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

Traditional Out-of-Home Advertising - Norway

Norway

Norway's Traditional Out-of-Home Advertising market is projected to reach US$29.38m in 2024.
Ad spending is expected to show an annual growth rate (CAGR 2024-2029) of 0.01%, resulting in a projected market volume of US$29.39m by 2029.
The average ad spending per capita in the Traditional Out-of-Home Advertising market is projected to amount to US$5.33 in 2024.
Norway's traditional out-of-home advertising market is seeing a resurgence in demand, with innovative digital platforms enhancing the effectiveness of classic advertising strategies.

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

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Analyst Opinion

The Traditional Out-of-Home Advertising market in Norway is experiencing steady growth and development.

Customer preferences: Norwegian consumers have shown a strong preference for traditional out-of-home advertising methods. They appreciate the tangible and physical nature of billboards, posters, and signage that can be seen in public spaces. This preference is driven by the fact that traditional out-of-home advertising allows for wide exposure to a large audience, making it an effective way to reach potential customers. Additionally, the simplicity and straightforwardness of these advertising methods resonate well with the Norwegian population, who value authenticity and transparency in marketing messages.

Trends in the market: One of the key trends in the Traditional Out-of-Home Advertising market in Norway is the adoption of digital technologies. While traditional methods still dominate the market, digital billboards and interactive displays are gaining popularity. These digital advertising solutions offer greater flexibility and dynamic content options, allowing advertisers to engage with their target audience in more innovative and captivating ways. The use of real-time data and analytics also enables advertisers to tailor their messages to specific locations and demographics, enhancing the effectiveness of their campaigns. Another trend in the market is the integration of traditional out-of-home advertising with online and mobile platforms. Advertisers are increasingly using QR codes, augmented reality, and location-based technologies to bridge the gap between offline and online advertising. This integration allows for a seamless customer journey, where consumers can easily access additional information or make purchases through their smartphones after seeing an advertisement in the physical world. This trend is driven by the growing reliance on mobile devices and the desire to create a more personalized and interactive advertising experience.

Local special circumstances: Norway's unique geography and population distribution contribute to the development of the Traditional Out-of-Home Advertising market. With its vast landscapes and low population density, outdoor advertising plays a crucial role in reaching consumers in remote areas where other advertising mediums may be less effective. The scenic beauty of Norway also provides a captivating backdrop for outdoor advertisements, making them more visually appealing and memorable.

Underlying macroeconomic factors: The strong Norwegian economy and high consumer purchasing power are key factors driving the growth of the Traditional Out-of-Home Advertising market. Norway has a high standard of living and a well-developed infrastructure, which provides a conducive environment for out-of-home advertising. Additionally, the tourism industry in Norway is thriving, attracting a large number of international visitors. This presents an opportunity for advertisers to target both domestic and international audiences through outdoor advertising. In conclusion, the Traditional Out-of-Home Advertising market in Norway is developing due to customer preferences for tangible and straightforward advertising methods, the adoption of digital technologies, the integration of offline and online platforms, the unique geography and population distribution in Norway, and the strong macroeconomic factors supporting the market.

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.