Digital Out-of-Home Advertising - Nordics

Ad spending in the Digital Out-of-Home Advertising market in Nordics is forecasted to reach US$321.20m in 2024.
The market is expected to experience an annual growth rate (CAGR 2024-2030) of 6.86%, leading to a projected market volume of US$478.20m by 2030.
With a projected market volume of US$4.37bn in 2024, the majority of ad spending is anticipated to originate from China.
The average ad spending per capita in the Digital Out-of-Home Advertising market is projected to be US$11.45 in 2024.
In the Nordics, Digital Out-of-Home Advertising is rapidly evolving with innovative technologies and interactive experiences, reshaping the advertising landscape in the region.

Definition:
Digital Out-of-Home (DOOH) Advertising refers to all advertising revenues from internet-connected out-of-home advertisements in public areas. The Digital Out-of-Home Advertising market includes all ad spending on large outdoor formats, street furniture, transit and transportation, and others.

Additional information:
Digital Out-of-Home (DOOH) Advertising comprises advertising spending, users, and average revenue per user. The market only displays B2B spending. Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. Key players in Digital Out-of-Home Advertising include JCDecaux, Ströer, Focus Media Information, Hakuhodo, Dentsu, Clear Channel Outdoor, and APG SGA. For more information on the data displayed, use the info button right next to the boxes.

Digital billboards (city-light boards)
Digital street furniture (city-light posters)
Digital transit & transportation (digital advertising in and on vehicles used for public transportation)
Digital place-based media (digital ambient media at point of sale)

Traditional billboards (bulletins, large banners, inflatables)
Traditional street furniture (advertising columns)
Traditional transit & transportation (traditional indoor and outside advertising in and on vehicles used for public transportation)
Traditional place-based media (e.g., traditional ambient media at point of sale, posters in restrooms)
Event- and promotion-related media

The Digital Out-of-Home Advertising market in the Nordics is experiencing steady growth and development.

Customer preferences: Customers in the Nordics have shown a strong preference for digital out-of-home advertising due to its dynamic and engaging nature. They are increasingly drawn to interactive and visually appealing advertisements that capture their attention and provide a memorable experience. This preference for digital advertising is driven by the region's tech-savvy population and their high levels of digital literacy.

Trends in the market: One of the key trends in the Nordics' digital out-of-home advertising market is the increasing adoption of programmatic advertising. Programmatic advertising allows for real-time bidding and automated ad placement, enabling advertisers to target specific audiences and optimize their campaigns for maximum impact. This trend is driven by the region's highly connected and data-driven advertising ecosystem, which allows for precise audience targeting and measurement of campaign effectiveness. Another trend in the market is the integration of digital out-of-home advertising with mobile devices. Advertisers are leveraging the ubiquity of smartphones and tablets to deliver personalized and contextually relevant messages to consumers. By combining digital out-of-home displays with mobile technologies, advertisers can create seamless and immersive brand experiences that resonate with consumers and drive engagement.

Local special circumstances: The Nordics' unique cultural and environmental factors contribute to the development of the digital out-of-home advertising market. The region's high population density in urban areas and extensive public transportation networks provide ample opportunities for advertisers to reach a large and diverse audience. Additionally, the Nordics' commitment to sustainability and innovation has led to the widespread adoption of eco-friendly digital out-of-home advertising solutions, such as energy-efficient displays and renewable energy sources.

Underlying macroeconomic factors: The Nordics' strong and stable economies play a significant role in the growth of the digital out-of-home advertising market. The region's high levels of disposable income and consumer spending contribute to a favorable advertising environment, with advertisers willing to invest in innovative and impactful campaigns. Furthermore, the Nordics' advanced digital infrastructure and high internet penetration rates ensure that digital out-of-home advertising can reach a wide audience and deliver measurable results. In conclusion, the Digital Out-of-Home Advertising market in the Nordics is thriving due to customer preferences for interactive and visually appealing advertisements, the adoption of programmatic advertising, integration with mobile devices, unique local circumstances, and strong macroeconomic factors. This market is expected to continue growing as advertisers leverage the region's digital capabilities and consumer engagement to create impactful and targeted campaigns.

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.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

When consumers take a break from smartphones, connected TVs, and computer screens, outdoor advertising is often there, promoting products and services on billboards and transit displays. Still, out-of-home (OOH) channels have also gone increasingly digital – today, online and programmatic solutions drive the industry's expansion worldwide. Mid-2023 estimates indicated that static OOH could barely grow half as fast as the digital OOH (or DOOH) subsegment between 2023 and 2025.