The printed signage market is influenced by various market factors that shape its dynamics and growth trajectory. One significant factor is technological advancement. With innovations in printing technology such as digital printing and UV printing, the printed signage industry has witnessed a transformation in terms of quality, speed, and customization capabilities. This has led to increased demand for printed signage across various sectors including retail, hospitality, and transportation.
The Printed Signage market is projected to grow from USD 42.0 Billion in 2023 to USD 45.8 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 1.10% during the forecast period (2023 - 2032).
Moreover, economic conditions play a crucial role in determining the growth of the printed signage market. Economic stability, consumer spending power, and business confidence directly impact the demand for signage solutions. During periods of economic growth, businesses tend to invest more in marketing and advertising, leading to an uptick in demand for printed signage to promote their products and services.
Another market factor influencing the printed signage industry is changing consumer preferences and behavior. As consumers become more digitally savvy and environmentally conscious, there is a growing demand for sustainable and interactive signage solutions. Printers in the signage industry are adapting to these preferences by offering eco-friendly materials and incorporating interactive elements such as QR codes and augmented reality into their signage designs.
Furthermore, regulatory factors play a significant role in shaping the printed signage market. Regulations related to signage size, placement, and content vary across different regions and industries. Compliance with these regulations is crucial for businesses to avoid penalties and legal issues. Additionally, environmental regulations regarding the use of certain materials in signage production also impact market dynamics, driving the adoption of eco-friendly alternatives.
Competition within the printed signage market is another key factor influencing its growth and development. The market is highly competitive with numerous players ranging from large printing companies to small-scale print shops. Price competition, quality differentiation, and innovation are key strategies adopted by players to gain a competitive edge in the market. Additionally, partnerships and collaborations with other businesses such as advertising agencies and graphic design firms are common strategies employed by players to expand their market reach and offerings.
Moreover, market factors such as demographic trends and urbanization also influence the demand for printed signage. Urbanization leads to the development of infrastructure such as shopping malls, airports, and transportation hubs, creating opportunities for signage installations. Demographic trends such as population growth and changing consumer demographics also drive the demand for signage solutions tailored to specific target audiences.
Lastly, the COVID-19 pandemic has had a significant impact on the printed signage market. With social distancing measures and restrictions on in-person gatherings, businesses have increasingly relied on signage to communicate health and safety guidelines to customers and employees. Additionally, the shift towards e-commerce and online shopping during the pandemic has led to increased demand for signage solutions to enhance the visibility of online brands in the physical world.
Report Attribute/Metric | Details |
---|---|
Growth Rate | 1.10% (2024-2032) |
Printed Signage Market Size was valued at USD 41.5 Billion in 2022. The Printed Signage market is projected to grow from USD 42.0 Billion in 2023 to USD 45.8 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 1.10% during the forecast period (2024 - 2032). Economies of scale, an increase in the usage of printed signage for marketing and advertising, and a globalization of brand identities, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The market for printed signage is expanding primarily due to an increase in the use of printed signage over digital signage in shopping centres, retail establishments, and other locations. Market expansion is once again being driven by ease of deployment without the requirement for additional maintenance expenses. The retail sector's increasing emphasis on investing in advertising to acquire a competitive edge in the market is once more driving market expansion. For instance, Amazon secured a $400 million contract with Kornit Digital in October 2020, making it the largest print equipment sale of the year. The five-year agreement covers existing Kornit printers and ink valued at USD 250 million as well as an additional USD 150 million for potential future items. Amazon will considerably improve its on-demand printing capabilities by purchasing the kit.
The market's expansion is primarily driven by cost-effectiveness, since it provides affordable and effective signage solutions for a variety of sectors. The main factors assisting 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 organisations and companies to choose printed signage solutions.
Today, it is considerably easier to promote a brand internationally due to the widespread availability of the internet and the expansion of social media. A well-known brand identity can help expand markets and promote new product varieties that are catered to regional tastes. Brands can be effectively promoted through signage in international markets. Whether the goal is to debut a new brand or keep an existing one in the public eye, eye-catching signage placed in prominent locations will draw attention to the brand in a neighbourhood.
Changes in the local and global economy's performance will have an impact on the demand for promotional and informative printed signage. Government and private investment in buildings and infrastructure tends to increase as economies grow, which raises the demand for informative signs. Similarly, as shops and brand owners battle for this surge in sales, consumers become more self-assured and spend more on goods and services, which increases the demand for promotional signage. Thus, driving the Printed Signage market revenue.
The Printed Signage Market segmentation, based on type, includes banner and backdrop, corporate graphics, exhibitions, and trade shows, backlit displays, pop display, billboards, and other signage types. Banner and backdrop segment dominated the global market in 2022. This is due to its wide-ranging use in the retail sector. These have a history of encouraging customers to make impulsive purchases and drawing them inside the store, particularly in the retail industry.
The Printed Signage Market segmentation, based on print technology, includes screen, inkjet, sheetfed, and other print technologies. Sheetfeed segment dominated the global market in 2022. This is because vendors are spending more money on sheetfed presses. In August 2021, for instance, Yintong Corporation contracted with China Print to buy 56 multicolor RMGT 920 series sheetfed presses, which will be supplied and installed over the following three years. RMGT's Chinese distributor, Beijing Jia He Ding Xin Technology & Business, also known as Dinga, and Yintong, an online supplier of print or a web to print company, signed the agreement for all 56 presses at China Print 2021.
The Printed Signage Market segmentation, based on end user vertical, includes BFSI, retail, transportation and logistics, healthcare, and other end-user verticals (sports and entertainment, etc.). Retail segment dominated the Printed Signage Market in 2022. The market for printed signs is anticipated to rise more as the retail sector concentrates on growing and makes significant investments in advertising and marketing. The rise of e-commerce has helped the retail sector grow exponentially, but brick-and-mortar stores continue to hold the majority of the market. Nevertheless, e-commerce is expanding very quickly. ​
Retail signage can range from backgrounds, banners, and pop-up displays to graphics and posters. Signage has long been an important instrument for quickly conveying messages to viewers as well as for evoking feelings and an atmosphere that live up to a brand promise and indicate essential organisational signals.
The Printed Signage Market segmentation, based on application, includes indoor and outdoor. Outdoor segment dominated the Printed Signage Market in 2022. This is a result of outdoor advertising becoming more and more prevalent.
Figure 1: Printed Signage Market, by Application, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North America Printed Signage Market dominated this market in 2022 (45.80%) This is a result of the expanding demand from the retail sector and the significance of specialized product suppliers. Further, the U.S. Printed Signage market held the largest market share, and the Canada Printed Signage market was the fastest-growing market in the North American region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: PRINTED SIGNAGE MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Printed Signage market accounted for the healthy market share in 2022. This is explained by the rise in advertising and marketing expenditures in the retail industry. The Advertising Association (U.K.) Report estimates that UK advertising spending would rise by 24.8% this year to EUR 29.3 billion. Further, the German Printed Signage market held the largest market share, and the U.K Printed Signage market was the fastest growing market in the European region
The Asia Pacific Printed Signage market is expected to register significant growth from 2023 to 2032. Raw material availability, population growth, expansion into new end-user markets, increased product innovation, rising product sales, expanded retail, office, healthcare, and hospitality, and rising disposable income are all factors that have a major impact on the expansion of the market. Moreover, China’s Printed Signage market held the largest market share, and the Indian Printed Signage market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Printed Signage market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Printed Signage industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Printed Signage industry to benefit clients and increase the market sector. In recent years, the Printed Signage industry has offered some of the most significant advantages to medicine. Major players in the Printed Signage market, including 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, and L&H Sign Company Inc., are attempting to increase market demand by investing in research and development operations.
Epson, a division of Seiko Epson Corp., creates, produces, and markets printing solutions, visual communications equipment, wearable technology, and other goods. Inkjet printers, smart glasses, industrial robots, sensing apparatus, crystal units, wristwatches, watch movements, page printers, serial impact dot matrix printers, print consumables, dry process office papermaking systems, semiconductors, colour image scanners, surface finishing, 3LCD projectors, and metal powders are among the main products of the company. These goods are offered for sale under the Espon brand. The business sells products for use in consumer electronics, industrial equipment, and automotive applications. The business has activities in the Americas, Europe, the Middle East, Africa, and Asia-Pacific. The headquarters of Epson are in Suwa-Shi, Nagano, Japan. Epson introduced two new sign printers in February 2021, both of which include quick lamination, superior scratch resistance, and multi-purpose resin ink for a variety of uses.
The ORAFOL Group produces industrial tapes and reflective materials. The company sells reflective materials for purposes such as traffic signs, vehicle conspicuity, personal safety, and maritime safety as well as tapes for sign, screen print, and digital imaging applications. In South Deerfield, Massachusetts, the ORAFOL Group purchased NUPRO Advanced TPU Films in April 2021. By extending production operations and capabilities, the cooperation will enable ORAFOL and NUPRO to further develop their core businesses.
April 2022 Through a direct capital increase, 3A Composites has agreed to buy a 25% stake in Swedish International AB, expanding its product line in the display industry and utilising Sweden's natural fibre board manufacturing plant. Swedboard International AB, a creative business with its headquarters in Katrineholm, Sweden, creates and markets eco-friendly boards for the graphics display sector.
Printed Signage Type Outlook
Printed Signage Print Technology Outlook
Printed Signage End User Vertical Outlook
Printed Signage Application Outlook
Printed Signage Regional Outlook
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)