A
billboard is a large outdoor advertising structure generally found in
high-traffic areas such as alongside busy roads or highways. It
presents huge advertisements to passing drivers and pedestrians.
Billboards are highly visible in the top designated market areas
showing large distinctive visuals with ostensibly witty slogans.
These advertisements are designed to catch a person’s attention
very quickly and create a memorable impression in the reader’s
mind. These advertisements usually consist of few words, in large
print, and an arresting or humorous image in a brilliant color so
that they can be read easily by the people driving at a high speed on
highways.
Billboard
and outdoor advertising market is segmented on the basis of its
types, applications and geography. Based on its type, the market is
segmented into painted billboards, digital; billboards, mobile
billboards, multi-purpose billboards and other types of billboards.
In painted billboards, the image is projected on the series of paper
panels. Digital billboards are created from computer programs and
software. They are designed to display moving text, different
displays from the same company. The continuously running text ensures
wide exposure and maximum impact to target audiences. Mobile
billboards can be placed wherever there is heavy foot traffic due to
an event such as railway stations, airports, sport arenas and
convention centers among others. Multi-purpose billboards can
integrate its advertising purpose with its public lighting and
telecommunications antenna support.
Other types of billboards include the billboard bicycle attached to
the back of a mobile billboard or bicycle or a special advertising
trailer to lift huge banners. Mechanical billboards and 3-D
billboards are also included in the category with some extra nice
features. Based on its applications, the market is segmented into
highways, railway stations, big name advertising and tobacco
advertising. They are also used for non-commercial purpose which
includes the government agencies and non-profit organizations to
communicate with the public. Geographically, North America is
expected to lead the market due to growing digitization in the
existing technologies during the forecast period. Asia Pacific is
expected to have a steady growth in the market during the forecast
period due to rising infrastructure development and advertisement
trends.
The
major factors driving the global billboard and outdoor advertising
market include rising urbanization, digital outdoor advertising and
global economic development. In addition, additional factors such as
low-cost advertising medium, improved audience measurement and
commuting trends, are further bolstering the global market. However,
the market growth is limited by various regulatory norms and
standards enforced by governments worldwide. Furthermore, digital
displays are not a suitable choice for most outdoor billboards
advertisings and thus it hinders market growth. In addition,
stringent government restriction on LCD advertising screens
pertaining to limiting light/color intensity to ensure drivers safety
or reduce annoyance for residential homes at night is restricting
market growth.
The
major opportunity for the market lies in large area display
technologies which can be an effective substitute for the existing
screen printed electroluminescent (EL) displays. Some of the major
players in the global billboard and outdoor advertising market
include Capitol Outdoor, LLC, Outdoor Advertising Association of
America, Inc., Formetco Incorporated, Daktronics Dr., and Watchfire
Signs., among others.
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