The global printed signage market is estimated to be valued at US$ 41.82 Tn in 2023 and is expected to exhibit a CAGR of 3.0% over the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Printed signage refers to the use of printed materials for displaying information, advertisements, or promotions. It includes various types of signage such as banners, posters, billboards, and hoardings. Printed signage offers several advantages such as cost-effectiveness, high visibility, and easy customization. It is widely used for marketing and advertising purposes by various industries including retail, hospitality, and transportation. The need for effective advertising and promotional tools to reach a larger audience and create brand awareness is driving the demand for printed signage in the market.
Market Key Trends:
One key trend observed in the printed signage market is the increasing adoption of digital printing technology. Digital printing offers several advantages over traditional printing methods such as faster turnaround time, high-quality printing, and cost-effective customization. It allows businesses to print on-demand, thereby reducing inventory costs and wastage. The growing popularity of digital marketing and online advertising platforms is also fueling the demand for digitally printed signage. Additionally, advancements in printing technologies and materials are further contributing to the market growth.
PEST Analysis:
Political: The political landscape of the printed signage market is expected to remain stable and conducive to growth over the forecast period. Governments across the globe are increasingly promoting the use of printed signage for various promotional and informational purposes, which is likely to drive market growth.
Economic: The printed signage market is likely to benefit from favorable economic conditions, including increasing disposable incomes and rising consumer spending. As businesses invest more in marketing and advertising activities, the demand for printed signage is expected to witness a steady growth.
Social: Changing consumer preferences and the increasing popularity of digital platforms may pose challenges for the printed signage market. However, the market can capitalize on the growing demand for visually appealing and interactive signage solutions, particularly in sectors such as retail, hospitality, and transportation.
Technological: Technological advancements in printing technologies and materials are expected to drive innovation in the printed signage market. The adoption of digital printing techniques and the development of eco-friendly and sustainable materials are likely to create new growth opportunities for market players.
Key Takeaways:
The Global Printed Signage Market Demand is expected to witness high growth, exhibiting a CAGR of 3.0% over the forecast period from 2023 to 2030. This growth can be attributed to increasing promotional and advertising activities across various industries, including retail, hospitality, healthcare, and transportation. The market size for 2023 was valued at US$ 41.82 Tn.
In terms of regional analysis, Asia Pacific is expected to be the fastest-growing and dominating region in the printed signage market. The region’s rapid urbanization, increasing disposable incomes, and a large consumer base are key factors driving market growth. Moreover, the thriving retail sector and the growing popularity of digital advertising platforms contribute to the region’s dominance in the market.
Key players operating in the printed signage market include Avery Dennison Corporation, Spandex Ltd, IGEPA group GmbH & Co. KG, ORAFOL Europe GmbH, Identity Global, LINTEC Corporation, 3A Composites Holding AG, Signs Express, EhKo Sign Industries Kft, MACtac LLC (Lintec), Kelly Signs, and L&H Sign Company Inc. These players are focusing on product innovation, strategic partnerships, and mergers and acquisitions to gain a competitive edge and expand their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it