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

Traditional Out-of-Home Advertising - Central America

Central America

Central America is projected to witness ad spending in the Traditional Out-of-Home Advertising market reaching US$77.17m by 2024.
The market is expected to show an annual growth rate (CAGR 2024-2029) of 2.66%, leading to a projected market volume of US$88.01m by 2029.
The average ad spending per capita in the Traditional Out-of-Home Advertising market is projected to be US$1.46 in 2024.
In Central America, the growing trend of utilizing traditional out-of-home advertising is reshaping the advertising market landscape.

Key regions: Germany, Europe, Asia, France, China

Market

Region

Region comparison

Currency

Analyst Opinion

The Traditional Out-of-Home Advertising market in Central America is experiencing steady growth and development. Customer preferences in the region have played a significant role in the expansion of the Traditional Out-of-Home Advertising market. Central American consumers tend to spend a significant amount of time outside their homes, whether it be for work, leisure, or commuting. This creates ample opportunities for advertisers to reach a wide audience through traditional out-of-home advertising methods such as billboards, transit ads, and street furniture. Additionally, Central American consumers have shown a preference for physical advertisements that they can easily see and interact with while going about their daily routines. Trends in the market reflect the growing demand for traditional out-of-home advertising in Central America. Advertisers are increasingly investing in high-visibility locations such as major highways, busy city centers, and popular tourist destinations. This allows them to maximize their reach and impact, ensuring that their messages are seen by a large number of people. Furthermore, there is a growing trend towards the use of digital technology in traditional out-of-home advertising. Digital billboards and interactive displays are becoming more common, providing advertisers with the ability to deliver dynamic and engaging content to their target audience. Local special circumstances also contribute to the development of the Traditional Out-of-Home Advertising market in Central America. The region's growing economy and increasing urbanization have led to a rise in disposable incomes and consumer spending. This has created a favorable environment for advertisers, as businesses are willing to invest in advertising to promote their products and services. Additionally, Central America's tourism industry is booming, attracting a large number of international visitors. Advertisers are capitalizing on this trend by targeting tourists with advertisements that promote local attractions, hotels, and restaurants. Underlying macroeconomic factors further support the growth of the Traditional Out-of-Home Advertising market in Central America. The region's stable political environment and favorable business climate have attracted foreign investment, leading to increased economic activity. This has resulted in a growing number of businesses and brands looking to establish a presence in Central America and reach the local consumer base. Additionally, advancements in technology and infrastructure have made it easier for advertisers to plan and execute out-of-home advertising campaigns, further fueling market growth. In conclusion, the Traditional Out-of-Home Advertising market in Central America is developing due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. As the region continues to experience economic growth and urbanization, the demand for traditional out-of-home advertising is expected to continue rising. Advertisers will need to adapt to changing consumer preferences and leverage digital technology to stay relevant and effectively reach their target audience.

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 Global Survey) 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.