Market Size of Mexico OOH And DOOH Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 351.01 Million |
| Market Size (2029) | USD 461.17 Million |
| CAGR (2024 - 2029) | 5.61 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Mexico OOH and DOOH Market Analysis
The Mexico OOH And DOOH Market size is estimated at USD 351.01 million in 2024, and is expected to reach USD 461.17 million by 2029, growing at a CAGR of 5.61% during the forecast period (2024-2029).
- Mexico's rapid urbanization and infrastructure projects present significant opportunities for OOH and DOOH advertising. New public transportation systems, airports, and urban centers create new advertising spaces. In Mexico, the smart cities industry is on the rise, driven by collaborations between the government, private enterprises, and local communities. They aim to tackle urban challenges and foster connected environments.
- Digital out-of-home (DOOH) advertisements leverage real-time data displays on digital screens, enhancing their interactivity and creativity. This not only boosts visibility but also aligns with the rising consumer preference for interactive ads, fueling the DOOH market's growth.
- Outdoor advertising is surging in popularity within the advertising realm. It facilitates brand awareness and synergizes with a brand's campaigns across other channels, propelling market growth. Additionally, with people increasingly spending time away from home and the office, brands invest in reaching out to the audience through out-of-home advertising.
- In April 2024, the 6th edition of Latin America's premier OOH outdoor advertising event took place, with Taggify appreciating the initiatives of Alooh Latam Mexico. The event featured 45 presentations covering key themes like technological advancements, industry growth, sustainability, creativity, and the role of data and artificial intelligence in OOH space. Alooh Latam solidified its position as the prominent OOH association, ensuring the interests of advertisers in Latin America. These events help the existing players develop out-of-home and digital-out-of-time advanced solutions for business growth.
- Intense market competition, driven by a preference toward online and social media marketing, as opposed to OOH and DOOH methods, coupled with the high cost of investments required in OHH advertisements, may create significant challenges that could restrain market growth.
- Post-COVID-19 witnessed the growth of OOH and DOOH advertising, mainly due to the rise of events, travel, and public gatherings. There is an increase in the number of collaborations between advertisers, technology providers, and local authorities. The growth trajectory is expected to continue, strongly emphasizing digital and data-driven solutions.
