The digital outdoor advertising sector is witnessing a profound transformation owing to the confluence of advanced technologies and improved control of remote products with the help of smart computing devices such as mobile phones. Analysts predict that the transformation could be positive for the digital outdoor advertising industry.
The industry has witnessed a massive rise in investment in the past decade and several mergers and acquisitions happened. Google acquired DoubleClick, an online advertising service firm, for US$3.1 bn in cash in 2008. Deal this big hints at the high expectations that technology giants have from the online ads. Moreover, several investment companies have also made significant investments in the digital marketing sector in the recent past. Several instances in the recent years make it clear that investment companies are also positive about the promising growth prospects of the global outdoor digital advertisement industry.
The one factor that is driving this evolution is the industry’s financial technology. In the U.S., for instance, the increased influx of big data compelled the advertisement industry to develop outdoor digital advertising, which allowed digital advertisers to perform better in terms of targeting users with the help of personalized advertisements. With the use of real-time data in advertisements, it became easier for companies to capture consumer attention and influence their behavior. Interaction with consumers also became easier for brands through digital screens. The high rate of success that the outdoor digital advertising medium is gaining has also led to the development of innovative ways of attracting consumers through more disruptive advertising concepts such as digital advertising distribution platform.