leading to higher engagement and conversion rates. Furthermore, there is a growing emphasis on programmatic advertising, which automates the buying and selling of ad inventory. This allows advertisers to optimize their campaigns in real-time and reach their target audience more effectively. Local special circumstances in the ASEAN region play a crucial role in shaping the digital out-of-home advertising market. The region is characterized by a diverse cultural landscape, with each country having its own unique advertising preferences and regulations. Advertisers need to tailor their campaigns to cater to the specific needs and interests of each country. Additionally, the rapid urbanization and infrastructure development in ASEAN countries have created new opportunities for digital out-of-home advertising. The increasing number of malls, airports, and transit systems provide prime locations for digital signage and displays. Underlying macroeconomic factors are also driving the growth of the digital out-of-home advertising market in ASEAN. The region has been experiencing steady economic growth, resulting in an expanding middle class with higher disposable incomes. This has led to an increase in consumer spending and a greater demand for products and services. Advertisers are capitalizing on this trend by investing in digital out-of-home advertising to capture the attention of these affluent consumers. Furthermore, the ASEAN region is attracting significant foreign direct investment, which is fueling economic growth and creating new business opportunities. In conclusion, the Digital Out-of-Home Advertising market in ASEAN is witnessing strong growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Advertisers are embracing digital technologies and data-driven strategies to deliver personalized and engaging advertising experiences. The diverse cultural landscape and rapid urbanization in the region present both challenges and opportunities for advertisers. The favorable macroeconomic conditions and increasing consumer spending are driving the demand for digital out-of-home advertising in ASEAN.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on digital out-of-home advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers internet-connected out-of-home advertisements such as digital billboards, digital street furniture, digital transit and transportation, and digital place-based media.

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party reports, and survey results from our primary research (e.g., Consumer Insights) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, population, urban population, and internet infrastructure.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market. For instance, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.

Additional notes:

Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.