Advertising Budgets Rise Along with Concerns Around Ethical Standards in Digital Out of Home Sector, Alfi Study Finds

Rhea-AI Summary

Alfi (NASDAQ:ALF) highlights a significant shift in the Digital Out of Home (DOOH) advertising sector, as 85% of executives express concern over ethical standards. Research from Alfi indicates the DOOH market was valued at approximately $41.06 billion in 2020, with projections to reach between $50 billion and $55 billion by 2026. Alfi's technology ensures compliance with GDPR, CCPA, and HIPAA by detecting behavior without collecting personal data. The company aims to lead a privacy-conscious advertising revolution, addressing ethical concerns in the industry.

Positive

• DOOH market projected growth from $41.06 billion in 2020 to $50-$55 billion by 2026.
• Alfi's technology complies with GDPR, CCPA, and HIPAA standards without storing personal data.
• 85% of advertising executives are prioritizing ethical standards, aligning with Alfi's mission.

Negative

• None.

85% of advertising executives have shifted their focus towards ethical standards in DOOH advertising

MIAMI BEACH, FL / ACCESSWIRE / October 12, 2021 / The Digital Out of Home (DOOH) market was estimated to be worth around $41.06 billion by the end of 2020, according to new research from Alfi (NASDAQ:ALF), an AI enterprise SaaS advertising platform, however, nearly two out of three (65%) advertising executives predict value will rise to between $50 billion and $55 billion by 2026, while 30% think it will be bigger.

The study also found that 85% of advertising executives are worried about the level of ethical standards DOOH advertising companies are adhering to, with 47% stating they are "very concerned" about ethics around DOOH advertising in terms of the use of cookies, the storage of personal data, and facial images.

"The DOOH advertising market has not experienced a technological revolution in decades, so naturally it has work to do in order to address concerns with operations and scalability with modern technology," said Paul Pereira, CEO, Alfi. "Privacy and respect are key factors that not only the industry should be aware of but also the leaders of the pack."

Alfi's next generation technology can detect behavior without collecting or storing personal data or facial images. It sets new standards by providing precise targeting information to advertisers by collecting information in non-intrusive ways that are compliant with GDPR, CCPA, and HIPAA. Since both GDPR and CCPA focus on the collection and storage of personal data, the fact that Alfi does not collect any personal identifiers or information makes it a compliant pioneer in the revolution of the OOH sector.

"As cookies slowly come to an end and consumers demand improved experiences, it is important for advertisers to first ensure that their DOOH partners have ethics and respect ingrained in their fabric and fully compliant with all GDPR, CCPA and HIPAA standards, before starting any campaign," concluded Pereira.

Alfi's proprietary platform utilizes perceptual details to detect a face and predict the age and gender of the person looking at the screen, and then serves content based on their emotions to the first set of ads. The company does not track or identify anyone, nor does it record or store facial images or videos. Alfi believes this type of anonymized, yet targeted advertising is the future of the industry, especially as the industry moves away from cookies and deep collection of consumers' personal data and browsing history.

Methodology

Alfi commissioned market research company, PureProfile, to survey 100 senior advertising professionals from across the U.S., U.K., France, Germany, and Asia. Interviews were conducted online in June 2021

About Alfi Inc.

Alfi, Inc. provides solutions that bring transparency and accountability to the digital out-of-home advertising marketplace. Since 2018, Alfi, Inc. has been developing its artificial intelligence advertising platform to deliver targeted advertising in an ethical and privacy-conscious manner. For more information, please visit: https://www.getalfi.com

Alfi Inc. U.S. Media Contacts

Danielle DeVoren / Laura Schooler
KCSA Strategic Communications
Alfi@kcsa.com

Alfi Inc. U.K. Media Contact

Perception A
Phil Anderson / Taylor Marriott
07767 491 519 / 07983 335 021

Alfi Inc. Investor Relations

TraDigital IR
Kevin McGrath
+1-646-418-7002
kevin@tradigitalir.com

SOURCE: Alfi, Inc.

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FAQ

What is the current value of the DOOH advertising market according to Alfi?

As of 2020, the DOOH advertising market was valued at approximately $41.06 billion.

What ethical concerns are driving changes in the DOOH advertising sector?

85% of advertising executives are concerned about ethical standards, particularly regarding data privacy and the use of cookies.

How does Alfi's technology ensure compliance with privacy laws?

Alfi's technology detects behavior without collecting or storing personal data, ensuring compliance with GDPR, CCPA, and HIPAA.

What growth is expected in the DOOH market by 2026?

The DOOH market is projected to grow to between $50 billion and $55 billion by 2026.