The digital out-of-home market will be worth more than $50bn by 2026, according to a forecast by Alfi, marking a near-$10bn increase on its previous 2020 valuation.
The research by the AI enterprise SaaS platform revealed that 95% of ad executives interviewed expected the DOOH sector to grow over the next two years, with 51% expecting dramatic expansion. A further 16% expected growth to be worth between $55bn and $60bn, and 14% estimated it will be even greater.
Looking further ahead to 2026, half of respondents expected dramatic increases across DOOH spend, while 40% expected it to increase slightly. The main reason given for such levels of growth was due to larger proportions of budget being allocated to digital advertising, a view shared by 66% of those interviewed.
Kevin Buchler, vice-president UK operations, Alfi, said: “There is little doubt that the DOOH advertising market is enjoying strong growth.
"Society as a whole is becoming increasingly digitised, and the advertising sector is looking to make greater use of technology to deliver stronger, more personalised and effective campaigns, and greater transparency around results. The unique qualities of DOOH advertising in meeting these trends helps to explain why the sector is enjoying such strong growth.”
Alfi's research saw input from senior ad execs across the US, UK, France, Germany and Asia.