New York (US), Aug. 08, 2023 (GLOBE NEWSWIRE) -- Printed Signage Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Printed Signage Market By Type, Print Technology, End User Vertical, Application, and Region - Forecast till 2030”, The printed signage market will surge from USD 42.0 Billion in 2023 to USD 45.8 Billion by 2032, exhibiting growth at a rate of 1.10% between 2023 and 2032.
Market Scope
One of the most popular types of signage solutions worldwide is printed signage. Through billboards and other backlit displays, among others, it is primarily used to market and advertise products to draw people and increase their understanding of the availability and features. Historically, printed signage has been effective in attracting attention and keeping customers interested. This helps businesses spread knowledge in a brief amount of time before a customer leaves their store.
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Market Competitive Landscape:
The major vendors in the printed signage industry are
- Avery Dennison Corporation
- Spandex Ltd
- IGEPA Group GmbH & Co. KG
- Orafol Europe GmbH
- Identity Group
- Lintec Corporation
- 3A
- Composites Holding AG
- Signs Express
- EhKo Sign Industries KFT
- Mactac LLLC (Lintec)
- Kelly Signs and Graphics
- L&H Sign Company Inc.
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size 2032 | USD 45.8 Billion |
| Compound Annual Growth Rate (CAGR) | 1.10% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Cost effectiveness, growing use of printed signage for marketing and advertisement purpose, and globalization of brand identities |
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Market USP Covered:
Market Drivers:
In contrast to the software or electrical system powering a digital sign, print signage is dependable and unlikely to malfunction. Physical printed signs are very effective in signposting or branding when utilized correctly and with clear branding and content. Additionally, print signages are highly economical, particularly now that print technologies have evolved and material costs have decreased. In addition, because this sort of signage is so inexpensive, especially pop-ups, A-boards, vinyl tie-signs, and pull-up stands, several versions can be made for various events.
The main factors aiding the printed signage market to endure in the face of fierce competition from the rising digital signage are the low deployment costs and longer lifespan of these types of signs. The convenience of deployment without the requirement for additional maintenance expenses is the major factor driving most organizations and companies to choose printed signage solutions.
Additionally, the market is seeing a lot of acquisition activities. As an example, commercial printer Minuteman Press-Spokane Valley announced in April 2023 that it had acquired Spokane-based WrapCo Signs & Wraps, a business that produces signs and advertisements with vinyl wraps. With its headquarters in New York and more than 1,000 independently owned and run franchise locations globally, Minuteman Press is a full-service printing and marketing company.
High-impact graphics including banners, posters, signs, charts, announcements, diagrams, and marketing displays are produced using large format printing. Many different businesses and organisations utilise printed signage in their everyday operations, particularly for marketing and advertising. This is widespread in retail spaces, lobbies, tradeshows, showrooms, event spaces, and points of sale.
Market Restraints:
Because it can't be readily changed or moved if it is large and mounted, print signage is less adaptable than digital signage. Due to this aspect, sales of print signs are declining while the demand for digital signage is surging worldwide.
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COVID 19 Analysis
For small, medium, and large-scale industries around the world, the COVID-19 outbreak has caused economic instability. Industry losses and global supply chain and manufacturing operations disruptions are additional effects of the global government's lockdown. As a result of the fluctuating demand from different end-user sectors, the printed signage market has experienced mixed results. Printed signage has seen a considerable reduction in the majority of end-user sectors.
Market Segmentation
By Type
Banners and backdrops, corporate graphics, exhibitions and trade shows, backlit displays, pop displays, billboards, and other signage forms are all included in the type-based segmentation of the printed signage market. In 2022, the banner and background market was the largest in the world. This is as a result of its extensive use in the retail industry. Particularly in the retail sector, these have a history of enticing customers to make impulsive purchases and attracting them into the business.
By Technology
With respect to print technology, the printed signage market is segmented into screens, inkjet, sheetfed, and other print technologies. In 2022, the global market was dominated by the sheetfeed category. This is as a result of vendors increasing their expenditures on sheetfed presses. As an illustration, in August 2021, Yintong Corporation and China Print signed a contract for the purchase of 56 multicolor RMGT 920 series sheetfed presses, which will be delivered and installed over the ensuing three years. The arrangement for all 56 presses at China Print 2021 was signed by Yintong, an online supplier of print or a web-to-print business, and Beijing Jia He Ding Xin Technology & Business, better known as Dinga, the RMGT distributor in China.
By End User
BFSI, retail, transportation and logistics, healthcare, and other end-user verticals (sports and entertainment, etc.) are the end-users of printed signages. In 2022, the printed signage market was led by the retail sector. As the retail industry focuses on expanding and makes large investments in advertising and marketing, it is projected that the market for printed signs will increase even more. The retail industry has grown rapidly thanks to e-commerce, but brick-and-mortar businesses still account for the vast bulk of sales. Despite this, e-commerce is growing swiftly.
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Regional Insights
With the greatest share of 45.80%, the North American printed signs market grabbed the top spot in 2022. This is a result of growing retail sector demand and the prominence of specialty product suppliers. Additionally, the U.S. market established itself as the dominant force in the area, while Canada is expected to grow at the quickest rate in the next years.
In 2022, the European market had a sizable market share. This is because the retail business is spending more on marketing and advertising. According to The Advertising Association (U.K.) Report, the amount spent on advertising in the UK will increase by 24.8% this year to EUR 29.3 billion. The German market is the largest in the area, but the United Kingdom will grow at the quickest CAGR going forward.
From 2023 to 2032, it's anticipated that the Asia Pacific industry will experience significant expansion. The availability of raw materials, population growth, entry into new end-user markets, increasing product innovation, rising product sales, expansion of the retail, office, healthcare, and hospitality sectors, and rising disposable income are all important market expansion drivers. In addition, the Indian printed signage industry had the quickest rate of growth in the Asia-Pacific region, while China's printed signage market had the largest market share.
In India, businesses in the fintech, e-commerce, OTT, real estate, and hyperlocal services sectors are among the leading advertisers of print signs. Other corporations closely monitoring this market include those in the automotive, mobile phone, consumer durables, IPL teams, and tech sectors. The sector's expansion is also being fueled by greater media owner consolidation and a rise in the use of printed OOH's comparatively high-end properties. The pandemic also forced an industry-wide reset and encouraged investments in tech-driven signs media measurement. Delivering immersive communication has seen significant technical expenditures, setting OOH apart from other media like large-format outdoor advertisements.
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