Market Overview

The Philippines OOH and DOOH market represents a dynamic and rapidly evolving advertising landscape that combines traditional out-of-home advertising with cutting-edge digital out-of-home technologies. This comprehensive market encompasses billboards, transit advertising, street furniture, and increasingly sophisticated digital displays that are transforming how brands connect with Filipino consumers across urban and suburban environments.

Market dynamics in the Philippines reflect a unique blend of traditional advertising preferences and growing digital adoption. The country’s robust economic growth, expanding urban population, and increasing consumer spending power have created fertile ground for both conventional OOH formats and innovative DOOH solutions. Digital transformation is particularly pronounced in major metropolitan areas like Metro Manila, Cebu, and Davao, where advertisers are investing heavily in high-impact digital displays and interactive advertising technologies.

Growth projections indicate the market is expanding at a compound annual growth rate of 8.2%, driven by increased advertiser confidence, technological advancements, and the recovery of the advertising sector following global economic challenges. The integration of programmatic advertising, real-time content management, and audience analytics is revolutionizing how outdoor advertising campaigns are planned, executed, and measured across the archipelago.

Regional distribution shows that approximately 65% of market activity is concentrated in Metro Manila and surrounding areas, while secondary cities are experiencing accelerated growth in DOOH adoption. The market’s resilience and adaptability have positioned it as a critical component of integrated marketing strategies for both local and international brands targeting Filipino consumers.

Meaning

The Philippines OOH and DOOH market refers to the comprehensive advertising ecosystem encompassing traditional out-of-home media and digital out-of-home advertising platforms that reach consumers outside their homes throughout the Philippine archipelago. This market includes static billboards, transit advertising, street furniture, digital displays, LED screens, and interactive advertising technologies deployed across urban, suburban, and increasingly rural locations.

Out-of-home advertising traditionally encompasses static billboards, posters, transit advertising on buses and jeepneys, and street furniture advertising including bus shelters and kiosks. These formats have long been integral to the Philippine advertising landscape, leveraging high-traffic locations and strategic positioning to maximize brand visibility and consumer engagement.

Digital out-of-home advertising represents the technological evolution of traditional OOH, incorporating LED displays, LCD screens, interactive kiosks, and programmatically managed digital billboards. DOOH platforms enable dynamic content delivery, real-time campaign optimization, and sophisticated audience targeting capabilities that traditional formats cannot match.

Market integration between OOH and DOOH creates synergistic advertising opportunities where brands can leverage both static and digital formats within comprehensive campaign strategies. This hybrid approach maximizes reach while optimizing budget allocation across different media types and geographic locations throughout the Philippines.

Executive Summary

Strategic positioning of the Philippines OOH and DOOH market reflects a mature advertising ecosystem undergoing significant digital transformation. The market demonstrates strong fundamentals with consistent growth driven by urbanization, economic development, and evolving consumer media consumption patterns across the archipelago.

Technology adoption is accelerating rapidly, with digital formats representing approximately 35% of total market activity and growing at double-digit rates annually. Major advertising agencies and media companies are investing heavily in digital infrastructure, programmatic capabilities, and data analytics platforms to enhance campaign effectiveness and measurement accuracy.

Competitive landscape features a mix of established local media companies and international players, creating a dynamic environment that drives innovation and service quality improvements. The market’s fragmentation across multiple islands and urban centers creates opportunities for specialized regional players while maintaining space for national advertising networks.

Future trajectory indicates continued growth with increasing emphasis on digital integration, programmatic advertising, and data-driven campaign optimization. The market’s evolution toward more sophisticated targeting and measurement capabilities positions it as an essential component of modern marketing strategies in the Philippines.

Key Market Insights

Primary market drivers include rapid urbanization, growing middle-class consumer spending, and increasing advertiser recognition of OOH effectiveness in reaching mobile Filipino consumers. The market benefits from strong fundamentals including population growth, economic development, and expanding retail and commercial sectors.

1. Digital Transformation: Accelerating adoption of DOOH technologies with enhanced targeting and measurement capabilities
2. Programmatic Integration: Growing implementation of automated buying platforms for improved campaign efficiency
3. Mobile Connectivity: Integration with mobile marketing strategies through QR codes and interactive features
4. Data Analytics: Advanced audience measurement systems providing detailed campaign performance insights
5. Content Management: Sophisticated digital content platforms enabling real-time campaign optimization
6. Geographic Expansion: Extension of digital networks beyond Metro Manila to secondary cities
7. Interactive Capabilities: Development of touchscreen and sensor-based advertising experiences
8. Sustainability Focus: Implementation of energy-efficient technologies and environmentally conscious practices

Market maturation is evident in the sophistication of available advertising formats, measurement capabilities, and integration with broader marketing ecosystems. The industry’s evolution toward data-driven decision making and programmatic buying reflects global advertising trends adapted to local market conditions and consumer preferences.

Market Drivers

Economic growth serves as the fundamental driver of Philippines OOH and DOOH market expansion. The country’s robust GDP growth, expanding middle class, and increasing consumer spending power create favorable conditions for advertising investment across traditional and digital out-of-home formats.

Urbanization trends significantly impact market dynamics as more Filipinos migrate to cities, creating concentrated audiences for outdoor advertising campaigns. Metro Manila’s continued growth, along with the development of secondary urban centers, provides expanding opportunities for both static and digital advertising placements in high-traffic locations.

Digital infrastructure development enables the deployment of sophisticated DOOH networks with reliable connectivity and power supply. Government investments in telecommunications infrastructure and smart city initiatives create the foundation necessary for advanced digital advertising technologies and programmatic campaign management.

Advertiser sophistication is increasing as brands recognize the effectiveness of integrated OOH and DOOH campaigns in reaching mobile consumers. The growing emphasis on measurable advertising results drives demand for digital formats that provide detailed analytics and real-time campaign optimization capabilities.

Consumer mobility patterns in the Philippines create ideal conditions for out-of-home advertising effectiveness. The prevalence of public transportation, extended commute times, and active street-level commercial activity ensure high exposure rates for strategically positioned advertising displays.

Retail sector expansion drives demand for location-based advertising solutions that can drive foot traffic to shopping centers, restaurants, and commercial establishments. The growth of modern retail formats and e-commerce pickup locations creates new opportunities for targeted outdoor advertising campaigns.

Market Restraints

Regulatory challenges present ongoing constraints for the Philippines OOH and DOOH market. Local government units maintain varying regulations regarding billboard placement, size restrictions, and digital display requirements, creating complexity for national advertising campaigns and network expansion.

Infrastructure limitations in certain regions restrict the deployment of advanced DOOH technologies. Inconsistent power supply, limited high-speed internet connectivity, and challenging geographic terrain in some areas of the archipelago constrain the expansion of digital advertising networks beyond major urban centers.

Weather-related risks pose significant challenges for outdoor advertising infrastructure. The Philippines’ tropical climate, typhoon season, and extreme weather events require substantial investments in weather-resistant equipment and ongoing maintenance, increasing operational costs for media companies.

Economic volatility can impact advertiser spending patterns, particularly affecting discretionary marketing budgets during economic downturns. Currency fluctuations and inflation pressures may influence international advertisers’ investment decisions and local companies’ advertising expenditures.

Competition from digital media continues to challenge traditional advertising formats as consumers spend increasing time on mobile devices and social media platforms. The need to demonstrate clear ROI and audience engagement metrics becomes more critical as advertisers evaluate media mix allocation decisions.

Technical complexity associated with advanced DOOH systems requires specialized expertise and ongoing technical support. The shortage of qualified technical personnel and the need for continuous system updates and maintenance can strain operational resources for media companies.

Market Opportunities

Programmatic advertising expansion represents a significant growth opportunity for the Philippines DOOH market. The implementation of automated buying platforms and real-time bidding systems can improve campaign efficiency, reduce transaction costs, and enable more sophisticated targeting capabilities for advertisers.

Secondary city development offers substantial expansion opportunities as urban centers outside Metro Manila experience economic growth and infrastructure development. Cities like Cebu, Davao, Iloilo, and Cagayan de Oro present attractive markets for DOOH network expansion with less saturated competitive environments.

Integration with mobile marketing creates opportunities for enhanced consumer engagement through QR codes, NFC technology, and location-based services. The high mobile penetration rate in the Philippines enables sophisticated cross-platform campaigns that bridge outdoor advertising with digital marketing strategies.

Retail media networks present emerging opportunities as shopping centers, supermarkets, and retail chains develop internal advertising platforms. These environments offer controlled conditions for digital displays with captive audiences and direct purchase conversion opportunities.

Transportation advertising evolution includes opportunities in airports, seaports, and expanding public transportation systems. The development of new infrastructure projects and modernization of existing transportation hubs creates premium advertising inventory with affluent, mobile audiences.

Interactive technology adoption enables the development of engaging advertising experiences through touchscreens, augmented reality, and sensor-based interactions. These technologies can differentiate DOOH offerings and command premium pricing while providing enhanced value for advertisers seeking innovative consumer engagement.

Market Dynamics

Supply and demand equilibrium in the Philippines OOH and DOOH market reflects a maturing industry with increasing sophistication in both advertiser requirements and media company capabilities. The market demonstrates healthy growth dynamics with expanding inventory availability balanced against growing advertiser demand for premium locations and advanced targeting capabilities.

Technology integration is fundamentally reshaping market dynamics as traditional static formats compete with increasingly sophisticated digital alternatives. MarkWide Research analysis indicates that digital formats are capturing an increasing share of advertiser budgets, with efficiency improvements of approximately 40% in campaign performance metrics compared to traditional formats.

Pricing structures are evolving to reflect the enhanced capabilities of digital platforms, with premium pricing for programmatic capabilities, real-time optimization, and detailed analytics reporting. The market is transitioning from traditional CPM-based pricing toward performance-based models that align media costs with campaign outcomes.

Geographic expansion patterns show concentrated development in major urban areas with gradual expansion to secondary markets as infrastructure and economic conditions improve. The market’s island geography creates unique distribution challenges and opportunities for regional specialization and local market expertise.

Seasonal fluctuations impact market dynamics with peak advertising periods during holiday seasons, back-to-school campaigns, and major shopping events. The market demonstrates resilience through diversified advertiser categories and the ability to adapt quickly to changing campaign requirements and budget allocations.

Research Methodology

Comprehensive market analysis employs multiple research methodologies to ensure accurate and reliable insights into the Philippines OOH and DOOH market. The research framework combines quantitative data collection with qualitative industry expertise to provide a complete understanding of market dynamics, competitive positioning, and growth opportunities.

Primary research activities include extensive interviews with industry executives, media company representatives, advertising agency professionals, and technology providers. These discussions provide insider perspectives on market trends, challenges, and strategic directions that quantitative data alone cannot capture.

Secondary research sources encompass industry reports, government statistics, advertising expenditure data, and technology adoption studies. The analysis incorporates multiple data sources to validate findings and ensure comprehensive coverage of all market segments and geographic regions.

Data validation processes include cross-referencing multiple sources, conducting follow-up interviews to clarify findings, and applying statistical analysis techniques to identify trends and patterns. The methodology ensures that conclusions are supported by robust evidence and reflect actual market conditions.

Market modeling techniques utilize historical data, current market indicators, and forward-looking assumptions to develop growth projections and scenario analyses. The models account for various economic, technological, and regulatory factors that may influence future market development.

Regional Analysis

Metro Manila dominance characterizes the Philippines OOH and DOOH market with approximately 65% of total market activity concentrated in the National Capital Region and surrounding provinces. This concentration reflects the area’s economic importance, population density, and advanced infrastructure supporting sophisticated advertising technologies.

Cebu market development represents the most significant secondary market with growing DOOH adoption and expanding advertiser interest. The region’s economic growth, tourism industry, and business process outsourcing sector create diverse advertising opportunities for both local and national brands seeking to reach affluent consumer segments.

Davao region expansion demonstrates strong growth potential with increasing infrastructure development and economic diversification. The area’s strategic importance as a gateway to Mindanao and growing middle-class population make it attractive for advertising network expansion and brand investment.

Northern Luzon markets including Baguio, Clark, and surrounding areas show steady growth driven by tourism, business development, and improved transportation infrastructure. These markets offer opportunities for targeted campaigns reaching both local residents and visiting consumers.

Visayas region development encompasses multiple growing urban centers with distinct market characteristics and advertising opportunities. Cities like Iloilo, Bacolod, and Dumaguete present unique demographic profiles and economic conditions that require specialized advertising approaches and local market expertise.

Mindanao market potential remains largely underdeveloped but offers significant long-term opportunities as security conditions improve and economic development accelerates. The region’s natural resources, agricultural importance, and growing urban centers create potential for future advertising network expansion.

Competitive Landscape

Market leadership in the Philippines OOH and DOOH sector features a combination of established local companies and international players, creating a dynamic competitive environment that drives innovation and service quality improvements across the industry.

1. EDSA Outdoor Advertising – Leading provider of premium billboard locations with strong presence in Metro Manila and expanding digital capabilities
2. Besco Outdoor Media – Major player in traditional and digital outdoor advertising with comprehensive network coverage
3. Unitop Outdoor Media – Specialized focus on high-impact locations and innovative advertising solutions
4. AdOutdoor Philippines – Growing digital network with emphasis on programmatic capabilities and data analytics
5. JCDecaux Philippines – International expertise in street furniture and transit advertising solutions
6. Clear Channel Philippines – Global outdoor advertising experience with local market adaptation
7. Ayala Malls Media – Retail-focused advertising network leveraging shopping center locations
8. SM Supermalls Advertising – Extensive mall-based advertising opportunities with captive audiences

Competitive differentiation focuses on location quality, technology capabilities, creative services, and measurement accuracy. Companies are investing heavily in digital infrastructure, programmatic platforms, and data analytics to provide superior value propositions for advertisers seeking measurable campaign results.

Market consolidation trends show larger players acquiring smaller regional operators to expand geographic coverage and achieve operational efficiencies. This consolidation creates opportunities for improved service delivery while maintaining competitive pricing and innovation incentives.

Segmentation

Format-based segmentation divides the Philippines OOH and DOOH market into distinct categories based on advertising medium characteristics, deployment locations, and technological capabilities. Each segment serves specific advertiser needs and consumer engagement objectives.

By Technology:

• Traditional Static: Conventional billboards, posters, and printed advertising materials with established market presence
• Digital LED: Large-format LED displays offering dynamic content capabilities and high visibility
• LCD Displays: Smaller format digital screens providing detailed content presentation and interactive features
• Interactive Kiosks: Touchscreen-enabled platforms enabling direct consumer engagement and information access

By Location:

• Roadside Billboards: Highway and major road placements targeting commuter audiences
• Transit Advertising: Bus, jeepney, and MRT/LRT advertising reaching public transportation users
• Mall Advertising: Shopping center placements accessing retail consumer segments
• Street Furniture: Bus shelters, kiosks, and urban furniture providing pedestrian-level engagement

By Application:

• Brand Awareness: Large-format displays maximizing visual impact and recall
• Product Promotion: Targeted campaigns highlighting specific products or services
• Event Marketing: Time-sensitive advertising supporting promotional activities and launches
• Public Information: Government and public service messaging reaching broad population segments

Category-wise Insights

Traditional billboard advertising maintains significant market share despite digital growth, particularly in highway locations and areas with regulatory restrictions on digital displays. These formats offer cost-effective reach for brand awareness campaigns and continue to provide strong ROI for advertisers with broad target audiences.

Digital billboard networks represent the fastest-growing segment with annual growth rates exceeding 15% as advertisers recognize the flexibility and impact of dynamic content delivery. These platforms enable real-time campaign optimization, daypart targeting, and creative rotation that traditional formats cannot match.

Transit advertising evolution incorporates both traditional and digital formats across buses, jeepneys, and rail systems. The segment benefits from captive audiences during extended commute times and offers opportunities for location-based messaging and mobile integration strategies.

Mall advertising platforms provide controlled environments with affluent consumer demographics and direct purchase conversion opportunities. The integration of digital displays with retail media networks creates sophisticated targeting capabilities and measurable sales impact for participating brands.

Street furniture advertising offers pedestrian-level engagement opportunities with growing digital integration. These formats provide community-level targeting capabilities and opportunities for interactive consumer experiences in urban environments.

Interactive advertising solutions represent emerging opportunities for enhanced consumer engagement through touchscreen interfaces, augmented reality experiences, and sensor-based interactions. These technologies command premium pricing while providing unique value propositions for innovative advertisers.

Key Benefits for Industry Participants and Stakeholders

Advertiser advantages include access to high-impact, unavoidable advertising opportunities that reach consumers during daily activities outside their homes. The market provides flexible campaign options ranging from cost-effective traditional formats to sophisticated digital platforms with advanced targeting and measurement capabilities.

Media company benefits encompass recurring revenue streams from long-term advertising contracts, opportunities for premium pricing on high-traffic locations, and potential for operational efficiency improvements through digital platform automation. The market’s growth trajectory provides expansion opportunities and increasing asset values.

Technology provider opportunities include growing demand for digital display hardware, content management systems, programmatic advertising platforms, and analytics solutions. The market’s digital transformation creates ongoing opportunities for innovation and service delivery across multiple technology categories.

Real estate owner advantages involve additional revenue streams from advertising installations on buildings, land, and infrastructure assets. Property owners can monetize high-visibility locations while maintaining primary property uses and potentially increasing overall asset values.

Consumer benefits include access to relevant advertising information, entertainment content, and public service messaging in convenient outdoor locations. Digital platforms can provide useful information such as weather updates, traffic conditions, and local business information alongside advertising content.

Economic impact extends beyond direct industry participants to include job creation in creative services, technical support, installation, and maintenance sectors. The market contributes to urban development and infrastructure improvement while supporting broader advertising and marketing ecosystems.

SWOT Analysis

Strengths:

• Market Maturity: Established industry with experienced operators and proven advertiser demand
• Geographic Coverage: Extensive network coverage across major urban centers and transportation corridors
• Technology Integration: Growing adoption of advanced digital platforms and programmatic capabilities
• Regulatory Stability: Generally supportive regulatory environment with established permitting processes

Weaknesses:

• Infrastructure Limitations: Inconsistent power and connectivity in secondary markets restricting digital expansion
• Weather Vulnerability: Tropical climate and typhoons create maintenance challenges and operational risks
• Fragmented Regulation: Varying local government requirements create compliance complexity for national campaigns
• Limited Measurement: Traditional formats lack detailed analytics capabilities compared to digital alternatives

Opportunities:

• Digital Transformation: Accelerating adoption of DOOH technologies with enhanced capabilities
• Programmatic Growth: Expanding automated buying platforms improving campaign efficiency
• Secondary Market Expansion: Growing urban centers outside Metro Manila offering development opportunities
• Mobile Integration: Cross-platform campaigns leveraging high mobile penetration rates

Threats:

• Digital Media Competition: Increasing advertiser focus on online and social media platforms
• Economic Volatility: Potential advertising budget reductions during economic downturns
• Regulatory Changes: Possible restrictions on outdoor advertising placement or content
• Technology Disruption: Rapid changes requiring continuous infrastructure investment

Market Key Trends

Programmatic advertising adoption is accelerating rapidly as media companies implement automated buying platforms and real-time bidding systems. This trend enables more efficient campaign management, improved targeting accuracy, and better ROI measurement for advertisers seeking data-driven outdoor advertising solutions.

Interactive technology integration includes touchscreen displays, augmented reality experiences, and sensor-based advertising that responds to consumer proximity and behavior. These innovations create engaging advertising experiences that differentiate DOOH from traditional media while providing measurable consumer interaction data.

Sustainability initiatives are becoming increasingly important as companies implement energy-efficient LED technology, solar power systems, and environmentally responsible disposal practices. MWR research indicates that sustainability considerations influence 45% of advertiser media selection decisions, driving industry adoption of green technologies.

Data analytics advancement enables sophisticated audience measurement, campaign optimization, and ROI calculation through integration with mobile data, traffic patterns, and demographic analysis. These capabilities provide advertisers with detailed insights comparable to digital marketing platforms.

Content management evolution includes cloud-based systems enabling real-time content updates, dynamic creative optimization, and centralized campaign management across distributed advertising networks. These platforms improve operational efficiency while enabling more responsive and relevant advertising content.

Mobile connectivity integration leverages QR codes, NFC technology, and location-based services to bridge outdoor advertising with digital marketing strategies. This trend creates seamless consumer experiences that extend engagement beyond initial outdoor advertising exposure.

Key Industry Developments

Infrastructure modernization projects across major urban centers are creating new opportunities for advanced DOOH installations with improved power supply, high-speed connectivity, and strategic positioning. Government smart city initiatives support the deployment of digital advertising networks integrated with urban infrastructure systems.

Technology partnerships between local media companies and international technology providers are accelerating the adoption of advanced advertising platforms, content management systems, and analytics solutions. These collaborations bring global expertise to the Philippine market while maintaining local market knowledge and relationships.

Regulatory framework updates in various local government units are modernizing outdoor advertising regulations to accommodate digital technologies while maintaining aesthetic and safety standards. These developments provide clearer guidelines for industry investment and expansion planning.

Retail media network expansion includes major shopping center operators developing internal advertising platforms that complement traditional outdoor advertising with controlled environment opportunities. These networks provide premium inventory with captive audiences and direct purchase conversion tracking.

Transportation infrastructure development creates new advertising opportunities in airports, seaports, and expanding public transportation systems. Major infrastructure projects include dedicated advertising spaces designed to accommodate both traditional and digital advertising formats.

Industry consolidation activities involve larger media companies acquiring regional operators to achieve scale efficiencies and expand geographic coverage. These transactions create more comprehensive advertising networks while maintaining competitive market dynamics.

Analyst Suggestions

Investment prioritization should focus on digital infrastructure development in high-traffic locations with reliable power and connectivity. Companies should evaluate opportunities in secondary cities where competition is less intense and growth potential remains significant for early movers.

Technology adoption strategies should emphasize programmatic capabilities, data analytics platforms, and mobile integration features that differentiate offerings from traditional advertising formats. Investment in measurement and attribution technologies will become increasingly important for advertiser retention and premium pricing.

Geographic expansion planning should consider infrastructure readiness, regulatory environment, and local market characteristics when evaluating new market entry opportunities. Secondary cities with growing economies and improving infrastructure present attractive expansion targets for established operators.

Partnership development with technology providers, creative agencies, and data analytics companies can accelerate capability development while sharing investment risks. Strategic alliances enable access to specialized expertise and advanced technologies without full internal development costs.

Regulatory engagement with local government units can help shape favorable policy environments while ensuring compliance with evolving requirements. Proactive industry participation in regulatory discussions can influence outcomes and reduce implementation uncertainties.

Sustainability integration should include energy-efficient technologies, environmental impact reduction, and corporate social responsibility initiatives that align with advertiser values and regulatory expectations. These investments can provide competitive differentiation and long-term cost savings.

Future Outlook

Growth trajectory for the Philippines OOH and DOOH market remains positive with continued expansion expected across both traditional and digital formats. The market’s evolution toward more sophisticated targeting, measurement, and optimization capabilities positions it as an essential component of integrated marketing strategies.

Digital transformation acceleration will continue driving market evolution with digital formats expected to represent 50% of market activity within the next five years. This transition reflects advertiser demand for measurable, flexible, and impactful advertising solutions that complement digital marketing strategies.

Technology integration advancement will enable more sophisticated advertising experiences through artificial intelligence, machine learning, and real-time optimization capabilities. These developments will improve campaign effectiveness while providing advertisers with detailed performance insights and attribution data.

Market expansion opportunities in secondary cities and rural areas will drive geographic diversification as infrastructure development and economic growth create new advertising opportunities. The market’s expansion beyond Metro Manila will create more balanced national coverage and reduced concentration risk.

Programmatic adoption growth will streamline campaign management and improve efficiency for both advertisers and media companies. MarkWide Research projects that programmatic transactions will account for 60% of digital OOH spending as automation technologies mature and industry adoption accelerates.

Sustainability focus intensification will drive continued investment in energy-efficient technologies, renewable power sources, and environmentally responsible business practices. These initiatives will become increasingly important for advertiser partnerships and regulatory compliance across the Philippines.

Conclusion

The Philippines OOH and DOOH market represents a dynamic and evolving advertising ecosystem that successfully combines traditional outdoor advertising strengths with innovative digital technologies. The market’s robust growth trajectory, driven by economic development, urbanization, and digital transformation, positions it as a critical component of comprehensive marketing strategies for brands targeting Filipino consumers.

Strategic opportunities abound for industry participants willing to invest in digital infrastructure, programmatic capabilities, and geographic expansion beyond Metro Manila. The market’s maturation toward data-driven decision making and measurable advertising outcomes aligns with global advertising trends while maintaining unique characteristics that reflect local market conditions and consumer preferences.

Future success in this market will depend on the ability to balance traditional advertising effectiveness with digital innovation, regulatory compliance with operational efficiency, and national reach with local market expertise. Companies that successfully navigate these dynamics while maintaining focus on advertiser value creation and consumer engagement will be well-positioned to capitalize on the market’s continued growth and evolution.