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Static OOH demand remains strong, dominating 70% market inventory: report

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TLDR:

  • Static OOH accounts for 70% of current OOH market inventory.
  • Improvement in static OOH technology and procedures is necessary for future growth.

Demand for static OOH remains strong, accounting to 70% of available market inventory: report

According to a report by Broadsign, static out-of-home (OOH) continues to be in high demand, representing 70% of the current OOH market inventory. While digital OOH has gained popularity in recent years, participants in the industry cited complexity in OOH procedures as a hindrance to productivity. Only 17% of respondents reported efficient team operations, and almost half expressed the need to improve workflows. Operational inefficiencies were identified as a barrier to competition by 53% of participants.

The report highlighted the importance of modernizing static technologies and procedures to increase OOH’s share of advertising revenue in the future. Emerging technologies such as automation tools, data, and analytics solutions were seen as key drivers for growth in the static OOH sector. Participants expressed a strong focus on data and analytics, as well as the need for real-time technology insights regarding inventory availability.

According to the report, 87% of respondents believed that greater automation in processes would benefit their organizations significantly. Data-driven targeting and data measurement and attribution were identified as trends and technologies expected to have a major impact on the industry’s expansion going forward.

In terms of sustainability, participants expressed a commitment to implementing more sustainable business practices to achieve carbon neutrality in the future. Many had pledged to reduce their carbon footprint, with initiatives such as using energy-efficient LEDs for signage, utilizing recycled materials, and recycling or donating vinyl after campaigns.

The report gathered insights from over 125 OOH professionals across 60 companies worldwide, with a focus on organizations running hybrid static/digital networks. Catherine Lee, a Broadsign product marketing specialist, emphasized the importance of adapting with the times while continuing to play an essential role in the OOH market. The report’s findings point towards an optimistic future for the industry if it can evolve and overcome current challenges.

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