Billboard and outdoor advertising covers static and digital media installations that display paid commercial messaging in public and high-traffic locations, including roadside billboards, transit shelters and stations, street furniture, and screens placed in malls and other venues. Buyers are brand advertisers and their media-buying agencies across categories such as retail, travel, financial services and consumer goods, who use these placements to reach audiences outside the home. Campaigns are typically booked by location, duration and format instead of by individual viewer, a booking model distinct from digital and broadcast media bought on audience-level targeting.
Expansion of programmatic Digital Out-of-Home buying
Expansion of programmatic Digital Out-of-Home buying is the largest single contributor to the market's growth over the forecast period, and the study rates its impact high. Against a market growing at 6.29% a year, the format lines exposed to it move fastest: Digital Out-of-Home Displays compounds at 10.67%, taking its share of revenue from 20% to 29% and its value from USD 8.03 billion to USD 20.3 billion.
The study also runs a bull case: digital conversion and programmatic adoption run faster than the base case, and advertiser budgets shift into outdoor from broadcast and print at a quicker pace. That path ends 2034 at USD 77.55 billion, above the USD 69.99 billion base case.
The downside is specific. Digital conversion slows and municipal permitting tightens, while advertiser budgets shift toward online-only channels faster than the base case assumes, and 2034 revenue lands at USD 62.43 billion. Billboards is the drag, 41.99% of the 2025 base compounding at 4.48% while the market runs at 6.29%.
Additional Findings
* * * By format, the largest line in 2025 was Billboards, at 41.99% of revenue and USD 16.86 billion. * The fastest format line is Digital Out-of-Home Displays, forecast to compound at 10.67% through the period. * By technology, Static / Non-Digital led in 2025 with 54.99% of revenue at USD 22.08 billion, while Digital grows fastest at 9.41%. * By application, Retail & E-commerce led in 2025 with 26% of revenue at USD 10.44 billion. * By placement, Roadside & Highway led in 2025 with 48% of revenue at USD 19.27 billion, while Malls & Retail Spaces grows fastest at 8.55%. * By advertiser type, National Advertisers led in 2025 with 38.01% of revenue at USD 15.26 billion, while International / Global Brands grows fastest at 8.33%. * The United States is the largest single country market at USD 10.58 billion in 2025, 26.35% of global revenue.
The report segments the market across five axes; by format, and by technology, application, placement and advertiser type; with revenue and a growth rate for every line in every year from 2020 to 2034, alongside bear, base and bull scenarios for the headline total at USD 62.43 billion and USD 77.55 billion by 2034. It covers all five regions with country-level breakdowns, the competitive landscape, and the research methodology behind every estimate. Delivered as a PDF; a free sample is available on request.