Alfi Research Suggests Digital Out of Home (DOOH) Advertising Spend to See Dramatic Increase in Its Overall Share of the Out-of-Home (OOH) Advertising Market

Rhea-AI Summary

Alfi (NASDAQ:ALF) reports a growing trend in Digital Out of Home Advertising (DOOH), expected to rise from 28.3% of OOH ad spend in 2019 to over 33% by 2025. The global DOOH market was valued at approximately $41.06 billion in 2020, with projections to reach $50-$60 billion by 2026. Key benefits driving this growth include added variety (56% of executives expect increased importance), enhanced campaign relevancy (53%), and fewer restrictions (51%). Alfi aims to provide transparency and accountability in digital advertising.

Positive

• Significant growth forecast for DOOH advertising from 28.3% of OOH ad spend to over 33% by 2025.
• Global DOOH market projected to rise from $41.06 billion in 2020 to between $50 billion and $60 billion by 2026.
• Strong demand for benefits like added variety (56% of executives expect importance to increase), campaign relevancy (53%), and fewer ad restrictions (51%).

Negative

• None.

Benefits of DOOH advertising likely to see the biggest influences are ‘added variety' and ‘increased opportunity for campaign relevance'

MIAMI BEACH, FL / ACCESSWIRE / September 8, 2021 / In 2019, Digital Out of Home Advertising (DOOH) accounted for approximately 28.3% of OOH ad spend, however 48% of advertising executives believe it will account for over 33% by 2025, according to new research from Alfi (NASDAQ:ALF), an AI enterprise SaaS advertising platform. Furthermore, one in twenty ad executives think OOH advertising spend will account for over 40%.

"DOOH advertising is one of the fastest growing and most dynamic trends in the advertising sector and it will only intensify in the coming months and years," said Paul Pereira, CEO of Alfi. "Its ability to deliver high impact and tailored campaigns, with comprehensive and detailed reporting means more advertising executives are looking to use it in their strategies and programs."

As more advertisers seek ways to find the right person at the right time with the right message, OOH technologies and solutions for enhanced tracking, retargeting, personalization, and greater campaign attribution and measurement are being signaled as priority solutions. The global DOOH advertising market was worth approximately $41.06 billion in 2020, and, by 2026, 81% of surveyed advertising executives predict it will rise to between $50 billion and $60 billion.

Another key reason for growth in the DOOH market is the many benefits it offers and how those are likely to increase in importance. Fifty-six percent of surveyed ad executives expect the importance of the added variety DOOH advertising offers to increase dramatically between now and 2024, and 53% said the same about the campaign relevancy it delivers. Half (51%) said they expect the benefit of DOOH having fewer restrictions such as no ad-blockers, which personal devices can have, to increase dramatically.

Benefits of digital out of home advertising	Percentage of advertising executives who think the importance of this benefit will increase dramatically over the next three years	Percentage of advertising executives who think the importance of this benefit will increase slightly over the next three years
Added variety	56%	32%
Increased opportunities for campaign relevancy	53%	34%
Fewer restrictions	51%	30%
Detailed reporting	47%	37%
Lower management costs	40%	46%

"Digital technology is becoming more and more integrated with the changes in consumers' interaction with advertisers, and there is more to come," continued Pereira. "Now it is a matter of finding the right partner that can not only provide these benefits, but also house them under one pane of glass, saving time and money."

Alfi provides data-rich reporting functionality that informs the advertisers that someone viewed their ad, the number of views, and each viewer's reaction to the ad. Advertisers are increasingly demanding improved performance and capabilities from the ad technology they utilize. Alfi delivers for advertisers with analytics, accountability, transparency, proof of engagement and actual impressions.

Methodology

Commissioned by Alfi, PureProfile, a global research company, conducted 100 interviews amongst 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 trend in DOOH advertising according to Alfi?

Alfi reports that Digital Out of Home Advertising (DOOH) is expected to increase its share of Out of Home (OOH) advertising from 28.3% in 2019 to over 33% by 2025.

What is the projected growth of the global DOOH market?

The global DOOH market, valued at approximately $41.06 billion in 2020, is projected to reach between $50 billion and $60 billion by 2026.

What benefits are driving the growth of DOOH advertising?

Key benefits include added variety, increased campaign relevancy, and fewer ad restrictions, with 56%, 53%, and 51% of advertising executives respectively expecting these to become significantly more important.

What does Alfi provide in the digital advertising space?

Alfi provides solutions that bring transparency and accountability to the digital out-of-home advertising market, utilizing AI for targeted advertising.