The outdoor advertising report, which is available now, anticipates corporate spending on advertising to remain low, with the largest decline felt in the financial services, real estate and the automotive arenas.

However, according to the report, the dynamic nature of outdoor advertising has helped the sector capture a share of advertising spend from television, radio, and newspapers, which have been under pressure in the current recession.

Research and Markets pinpoints growth in digital technology thanks to a combination of the traditional marketing opportunities afforded by outdoor, coupled with various new applications.

Its findings reveal that the US holds one of the highest growth rates in the outdoor advertising market, while spend in China has also increased in recent years.

The report also states that leading companies Clear Channel Outdoor, JCDecaux and CBS, hold around 30% of the outdoor market share.

The report is priced from €963 (£860).