For exterior residential applications where we aren't forced to coat over somebody elses product we have a special coating that took us years to locate and test in the field. This is a breathable coating that is UV stable, extremely abrasion resistant, mixable with aluminum oxide aggregates, that has an average life span before needing re-coat of seven years! Compare this with the typical solvenated acrylic sealers most people use outdoors which exhibit a two year life span on average and you'll see that this is most definitely the right way to go. This product is a much more industrial, consisting of a two component resin and hardener made of acrylated urethane-acrylic. Beholding the breathability of acrylics as well as the strength of a urethane.
There are also penetrating sealers which arn't defined as clear coats you can use outdoors, these can be a cheap solution to maintaining the longevity of your concrete as well by preventing spalling and staining some.