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

Digital Out-of-Home Advertising - Northern Europe

Northern Europe

Ad spending in the Digital Out-of-Home Advertising market in Northern Europe is forecasted to reach US$345.80m in 2024.
The sector is anticipated to experience an annual growth rate (CAGR 2024-2029) of 7.39%, leading to a projected market volume of US$493.90m by 2029.
In 2024, the market volume is expected to hit US$4,366.00m, with the majority of ad spending originating from China.
The estimated average ad spending per capita in the Digital Out-of-Home Advertising market is set to be US$10.21 in 2024.
In Northern Europe, Norway's Digital Out-of-Home Advertising market is embracing interactive technology to engage consumers in innovative ways.

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

Market

Region

Region comparison

Currency

Analyst Opinion

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

Customer preferences: Customers in Northern Europe are increasingly drawn to digital out-of-home advertising due to its ability to deliver dynamic and interactive content. The use of high-resolution screens and advanced technology allows advertisers to create engaging and personalized campaigns that capture the attention of consumers. Additionally, the ability to target specific demographics and locations with precision is highly appealing to advertisers, as it allows them to maximize the effectiveness of their campaigns.

Trends in the market: One of the key trends in the Digital Out-of-Home Advertising market in Northern Europe is the adoption of programmatic advertising. Programmatic advertising enables advertisers to automate the buying and selling of ad space, allowing for real-time bidding and optimization of campaigns. This trend is driven by the increasing availability of data and analytics, which allows advertisers to make data-driven decisions and target their audience more effectively. Programmatic advertising also offers greater flexibility and efficiency, as it allows advertisers to adjust their campaigns in real-time based on performance and audience response. Another trend in the market is the integration of digital out-of-home advertising with mobile devices. With the widespread use of smartphones and tablets, advertisers are leveraging this technology to enhance their campaigns. By using technologies such as NFC (Near Field Communication) and QR codes, advertisers can provide interactive experiences to consumers, allowing them to engage with the advertisement on their mobile device. This integration not only increases engagement but also provides valuable data and insights for advertisers.

Local special circumstances: Northern Europe is known for its high level of technological advancement and digital infrastructure. This provides a favorable environment for the growth of the Digital Out-of-Home Advertising market. The region has a high internet penetration rate and a tech-savvy population, which makes it easier for advertisers to reach their target audience through digital out-of-home advertising. Additionally, the region has a strong culture of outdoor advertising, with many cities known for their iconic billboards and digital screens. This makes Northern Europe an ideal market for the expansion of digital out-of-home advertising.

Underlying macroeconomic factors: The strong economy and high disposable income in Northern Europe contribute to the growth of the Digital Out-of-Home Advertising market. With a prosperous population, advertisers have a larger pool of potential customers who are willing to spend on products and services. This creates a favorable environment for advertisers to invest in digital out-of-home advertising to reach their target audience effectively. In conclusion, the Digital Out-of-Home Advertising market in Northern Europe is experiencing significant growth and development due to customer preferences for dynamic and interactive content, the adoption of programmatic advertising, the integration of digital out-of-home advertising with mobile devices, local special circumstances such as technological advancement and a strong culture of outdoor advertising, and underlying macroeconomic factors such as a strong economy and high disposable income.

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.