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

Digital Out-of-Home Advertising - Southeast Asia

Southeast Asia

Ad spending in the Digital Out-of-Home Advertising market in Southeast Asia is forecasted to reach US$0.66bn in 2024.
Ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 6.40%, leading to a projected market volume of US$0.90bn by 2029.
With a projected market volume of US$5,277.00m in 2024, the majority of ad spending is expected to originate from United States.
The average ad spending per capita in the Digital Out-of-Home Advertising market is projected to be US$0.96 in 2024.
In Southeast Asia, the rise of interactive and data-driven Digital Out-of-Home Advertising is reshaping the advertising landscape in the region.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Digital Out-of-Home Advertising market in Southeast Asia is experiencing a steady growth due to several key factors.

Customer preferences: Customers in Southeast Asia are increasingly drawn to digital out-of-home advertising due to its dynamic and engaging nature. With the rise of social media and mobile devices, consumers are becoming more accustomed to interactive and visually appealing content. Digital out-of-home advertising provides an opportunity for brands to capture the attention of consumers in a unique and memorable way. Additionally, the ability to target specific audiences and deliver personalized messages further enhances the appeal of digital out-of-home advertising.

Trends in the market: One of the key trends in the digital out-of-home advertising market in Southeast Asia is the adoption of programmatic advertising. Programmatic advertising allows for real-time bidding and targeting, enabling advertisers to reach their desired audience more effectively. This trend is driven by the increasing availability of data and analytics, which allows advertisers to optimize their campaigns and measure their effectiveness. Furthermore, the use of programmatic advertising can help to reduce costs and increase efficiency in the digital out-of-home advertising ecosystem. Another trend in the market is the integration of digital out-of-home advertising with mobile technology. This integration allows advertisers to deliver personalized and location-based content to consumers through their mobile devices. For example, a consumer walking past a digital billboard can receive a notification on their mobile device with a special offer or discount. This seamless integration between digital out-of-home advertising and mobile technology enhances the overall customer experience and increases the effectiveness of advertising campaigns.

Local special circumstances: Southeast Asia is a diverse region with varying levels of economic development and infrastructure. This presents both opportunities and challenges for the digital out-of-home advertising market. In more developed countries such as Singapore and Malaysia, there is a higher concentration of digital out-of-home advertising displays in urban areas, where there is a larger population and higher footfall. On the other hand, in less developed countries such as Cambodia and Laos, the digital out-of-home advertising market is still in its nascent stage, with limited infrastructure and lower levels of consumer adoption.

Underlying macroeconomic factors: The economic growth and increasing urbanization in Southeast Asia are key drivers of the digital out-of-home advertising market. As the middle class continues to expand, there is a growing consumer base with disposable income, which presents an attractive opportunity for advertisers. Additionally, rapid urbanization has led to increased footfall in commercial areas, making digital out-of-home advertising a highly visible and effective medium for reaching consumers. In conclusion, the Digital Out-of-Home Advertising market in Southeast Asia is experiencing growth due to customer preferences for dynamic and engaging content, the adoption of programmatic advertising, the integration with mobile technology, local special circumstances such as varying levels of infrastructure, and underlying macroeconomic factors such as economic growth and urbanization.

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.