The Traditional Out-of-Home Advertising market in BRICS 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: Customers in the BRICS countries are increasingly drawn to traditional out-of-home advertising due to its tangible and impactful nature. With the rise of digital advertising, traditional out-of-home advertising provides a refreshing and memorable way for brands to connect with their target audience. Additionally, customers appreciate the wide reach of out-of-home advertising, as it allows them to engage with brands in their daily lives, whether it's on their commute, in public spaces, or at popular events.
Trends in the market: One notable trend in the BRICS market is the integration of technology into traditional out-of-home advertising. Digital billboards, interactive displays, and augmented reality experiences are becoming more prevalent, enhancing the overall effectiveness and engagement of these advertising campaigns. This trend is driven by the increasing availability and affordability of digital signage technology, as well as the desire for brands to differentiate themselves in a crowded advertising landscape.
Local special circumstances: Each BRICS country has its own unique set of circumstances that contribute to the development of the traditional out-of-home advertising market. For example, in Brazil, the hosting of major international events such as the FIFA World Cup and the Olympic Games has created a surge in demand for out-of-home advertising, as brands seek to capitalize on the increased visibility and foot traffic. In India, the rapid urbanization and population growth have led to the expansion of cities and the construction of new infrastructure, providing ample opportunities for out-of-home advertising placements.
Underlying macroeconomic factors: The growth of the traditional out-of-home advertising market in BRICS is also influenced by underlying macroeconomic factors. As these countries continue to experience economic growth and rising disposable incomes, businesses are allocating more of their marketing budgets towards advertising. Additionally, the increasing urbanization and modernization of BRICS countries have led to a greater concentration of people in urban areas, creating a larger audience for out-of-home advertising. In conclusion, the Traditional Out-of-Home Advertising market in BRICS is developing at a rapid pace due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. As brands continue to recognize the value and effectiveness of traditional out-of-home advertising, we can expect this market to further expand and evolve in the coming years.
Data coverage:
Data encompasses enterprises (B2B). Figures are based on traditional out-of-home advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers offline out-of-home advertisements such as billboards, street furniture, transit and transport displays, and 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.
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