July 23, 2024
Printed Signage Market

Printed Signage Market Is Estimated To Witness High Growth Owing To Growing Digitization And Increasing Advertising Expenditure

The global Printed Signage Market is estimated to be valued at US$40.79 million in 2021 and is expected to exhibit a CAGR of 0.18% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

The Printed Signage Market is a rapidly growing industry due to the increasing digitization and advertising expenditure across various sectors. Printed signage plays a crucial role in brand promotion, communication, and advertising. It includes various types of printed materials used for outdoor and indoor advertising such as banners, billboards, wall graphics, vehicle wraps, and window displays. With the advancement in technology, the market has witnessed a shift from traditional printed signage to digital signage, which offers dynamic content and real-time updates.

Market Dynamics:

The growth of the Printed Signage Market is driven by two key factors. Firstly, the increasing digitization and adoption of digital marketing strategies by businesses have led to a higher demand for printed signage. Businesses are using printed signage as an effective tool to attract customers, create brand awareness, and increase sales. Secondly, the rising advertising expenditure across various industries, such as retail, hospitality, healthcare, and transportation, is boosting the demand for printed signage. Advertising plays a vital role in reaching out to the target audience and influencing their purchase decisions.

For example, the retail industry extensively uses printed signage to attract customers to their stores and promote discounts and offers. Similarly, the transportation industry uses printed signage on vehicles and at terminals to provide information to passengers and promote services.

Segment Analysis:

The outdoor segment dominates the Printed Signage Market, accounting for the largest market share. This can be attributed to the high visibility and reach of outdoor signage compared to indoor signage. Outdoor signage is widely used for highway advertisements, billboards, and building wraps, which attract a large audience. Additionally, the outdoor signage segment is expected to witness significant growth due to the increasing number of infrastructural developments, such as smart cities and highways.

PEST Analysis:

Political:

The political factors affecting the Printed Signage Market include government regulations related to advertising, environmental policies, and trade restrictions. For example, restrictions on billboards and outdoor signage in certain areas due to concerns about visual pollution.

Economic:

The economic factors influencing the market include GDP growth, consumer spending, and advertising expenditures. Robust economic growth and increasing disposable income of consumers drive the demand for printed signage.

Social:

The social factors impacting the market include changing consumer preferences, lifestyles, and demographics. For example, the growing popularity of online shopping has led to the demand for printed signage for e-commerce companies to promote their brands and products offline.

Technological:

The technological factors include advancements in printing technologies, such as digital printing and UV printing, which offer high-quality prints and customization options. The integration of digital signage with technologies like AI and IoT is also driving the growth of the market.

Key Takeaways:

– The global Printed Signage Market is expected to witness high growth, exhibiting a CAGR of 0.18% over the forecast period, due to increasing digitization and advertising expenditure.

– North America is the fastest-growing and dominating region in the market due to the high adoption of digital signage and the presence of major players in the region.

– Key players operating in the global 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.

In conclusion, the Printed Signage Market is witnessing significant growth due to the growing digitization and increasing advertising expenditure across various sectors. The market offers a wide range of opportunities for businesses to effectively promote their brands and communicate with their target audience. With the advancements in printing technologies and the integration of digital signage, the market is expected to witness further growth in the coming years.