According to Ireland-based Research and Markets, a market intelligence firm that covers a vast array of industries, the digital out-of-home advertising market is expected to grow in double digits in each of the next five years.
According to the report, released earlier this year, the DOOH market is expected to maintain a compound annual growth rate of 11 percent starting this year and running through 2024.
The increase is being driven primarily by a rise in urban populations around the globe and by global economic development.
The United States, the report says, leads the globe in terms of dollars spent on DOOH, followed by China and Japan. The report says the U.S. is also No. 1 in terms of the return on investment of advertising dollars spent.