Outdoor Taxi Digital Screen Market
Digital Out of Home or DOOH refers to digital media used for marketing purposes outside of the home. This includes any out-of-home (OOH) display, digital billboard or digital signage that can change its advertising content remotely using addressable electronic, LED, and screen technology but excludes TV advertising and radio advertising.
DOOH accounted for 28.3 per cent of all out-of-home (OOH) ads in 2019 and this is predicted to rise to 38.3 per cent by 2023. Taxi and ride-hailing vehicles are emerging as a strong platform for DOOH market. There are around 2 million registered taxis around the world. In addition to taxis, the scale of rideshare networks has created a large opportunity to provide digital out of home advertising with granular city-block and time targeting.
Outdoor Taxi Digital Screen Market
Outdoor Taxi Digital Screen or vehicle-mounted media platform is one of the fastest growing market in different part of the world. Digital LCD display screens are installed on the headrest pole of the car/ Taxi as a platform for information & advertising dissemination, which can beautify the city’s appearance, take off for the urban economy. It is important to first understand the overall Digital Out-of-Home Market.
The ‘situationally aware’ digital smart screens determine campaign direction and ad frequency based on driver routes, area demographics and traffic patterns. Taxi digital LCD advertising display as a brand-new media and can achieve unexpectedly great communication value for enterprises. The panels can also be source of valuable data in the city like temperature and quantify pollution and track the acceleration and braking patterns of their drivers.
Key Players around the world
One of the well funded company ($51.5 million), offering mobility based advertising and data platform that allows rideshare drivers to make money through digital advertising, having offices in USA and Turkey. Drivers need to drive 40 hours a week to get the panel.
Curb Taxi is targeting to provide more than 1,100 LCD displays and working with Vistar media in USA. The company started as ride-hailing service provider but shifted the business model.
Adflow is designed and developed in partnership with P2P Transport (2,650 vehicles in their fleet), bringing a unique mobile digital advertising solution in Australia.
Key initiatives from Ridesharing players
Uber is expanding quickly in Digital Out-of-Home Market and has partnered with Adomni. Currently, they have launched pilot in 3 markets – Atlanta, Phoenix and Dallas with 1,000 vehicles. Adomni is a digital signage technology company, which manage and sell ads on digital signage and mobile devices. It is an open, online marketplace that lists and sells digital-out-of-home advertising. Under Uber OOH scheme, drivers can make $300 a month with an extra $100 a week if they log over 20 hours of driving. As a particular incentive to attract brands into the ecosystem, Adonmi will sync car ads with its digital billboards, to increase its effectiveness.
Lyft acquired rooftop advertising firm Halo Cars for an undisclosed amount in February 2020. Halo was founded in 2018 and operating in New York and Chicago, the start-up installs smart LED screens atop taxis to serve geo-targeted full-motion video ads. There’s an extra $400 income a month incentive for drivers to install Halo. It had previously restricted how many drivers could enter the scheme but now it is a Lyft subsidiary that number could skyrocket.
Grab launched its own GrabAds platform in 2018 and runs ads on in-car tablets and emblazoned on the outside too. Grab is planning to generate US$245 million in annual ad-based revenue from this new platform. The company has partnered with IRIS co (SPLIT) to install in-vehicle screen. They have done similar partnership with other local companies in South-east Asia. The company has not venture in on-vehicle digital ads market yet but they will do the same in coming days as they have network.
Valoriser Consultants is working with few companies in this space for international expansion, mainly Middle East and Asian market. You can connect with us if you are looking for more information.