Raeem International, leading the way in Pakistan’s OOH industry, are thrilled to share the latest insights from the 2024 WOO Global Expenditure Survey. This comprehensive survey, conducted annually by the World Out of Home Organization (WOO), offers a detailed look at global Out of Home (OOH) expenditure for 2023 and forecasts for 2024.
A Global Snapshot
The 2024 survey paints an exciting picture for the OOH sector. In 2023, global OOH spend reached an impressive $41.9 billion USD, surpassing both the $40 billion milestone and the 2019 figure of $36.3 billion. With a forecasted growth to $45.3 billion USD in 2024, the industry is not just recovering but thriving!
Regional Insights
The Asia-Pacific (APAC) region leads the charge, accounting for nearly half of the global OOH spend with $20.2 billion, reflecting its substantial share of global GDP. Europe follows with $10.3 billion, while North America, Latin America (LATAM), and Africa trail behind, though it’s worth noting that Africa’s figures might be underreported due to challenges in tracking informal economy activities.
The Rise of DOOH
Digital Out of Home (DOOH) is a major player in this growth story. In 2023, DOOH expenditure reached $16.7 billion USD, making up 37% of all OOH revenues. This sector continues to be a driving force behind global OOH growth. Europe is leading in DOOH investment, followed closely by APAC, North America, LATAM, and Africa.
Countries that have heavily invested in DOOH infrastructure are seeing substantial benefits. For instance, Australia, the UK, Germany, China, and South Korea are leading the way, with significant portions of their OOH revenues coming from DOOH.
Programmatic DOOH: The Future is Now
Programmatically traded DOOH has also made its mark, with reported spending of $1.2 billion USD globally, representing 8.1% of total DOOH revenues. Though this data might be underrepresented, we expect to see substantial growth in this area in the coming years as market adoption increases and reporting becomes more comprehensive.
A Thank You to Our Global Partners
The success of the WOO Global Expenditure Survey is thanks to the collaboration of WOO members and OOH trade associations worldwide. We’re grateful for their contributions and look forward to what the future holds for our industry.
At Raeem International, we are excited about these trends and committed to leveraging these insights to drive growth and innovation in Pakistan’s OOH landscape.
