The outdoor advertising industry is gearing up for a decade of steady expansion, with new data from Allied Market Research projecting the global market to grow from $16.3 billion in 2024 to $26.47 billion by 2034, at a 5% CAGR.
The report, Outdoor Advertising Market by Type, Service, and End User: Global Opportunity Analysis and Industry Forecast, 2025–2034, paints a detailed picture of how urbanization, digital transformation, and omnichannel marketing are redefining how brands connect with consumers in public spaces.
Traditional Formats Still Reign Supreme
Despite the rapid rise of Digital Out-of-Home (DOOH), the report finds that traditional outdoor formats—billboards, posters, and transit ads—still dominate, representing over three-fifths of global revenue in 2024. Their staying power stems from constant visibility, cost-effectiveness, and localized targeting—qualities that resonate with small and mid-sized enterprises, as well as in emerging markets where digital infrastructure remains limited.
In many regions, static displays remain the backbone of advertising’s physical presence—reliable, regulation-friendly, and impossible to scroll past.
Billboards Continue to Lead the Charge
Among all services, billboard advertising continues to be the heavyweight champion, commanding more than 60% of global market share in 2024. Their high-impact visibility across highways and commercial zones, combined with non-intrusive messaging, keeps them a preferred format for large-scale brand campaigns.
However, billboards are far from old-fashioned. The rise of DOOH billboards, featuring dynamic content, real-time updates, and time-based targeting, has elevated them into a data-driven medium that bridges traditional and digital advertising. Brands from FMCG to fintech are leveraging digital billboards to deliver adaptable, measurable campaigns with mass reach.
BFSI Sector Takes the Spotlight
Financial services are betting big on outdoor visibility. The Banking, Financial Services, and Insurance (BFSI) segment accounted for nearly one-fourth of market revenue in 2024, making it the top end-user of outdoor media. From promoting digital banking apps to showcasing financial literacy campaigns, banks and fintech firms are using billboards, transit ads, and digital displays to stay visible in a crowded market.
With rising competition in digital finance, continuous brand presence through OOH campaigns helps financial institutions maintain credibility and trust among increasingly mobile consumers.
North America Leads, Asia-Pacific Rising Fast
Geographically, North America remains the industry frontrunner, thanks to mature advertising infrastructure, advanced DOOH networks, and programmatic ad technologies. The region’s high consumer mobility and dense transit systems provide fertile ground for both static and digital outdoor media.
Meanwhile, Asia-Pacific is emerging as a growth hotspot, driven by rapid urbanization, smart city projects, and an expanding middle class. China, India, and South Korea are seeing particularly aggressive DOOH adoption—where digital billboards and data-enabled targeting are transforming how brands interact with urban audiences.
What’s Powering the Growth
Several key trends underpin this sustained expansion:
- Urbanization & infrastructure development: More transit hubs and commercial spaces create prime ad real estate.
- Post-pandemic consumer mobility: Outdoor foot traffic has rebounded, reigniting advertiser interest.
- Digital transformation: DOOH enables dynamic content, real-time updates, and precise targeting.
- Smart city integration: Governments and brands are investing in interactive, sustainable ad installations.
- Omnichannel synergy: Outdoor ads are increasingly synced with mobile and social media campaigns for cross-platform impact.
The Road Ahead
The next decade will likely see traditional and digital outdoor formats coexist, each complementing the other. As marketers chase measurable engagement, DOOH’s programmatic capabilities and integration with mobile data will redefine how brands value outdoor real estate.
But one thing remains constant: whether static or digital, outdoor advertising’s unmatched visibility ensures it continues to be one of the most trusted and impactful marketing mediums worldwide.
