Printed Signage Market Is Estimated To Witness High Growth Owing To...

Printed Signage Market Is Estimated To Witness High Growth Owing To Rising Need For Promotion And Brand Visibility

Posted 2024-01-10 12:47:13

Printed signage refers to printed media such as signs, banners, posters and others that are used for marketing and promotional purposes. Printed signage plays a critical role in brand visibility and promotion. It helps businesses communicate key messages and information to target audiences regarding offerings, pricing, location and other relevant details. Some common forms of printed signage include yard signs, banners, posters, window clings, trade show displays and floor graphics. The global printed signage market is mainly driven by growing need of businesses across diverse industries to promote brands, new product launches and enhance visibility.

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 Dynamics:
One of the key drivers for the growth of printed signage market is the rising need for promotion and brand visibility. In the increasingly competitive business landscape, companies rely heavily on various promotional strategies and tools to build brand awareness, launch new products and services and enhance visibility. Printed signage serves as an effective outdoor and indoor marketing medium that helps companies communicate with target audiences. Moreover, printed signage allows flexible and impactful communications through different formats, sizes, shapes and designs as per the business requirement. The second driver is the growing adoption of digital printing technologies among signage companies which offers benefits like reduced production time, variable data printing and instant design changes. This driver along with first driver will continue to propel the demand for printed signage in coming years.

SWOT Analysis

Strength: Printed signage provides value to businesses by allowing them to effectively communicate and brand their business. Printed signage also provides versatility as it allows messages and visuals to be updated easily when needed. Printed signs have strong aesthetic appeal and are cost effective for communicating messages to target audiences locally.

Weakness: Printed signs have a shorter lifespan than digital signs. Environmental factors like weather, sunlight exposure can damage printed graphics more quickly over time. Producing and installing printed signs require more initial costs and labor than digital signage.

Opportunity: Growth in retail and commercial construction provides opportunities to install more printed signage for branding and wayfinding purposes. Advance printing technologies allow for higher resolution graphics and experimental materials that can make prints more durable. Rapid urbanization in developing regions increases demand for directional and commercial signs.

Threats: Rising environmental concerns may lead to policies restricting certain materials used for signs. Digital signage provides interactive and dynamic content which can attract more attention than static printed graphics. Mobile internet and social media enable alternative channels to reach audiences directly.

Key Takeaways

The global Printed Signage Market Share is expected to witness high growth over the forecast period of 2023 to 2030 supported by increasing commercial construction and retail expansion worldwide. The market size for printed signage is projected to reach US$ 43.07 Billion by 2024.

Regional analysis shows that Asia Pacific currently dominates the printed signage market with China and India being major consumers. Rapid urbanization and economic development in Asia Pacific countries continue to drive strong growth in commercial infrastructure and retail markets which maintains high demand for printed signage products. North America is another substantial regional market for printed signage due to well-established retail and hospitality industries requiring signage solutions.

Key players operating in the printed signage market are Zoetis, Merck & Co., Inc., Boehringer Ingelheim International GmbH, Bayer AG, Elanco. These leading companies focus on innovating printing technologies, materials and providing comprehensive signage solutions tailored for commercial clients globally. They also engage in mergers and acquisitions to expand product portfolios and geographical presence.