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Modern urban lifestyles exhibit a tendency towards greater indulgence in outdoor activities, and people are spending a greater portion of their time traveling. The rapidly growing popularity of digital billboards, and their ability to air attractive full motion video and visually informative graphic presentations, is helping speed the growth of outdoor advertising.
With such advancements, the world billboard advertising market, the largest mode of outdoor advertising, is expected to increase by $2.85 billion between 2007 and 2010, according to Global Industry Analysts, Inc.
Europe is said to dominate this market with a 31 percent share, while Asia-Pacific turbo charges global growth with a compound annual growth rate of 12.3 percent. The transit advertising market represents the fastest growing mode of outdoor advertising, with the potential to reach $7.14 billion by 2010. The street furniture advertising market in the Middle East and Africa is expected to reach $64.05 million by 2010.
By region, the world outdoor advertising market is dominated by Europe. Growth in Europe is fashioned by the highly lucrative Russian market, which is forecast to grow at a rate of 30.2 percent over the analysis period. Outdoor advertising expenditures in the two other fast growing European markets, Hungary and Norway, together are expected to rise by $119.9 million between 2007 and 2010.
In Asia-Pacific, unbridled growth is forecast to be witnessed in Indonesia, Thailand, and China. Together, these three regional markets are expected to corner close to 65 percent of the total expenditures on outdoor advertising in Asia, by 2010.
Leading global and regional players operating in the industry include Clear Channel Outdoor, JCDecaux, CBS Outdoor, Lamar Advertising Company, Titan Outdoor Limited, Van Wagner Communications, Planar Control Room and Digital Signage, EPAMEDIA, MarketForward, Omnivex Corporation, Primedia Outdoor Pty Ltd., and Clear Media Limited, among others.
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