Traditional Out-of-Home Advertising - Eastern Africa

  • Eastern Africa
  • Ad spending in Eastern Africa's Traditional Out-of-Home Advertising market is forecasted to hit US$101.00m in 2024.
  • Ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 2.16%, leading to a projected market volume of US$112.40m by 2029.
  • The average ad spending per capita in Eastern Africa's Traditional Out-of-Home Advertising market is expected to reach US$0.22 in 2024.
  • In Eastern Africa, Kenya's Traditional Out-of-Home Advertising market is experiencing a shift towards digital platforms to reach tech-savvy consumers.

Key regions: Germany, Europe, Asia, France, China

 
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Analyst Opinion

The Traditional Out-of-Home Advertising market in Eastern Africa is experiencing significant growth and development due to changing customer preferences and local special circumstances. Customer preferences in Eastern Africa are shifting towards more traditional forms of advertising, such as billboards and posters, as consumers seek out tangible and visually impactful messages. This preference for traditional out-of-home advertising is driven by the fact that it is easily accessible and can reach a wide audience, making it an effective way for businesses to promote their products and services. Additionally, traditional out-of-home advertising allows for creative and eye-catching designs that can capture the attention of passersby. In terms of trends in the market, there is a growing demand for digital out-of-home advertising in Eastern Africa. This trend is driven by advancements in technology and the increasing availability of digital screens and billboards. Digital out-of-home advertising offers advertisers the ability to display dynamic and interactive content, making it more engaging and memorable for consumers. This trend is expected to continue as more businesses recognize the benefits of digital out-of-home advertising in reaching their target audience. Another trend in the market is the use of location-based advertising. With the increasing availability of GPS technology and mobile devices, advertisers can now target specific locations and deliver personalized messages to consumers in real-time. This trend is particularly relevant in Eastern Africa, where the majority of the population owns a mobile phone and relies on it for daily activities. By leveraging location-based advertising, businesses can effectively reach their target audience and drive foot traffic to their stores or events. Local special circumstances in Eastern Africa also contribute to the development of the traditional out-of-home advertising market. The region has a large and growing population, which presents a significant market opportunity for advertisers. Additionally, Eastern Africa is experiencing rapid urbanization and infrastructure development, resulting in an increase in the number of public spaces and transportation hubs where out-of-home advertising can be displayed. These factors create a favorable environment for the growth of the traditional out-of-home advertising market in the region. Underlying macroeconomic factors, such as economic growth and increasing consumer spending, also play a role in the development of the traditional out-of-home advertising market in Eastern Africa. As the economy grows and disposable incomes rise, businesses have more resources to allocate towards advertising and marketing activities. This provides an opportunity for the traditional out-of-home advertising market to expand and cater to the growing demand from businesses. In conclusion, the Traditional Out-of-Home Advertising market in Eastern Africa is developing due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The shift towards traditional forms of advertising, such as billboards and posters, along with the growing demand for digital and location-based advertising, is driving the growth of the market. Additionally, the region's large and growing population, rapid urbanization, and increasing consumer spending contribute to the favorable environment for the development of the traditional out-of-home advertising market in Eastern Africa.

Methodology

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.

Overview

  • Ad Spending
  • Key Players
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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