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

Traditional Out-of-Home Advertising - ASEAN

ASEAN

Ad spending in the Traditional Out-of-Home Advertising market in ASEAN is forecasted to hit US$0.87bn in 2024.
The sector is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 0.46%, leading to a projected market volume of US$0.89bn by 2029.
The average ad spending per capita in the Traditional Out-of-Home Advertising market is expected to be US$1.26 in 2024.
In ASEAN, the Traditional Out-of-Home Advertising market is experiencing a shift towards digital formats to reach tech-savvy consumers.

Key regions: France, United Kingdom, Asia, China, Germany

Market

Region

Region comparison

Currency

Analyst Opinion

The Traditional Out-of-Home Advertising market in ASEAN is experiencing significant growth and development.

Customer preferences: Customers in ASEAN countries have shown a strong preference for traditional out-of-home advertising methods. This can be attributed to several factors, including the large population in these countries and the high levels of urbanization. Traditional out-of-home advertising methods such as billboards, posters, and transit advertising are highly visible and can reach a wide audience. Additionally, customers in ASEAN countries have a strong affinity for outdoor activities and spend a significant amount of time outside their homes, making traditional out-of-home advertising an effective way to reach them.

Trends in the market: One of the key trends in the Traditional Out-of-Home Advertising market in ASEAN is the increasing use of digital technology. Digital billboards and screens are becoming more prevalent in major cities, offering advertisers the opportunity to display dynamic and interactive content. This trend is driven by advancements in technology and the increasing demand for more engaging and targeted advertising. Digital out-of-home advertising allows for real-time content updates and can be integrated with other digital marketing channels, providing a seamless and integrated advertising experience for customers. Another trend in the market is the growing focus on sustainability and environmental responsibility. Advertisers in ASEAN countries are increasingly seeking out eco-friendly and sustainable advertising solutions. This includes the use of recycled materials for billboards and posters, as well as the adoption of energy-efficient lighting and digital displays. This trend is driven by changing consumer preferences and the increasing importance of corporate social responsibility.

Local special circumstances: Each ASEAN country has its own unique characteristics and local special circumstances that impact the Traditional Out-of-Home Advertising market. For example, in countries like Thailand and Indonesia, where tourism is a major industry, out-of-home advertising is often targeted towards tourists and visitors. This includes advertising at airports, tourist attractions, and public transportation hubs. In contrast, in countries like Singapore and Malaysia, where there is a high level of urbanization and a large number of shopping malls and commercial centers, out-of-home advertising is often focused on reaching the local population and shoppers.

Underlying macroeconomic factors: Several underlying macroeconomic factors contribute to the development of the Traditional Out-of-Home Advertising market in ASEAN. These include the region's strong economic growth, increasing disposable incomes, and rapid urbanization. As ASEAN countries continue to experience economic development and urbanization, the demand for out-of-home advertising is expected to grow. Additionally, the rise of the middle class in these countries has led to an increase in consumer spending and a greater demand for products and services, which in turn drives the need for advertising.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on traditional out-of-home advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers offline out-of-home advertisements such as billboards, street furniture, transit and transport displays, and 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.