New research from Alfi reveals 95 per cent of advertising executives expect digital out of home (DOOH) advertising to grow over the next two years, with 51 per cent anticipating major expansion. At the end of 2020, the DOOH market was thought to be worth $41.06 billion. By 2026, 65 per cent of advertising executives predict it will rise to $55bn.
A further 16 per cent expect it to be worth up to $60bn, and 14 per cent say it will be even bigger.
Alfi interviewed senior advertising executives in the US, UK, France, Germany and parts of Asia.
In terms of how advertising spend on DOOH will change between now and 2026, half of respondents anticipate it will rise dramatically and a further 40 per cent expect it to increase slightly. The main reason for the growth is that there will be a bigger general spend on digital advertising – the view of 66 per cent of advertising professionals.
It was followed by 62 per cent who said tech advances mean that DOOH will be able to provide even more analysis around campaigns. Other reasons given for the anticipated increased spend include a growing focus on evaluating ad campaigns and the strength of the DOOH market, and a rapid increase in the number of digital screens being rolled out.