Printed signage includes banners, boards, signs, displays and graphics used for advertising and marketing purposes. They play a vital role in branding, directional signage, promoting sales and attracting consumer attention. With revival of economies worldwide and reopening of businesses, advertising and marketing spending has increased substantially.
The global Printed Signage Market is estimated to be valued at US$ 43.07 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increased advertising and marketing spending by businesses across industries such as retail, hospitality, and real estate has propelled the demand for printed signage solutions globally. As economies recover from the pandemic slump and businesses resume normal operations, focus on brand visibility and promotions has increased significantly. Various signage types including banners, lightboxes, displays are being increasingly used at stores, malls, airports and other commercial establishments to attract customers and boost sales. This rising dependence on signage solutions for branding and promotions is expected to drive the printed signage market substantially over the forecast period. Innovations in printing technologies are also supporting market growth by providing high resolution graphics and durable signage materials.
SWOT Analysis
Strength: Printed signage has a strong brand recall and are effective for promoting businesses due to their visibility factor. They allow immediate connectivity with customers and help in guiding them inside premises easily.
Weakness: Printed signs have a shorter lifespan and get damaged quickly due to external factors like weather. They also require regular replacement or maintenance.
Opportunity: Growth of retail industry and infrastructure development are leading to increased opportunities for printed signage market. Rapid urbanization in developing regions also increases demand.
Threats: Advanced digital signage poses a threat due to benefits like dynamic content, interactive features and remote manageability. Stiff competition from local players impacts margins of big brands.
Key Takeaways
The Global printed signage market size is expected to witness high growth. The global Printed Signage Market is estimated to be valued at US$ 43.07 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030.
North America dominates the printed signage market currently due to high advertising and marketing spends. Growth in the commercial construction sector and organized retail industry in countries like the US and Canada boosts demand. Asia Pacific is expected to witness fastest growth in the forecast period owing to rising middle class population, urbanization, and growth of SME businesses in countries like India and China.
Key players operating in the printed signage market are Zoetis, Merck & Co., Inc., Boehringer Ingelheim International GmbH, Bayer AG. Key players are focusing on expanding their distribution network and launch of innovative printed signage solutions integrated with advanced technologies for interactive and dynamic content display. Players are investing in R&D to develop eco-friendly printed signage materials with long lifespan and durability. They are also adopting strategies like mergers and acquisitions to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
