India has one of the world's fastest-growing out-of-home (OOH) advertising markets. Billboards are the mainstay of India's OOH advertising market. India is transitioning faster than many other mature markets in terms of Digital OOH (DOOH). Due to increase in infrastructure and construction activities in the country, more platforms are available for OOH advertising.
Technologies such as near-field communication (NFC) are already having an impact, with NFC payments launching in India in 2015 after the Reserve Bank of India lifted restrictions. While applications are likely to remain niche in the short term, DOOH displays will offer more interactive features in the coming years.
In terms of hindrances to this segment, there is a lack of regulation in India with respect to the OOH market. Illicit advertising in public areas is prevalent in the country. This results in a risk of exclusive (purchased) licenses being undercut. The Indian market also lacks standardized metrics to evaluate the reach of OOH advertisements and advertisers' return on investment.
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