Alfi Study Reveals Ad Ecosystems and Networks, Plus the Rise of Smart Cities, will Fuel Strong Growth in Digital Out of Home (DOOH) Advertising

Rhea-AI Summary

Alfi's Latest Study Highlights Growth in Digital Out of Home Advertising

According to a new study by Alfi (NASDAQ:ALF), 65% of advertising executives predict the digital out of home (DOOH) advertising market will be valued between US$50 billion and US$55 billion by 2026. Moreover, 74% of executives see growth opportunities in expanding ad ecosystems, particularly in smart cities. Increased digitalization during the COVID-19 crisis has driven demand for interactive and targeted advertising, allowing brands to engage audiences more effectively.

Positive

• 65% of executives foresee DOOH market growth to US$50-$55 billion by 2026.
• 74% believe ad ecosystem expansion offers significant growth potential.
• Increased consumer interest in interactive digital advertising.

Negative

• None.

65% of Advertising Executives Believe Market will be Worth between US$50 Billion and US$55 Billion by 2026, While 30% Expect it to Surpass US$55 Billion

MIAMI BEACH, FL / ACCESSWIRE / August 16, 2021 / Seventy-four percent of global senior advertising executives strongly believe developing and expanding ad ecosystems and networks, in line with the rise of smart cities, will offer explosive growth opportunities in the Digital Out of Home (DOOH) advertising market, according to new research from Alfi (NASDAQ:ALF), an AI enterprise SaaS advertising platform. Furthermore, 93% believe that society has become more digitized during the COVID-19 crisis, which will fuel expansion in the DOOH advertising market.

"Digital technology in outdoor advertising offers advertisers and brands the advantage of reaching target audiences with relevant content and increased interaction levels at a relatively lower cost than traditional advertising," said Paul Pereira, CEO, Alfi. "Increased popularity of these features and reliance on intelligent screens that include our software is preparing brands to capitalize on the shifting advertising market."

Additionally, six out of ten (61%) senior advertising executives interviewed believe strongly that given the inherent characteristics of outdoor advertising, digital technology is becoming well integrated with the changes in consumers' interaction with advertisers.

Out-of-home (OOH) advertising is traditional (i.e., non-digital and non-programmatic) outdoor advertising, targeting consumers when they are in public places, commuting to work, or in specific commercial locations. DOOH advertising is OOH powered by technology that provides features including tracking, retargeting, personalization of ads, and greater attribution and measurement of campaigns.

"As consumer preferences and lifestyles continue to change, the focus for brands and advertisers should remain on catering to people's unique needs," added Pereira. "Alfi is already seeing an increase in consumers' interest in, and willingness to, interact with digital advertising outside of their homes when the content is interesting and well-targeted."

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

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

CONTACTS:
Alfi Inc. Media Contacts
Danielle DeVoren / Laura Schooler
KCSA Strategic Communications
Alfi@kcsa.com

Alfi Inc. UK Media Contact
Phil Anderson / Taylor Marriott at Perception A
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 did Alfi's study reveal about the future of the DOOH advertising market?

Alfi's study found that 65% of advertising executives expect the DOOH advertising market to reach between US$50 billion and US$55 billion by 2026, with 30% anticipating it will exceed US$55 billion.

How has the COVID-19 pandemic impacted the DOOH advertising market according to Alfi?

The study indicates that 93% of executives believe the pandemic has accelerated the digitalization of society, which is expected to fuel growth in the DOOH advertising market.

What percentage of executives believe in the importance of ad ecosystem expansion?

Seventy-four percent of senior advertising executives strongly believe that developing ad ecosystems will create explosive growth opportunities in the DOOH advertising market.

What features do digital technologies bring to outdoor advertising according to Alfi?

Digital technologies in outdoor advertising offer improved targeting, tracking, retargeting, personalization, and greater measurement of campaigns.

What is Alfi's primary focus according to its recent press release?

Alfi focuses on providing transparency and accountability in the digital out of home advertising marketplace, leveraging its AI platform for targeted advertising.