Market Trends of ASEAN OOH And DOOH Industry
Ongoing Shift Toward Digital Advertising Aided by Increased Spending on Smart City Projects
- ASEAN countries boast a robust economic foundation, anchored by a market of 670 million individuals, a tech-savvy youth demographic, and increasing internet adoption. Digitalization emerges as a pivotal force propelling economic progress, notably fueling growth in e-commerce, online media, financial services, and ride-hailing industries.
- Digital ads are essential in modern marketing strategies for several reasons. Primarily, consumers are increasingly spending time online through computers, smartphones, and smart home devices. According to Internet World Stats, Brunei has the highest internet penetration rate in Asia at 119.7%. Among ASEAN states, Malaysia and the Philippines have significant internet penetration rates of 93.8% and 91%, respectively.
- The urban population in ASEAN countries is on the rise, expanding the audience for DOOH displays. Although Indonesia's urbanization historically lagged behind global trends, it is now rapidly catching up. World Bank’s data showed that Indonesia's urbanization rate climbed from 55.33% in 2018 to 58.57% in 2023, with projections indicating a continued upward trajectory, bolstering market demand.
- Moreover, the market is poised for growth, driven by recent innovations like the rise of 3D and mobile billboards. These advancements not only broaden advertising applications but also revolutionize how businesses engage with customers, ultimately elevating the customer experience.
Understand The Key Trends Shaping This Market
Download PDF
Malaysia to Witness Major Growth
- The Malaysian out-of-home (OOH) advertising market is poised for substantial growth, driven by heightened interest from advertisers and marketers. OOH advertising stands out as a cost-effective channel, offering advertisers a unique advantage with its impactful presence in the real-world environment.
- As the demand for innovative advertising media rises among Malaysian advertisers and brand owners, the OOH market is set to benefit. Organizations, in a bid to stand out in the competitive landscape, are increasingly turning to OOH solutions to bolster their visibility and drive business growth.
- The surge in digital displays paints a promising picture for the Malaysian OOH market. While the digital OOH segment has seen remarkable growth in recent years, outpacing its static counterpart, advancements suggest that the static segment will maintain a significant market share moving forward.
- According to a survey on Malaysian consumer behavior by Adyen, a Dutch payment company, 76% of respondents favored online shopping for holidays and entertainment in 2023. Further, the rise of digital out-of-home (DOOH) advertising is influencing consumer behavior, as it effectively bridges the gap between online and offline shopping experiences, further fueling market expansion.
- Malaysia's advertising landscape is embracing digital out-of-home (DOOH) campaigns, drawn by their high recall rates and cost-effectiveness. Vendors in the DOOH market are innovating, offering enhanced personalization, precise targeting, and improved measurement tools, all of which are fueling the market's rapid expansion.
Get Analysis on Important Geographic Markets
Download PDF
