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Key regions: India, France, United States, United Kingdom, China
The Digital Out-of-Home Advertising market in South Korea is experiencing steady growth and development.
Customer preferences: Customers in South Korea are increasingly drawn to digital out-of-home advertising due to its dynamic and interactive nature. Digital screens offer the opportunity for engaging and eye-catching content, which captures the attention of passersby. Additionally, the ability to target specific demographics and locations with tailored advertisements is appealing to advertisers and brands.
Trends in the market: One of the key trends in the Digital Out-of-Home Advertising market in South Korea is the increasing adoption of programmatic advertising. Programmatic advertising allows for real-time bidding and automated buying of ad space, enabling advertisers to optimize their campaigns and reach their target audience more effectively. This trend is driven by the growing availability of digital screens and the desire for more efficient and data-driven advertising strategies. Another trend in the market is the integration of mobile technology with digital out-of-home advertising. South Korea has one of the highest smartphone penetration rates in the world, and advertisers are leveraging this by incorporating mobile interactivity into their campaigns. This includes features such as QR codes, NFC technology, and augmented reality, which allow consumers to engage with the advertisement using their smartphones.
Local special circumstances: South Korea has a highly urbanized population, with a significant proportion of people living in cities. This concentration of population in urban areas provides a favorable environment for digital out-of-home advertising, as there are more opportunities to reach a large number of people. The high population density also means that there is a greater demand for advertising space, leading to an increase in the number of digital screens being installed in public spaces.
Underlying macroeconomic factors: South Korea has a strong economy and a high level of technological development. This creates a favorable environment for the growth of the Digital Out-of-Home Advertising market, as advertisers have the resources and infrastructure to invest in digital screens and innovative advertising strategies. Additionally, South Korea has a well-established advertising industry, with a history of creativity and innovation. This provides a supportive ecosystem for the development of digital out-of-home advertising. In conclusion, the Digital Out-of-Home Advertising market in South Korea is experiencing growth and development due to customer preferences for dynamic and interactive advertising, trends such as programmatic advertising and mobile integration, local special circumstances including high urbanization and population density, and underlying macroeconomic factors such as a strong economy and a well-established advertising industry.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)