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

Digital Out-of-Home Advertising - Greece

Greece

Ad spending in the Digital Out-of-Home Advertising market in Greece is forecasted to reach US$10.27m in 2024.
The expected annual growth rate (CAGR 2024-2029) is 8.83%, leading to a projected market volume of US$15.68m by 2029.
In 2024, the projected market volume is US$4,366.00m, with China expected to generate the most ad spending.
The average ad spending per capita in the Digital Out-of-Home Advertising market is projected to be US$1.00 in 2024 in Greece.
In Greece, the Digital Out-of-Home Advertising market is rapidly expanding, leveraging the country's rich history and vibrant cultural heritage to engage consumers effectively.

Key regions: India, France, United States, United Kingdom, China

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Analyst Opinion

The Digital Out-of-Home Advertising market in Greece is experiencing significant growth and development.

Customer preferences: Customers in Greece are increasingly turning to digital out-of-home advertising as a way to reach and engage with their target audience. This is due to the fact that digital out-of-home advertising offers a more dynamic and interactive experience compared to traditional forms of advertising. Customers are also attracted to the ability to easily update and change their advertising content in real-time, allowing them to stay relevant and adapt to changing market conditions.

Trends in the market: One of the key trends in the digital out-of-home advertising market in Greece is the increasing adoption of programmatic advertising. Programmatic advertising allows advertisers to automate the buying and selling of ad space, making it more efficient and cost-effective. This trend is driven by the growing availability of data and technology that enables advertisers to target their audience with greater precision. Another trend in the market is the integration of digital out-of-home advertising with other digital platforms. Advertisers are increasingly using digital out-of-home advertising as part of their broader omni-channel marketing strategies, combining it with online and mobile advertising to create a seamless and integrated customer experience. This trend is driven by the fact that consumers are now more connected than ever before, and advertisers are looking for ways to engage with them across multiple touchpoints.

Local special circumstances: Greece has a strong tourism industry, with millions of tourists visiting the country each year. This presents a unique opportunity for advertisers to target both domestic and international tourists through digital out-of-home advertising. Advertisers can leverage the high footfall in popular tourist destinations to reach a large and diverse audience. Furthermore, Greece has a vibrant and bustling city life, with many people spending a significant amount of time outdoors. This creates a favorable environment for digital out-of-home advertising, as there are ample opportunities to engage with consumers in public spaces such as shopping centers, transportation hubs, and city streets.

Underlying macroeconomic factors: The growth of the digital out-of-home advertising market in Greece is also influenced by macroeconomic factors. The country has experienced economic recovery in recent years, which has led to increased consumer spending and business investment. This has created a more favorable business environment for advertisers, as they have more resources to allocate towards marketing and advertising activities. Additionally, advancements in technology and infrastructure have made it easier and more cost-effective for advertisers to deploy digital out-of-home advertising campaigns. The widespread availability of high-speed internet and the increasing penetration of smartphones have created a connected society, enabling advertisers to reach consumers on the go. In conclusion, the Digital Out-of-Home Advertising market in Greece is growing and evolving due to customer preferences for dynamic and interactive advertising experiences, the adoption of programmatic advertising, the integration of digital out-of-home advertising with other digital platforms, local special circumstances such as the strong tourism industry and vibrant city life, and underlying macroeconomic factors such as economic recovery and advancements in technology and infrastructure.

Methodology

Data coverage:

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