Digital Out-of-Home Advertising - Serbia

Ad spending within the Digital Out-of-Home Advertising market in Serbia is forecasted to reach US$14.33m by 2024.
The expected annual growth rate (CAGR 2024-2030) for ad spending is 8.76%, leading to a projected market volume of US$23.72m by 2030.
In 2024, the projected market volume is US$4.37bn, with the majority of ad spending originating from China.
The anticipated average ad spending per capita in the Digital Out-of-Home Advertising market is set to be US$2.02 in 2024.
Serbia's Digital Out-of-Home Advertising market is rapidly expanding, leveraging innovative technology to target consumers effectively in urban centers.

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 Serbia is experiencing significant growth and development due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Serbia are shifting towards more interactive and engaging advertising experiences. Traditional static billboards are being replaced by dynamic digital displays that can deliver personalized content to consumers. This allows advertisers to target specific demographics and tailor their messages accordingly. Additionally, consumers are increasingly seeking out unique and immersive experiences, and digital out-of-home advertising provides an opportunity for brands to create memorable moments that resonate with their target audience. Trends in the market are also driving the growth of digital out-of-home advertising in Serbia. One key trend is the integration of digital technology with physical spaces. Digital displays are being installed in high-traffic areas such as shopping malls, airports, and train stations, allowing advertisers to reach a larger audience. Furthermore, advancements in technology have made it easier for advertisers to create and manage dynamic content, enabling real-time updates and interactive features. This flexibility and agility make digital out-of-home advertising a more attractive option for brands looking to maximize their reach and impact. Local special circumstances in Serbia are contributing to the development of the digital out-of-home advertising market. The country has a growing tourism industry, with an increasing number of international visitors each year. Digital out-of-home advertising offers a unique opportunity for advertisers to target both domestic and international tourists, showcasing the country's attractions, services, and products. Additionally, Serbia has a young and tech-savvy population that is receptive to digital advertising. This demographic is more likely to engage with interactive and visually appealing content, making digital out-of-home advertising an effective way to capture their attention. Underlying macroeconomic factors are also playing a role in the growth of the digital out-of-home advertising market in Serbia. The country's economy has been steadily improving, leading to increased consumer spending and business investments. This provides advertisers with more resources to allocate towards marketing and advertising campaigns, including digital out-of-home advertising. Furthermore, Serbia's strategic location in the heart of the Balkans makes it an attractive market for international brands looking to expand their reach in the region. This influx of global brands and investments further fuels the demand for digital out-of-home advertising. In conclusion, the Digital Out-of-Home Advertising market in Serbia is experiencing growth and development due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. As customer preferences continue to evolve and technology advances, digital out-of-home advertising is expected to play an increasingly important role in Serbia's advertising landscape.

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.