Traditional Out-of-Home Advertising - Vietnam

Vietnam is projected to see ad spending in the Traditional Out-of-Home Advertising market reach US$59.48m in 2024.
The market is expected to exhibit an annual growth rate (CAGR 2024-2030) of 1.67%, leading to a projected market volume of US$65.69m by 2030.
The average ad spending per capita in the Traditional Out-of-Home Advertising market is projected to be US$0.60 in 2024.
Traditional Out-of-Home Advertising in Vietnam is thriving due to the country's rapidly growing economy and increasing urban population, creating ample opportunities for brands to reach consumers.

Definition:
Traditional Out-of-Home (OOH) Advertising refers to all advertising revenues generated by traditional (physical) out-of-home media in public areas. The Traditional Out-of-Home Advertising market includes all ad spending on large outdoor formats, street furniture, transit and transportation, and others.

Additional information:
Traditional 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. Key players in Traditional 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 billboards (bulletins, large banners, inflatable billboards)
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)

Digital billboards (city-light boards)
Digital street furniture (city-light posters, 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)
Event- and promotion-related media

Traditional Out-of-Home Advertising market in Vietnam has been experiencing significant growth in recent years.

Customer preferences: Vietnamese consumers have shown a strong preference for traditional out-of-home advertising methods such as billboards, posters, and transit advertising. This is due to the fact that these methods are highly visible and can effectively reach a large audience. Additionally, traditional out-of-home advertising allows for creative and eye-catching designs that capture the attention of consumers.

Trends in the market: One of the key trends in the traditional out-of-home advertising market in Vietnam is the increasing use of digital technology. Digital billboards and screens are becoming more common, providing advertisers with the opportunity to display dynamic and interactive content. This trend is driven by the growing popularity of smartphones and the increasing use of digital media by consumers. Another trend in the market is the integration of traditional out-of-home advertising with other marketing channels. Advertisers are now combining traditional methods with digital advertising, social media campaigns, and experiential marketing to create a more integrated and impactful advertising strategy. This trend is driven by the need to engage consumers across multiple touchpoints and create a cohesive brand experience.

Local special circumstances: Vietnam has a rapidly growing middle class and a young population, which presents a unique opportunity for advertisers. The middle class has more disposable income and is increasingly looking for new products and experiences. The young population is highly connected and receptive to advertising messages, making them a key target market for advertisers. Furthermore, Vietnam has a strong tourism industry, attracting millions of international visitors each year. This presents an opportunity for advertisers to reach a diverse and global audience through traditional out-of-home advertising methods. Advertisers can leverage popular tourist destinations, transportation hubs, and cultural events to reach both local and international consumers.

Underlying macroeconomic factors: Vietnam's strong economic growth and increasing urbanization are key factors driving the development of the traditional out-of-home advertising market. As the economy continues to expand, more businesses are investing in advertising to promote their products and services. The rapid urbanization of Vietnam's cities also provides advertisers with a larger and more concentrated audience. Additionally, the government's efforts to improve infrastructure and transportation systems in Vietnam are contributing to the growth of the traditional out-of-home advertising market. Improved roads, highways, and public transportation networks increase the visibility and accessibility of out-of-home advertising, allowing advertisers to reach a larger audience. In conclusion, the traditional out-of-home advertising market in Vietnam is developing due to customer preferences for visible and creative advertising methods, the integration of digital technology, the unique local circumstances of a growing middle class and a young population, and the underlying macroeconomic factors of strong economic growth and urbanization.

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.

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.