Out-of-Home Advertising - Nordics

Out-of-Home Advertising market in the Nordics is forecasted to reach US$511.70m in 2024.
The largest market within the Nordics is Digital Out-of-Home Advertising with a market volume of US$321.20m in 2024.
When compared globally, United States is expected to lead in ad spending with US$9.34bn in 2024.
The projected average ad spending per capita in the Out-of-Home Advertising market in the Nordics is US$18.24 in 2024.
In the Nordics, the Out-of-Home Advertising market is seeing a shift towards digital billboards and interactive displays to engage with tech-savvy consumers.

Definition:
Out-of-Home (OOH) Advertising refers to any advertising in public areas. OOH Advertising includes all ad spending on large formats (e.g., billboards), street furniture (e.g., bus shelters), transit and transportation (e.g., bus and commuter rail displays), and place-based media (e.g., traditional ambient media at the point of sale). Out-of-Home Advertising is divided into two markets: Traditional OOH Advertising and Digital OOH Advertising.

Structure:

The Traditional Out-of-Home Advertising market refers to all revenues from advertising in traditional (physical) out-of-home media. The content in this market only refers to non-digital revenues.
Digital Out-of-Home Advertising refers to all revenues generated from internet-connected out-of-home advertisements. The content in this market only refers to digital revenues.

Additional information:
Out-of-Home (OOH) 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. Additional definitions of Traditional Out-of-Home (OOH) Advertising and Digital Out-of-Home (DOOH) Advertising can be found on the respective pages. Key players in 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.

Traditional & digital billboards
Traditional & digital street furniture
Traditional & digital transit & transportation
Traditional & digital place-based media

Movie theater advertising
Event- and promotion-media

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

Customer preferences: Customers in the Nordics have shown a strong preference for Out-of-Home Advertising as a means of reaching a wide audience. This preference can be attributed to the fact that Out-of-Home Advertising is highly visible and has a long-lasting impact on consumers. Additionally, customers appreciate the creative and innovative nature of Out-of-Home Advertising campaigns, which often utilize unique and eye-catching designs to capture attention.

Trends in the market: One of the key trends in the Out-of-Home Advertising market in the Nordics is the increasing use of digital platforms. Digital Out-of-Home Advertising allows for more dynamic and interactive campaigns, enabling advertisers to engage with consumers in new and exciting ways. This trend is driven by the growing availability and affordability of digital signage, as well as the increasing demand for personalized and targeted advertising. Another trend in the market is the integration of Out-of-Home Advertising with mobile technology. Advertisers are leveraging the ubiquity of smartphones to deliver personalized and location-based messages to consumers, enhancing the effectiveness of their campaigns.

Local special circumstances: The unique geography and population density of the Nordics present special circumstances for the Out-of-Home Advertising market. The region is characterized by vast open spaces and a relatively low population density, which means that Out-of-Home Advertising has the potential to reach a large audience. Additionally, the Nordics have a strong outdoor culture, with people spending a significant amount of time outdoors for leisure activities. This presents opportunities for advertisers to engage with consumers in a contextually relevant and impactful manner.

Underlying macroeconomic factors: The growth and development of the Out-of-Home Advertising market in the Nordics can be attributed to several underlying macroeconomic factors. Firstly, the region has a strong and stable economy, which provides a favorable business environment for advertisers. Secondly, the high level of digital connectivity and technological infrastructure in the Nordics enables the seamless execution of Out-of-Home Advertising campaigns. Finally, the Nordics have a well-educated and affluent population, which makes them an attractive target market for advertisers.

Data coverage:

Data encompasses enterprises (B2B). Figures are based on out-of-home (OOH) advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers traditional out-of-home advertising (offline out-of-home advertisements) and digital out-of-home advertising (internet-connected out-of-home advertisements).

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.