PRINTED SIGNAGE MARKET ANALYSIS

The global printed signage market is projected to reach around US$ 52.9 Bn by 2030, exhibiting a CAGR of 3% during the forecast period (2023-2030).

Global Printed Signage Market: Drivers

• Rising usage of printed signage: Increasing usage of printed signage across shopping malls, retail stores, and other places over digital signage is predominantly fueling the growth of the global printed signage market. Ease of deployment without the need for additional maintenance costs is again propelling the market growth.
•  Increasing demand from the retail industry for Printed signage: The retail signage industry is expanding rapidly and is investing heavily in advertising and marketing. Print signage can encompass a variety of items, such as posters, banners, backdrops, pop-up displays, and graphics, and is expected to remain a lucrative market, as the retail sector continues to grow. E-commerce is growing at a rapid rate, it is a major factor in the growth of the retail sector, and while the traditional retail sector still holds a significant portion of the market.

Global Printed Signage Market: Restraints

• Lack of knowledge among consumers: The market growth is expected to be hindered by the increasing competition from viable alternatives, such as digital signage, as well as by the increasing adoption of digital signage and the digitization of economies. Furthermore, fluctuations in raw material prices are expected to impede the growth of the market. Furthermore, the prevailing trends in online advertising and broadcasting, further exacerbated by the COVID-19 pandemic, will impede the market growth.
• Counterbalance: At the time of choosing signage, eco-friendly materials can be used. Eco-friendly signage are made using sustainable and renewable materials, which is a viable alternative as opposed to non-environment-friendly materials like digital signage. For example in place of PVC (Polyvinyl Chloride) or other plastics which are not biodegradable, recyclable materials like wood or polypropylene can be used instead. Some of the most commonly used species are marine plywood, oak, and birch plywood.

Figure 1. Global Printed Signage Market Share (%), By Region, 2022

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 Global Printed Signage Market: Opportunity

• Rapid increase in acquisitions and mergers between companies: The market is experiencing various acquisition and merger activities, which is expected to serve major growth opportunities over the forecast period. For instance, in April 2022, DXBA and Astra Signs merged to become a combined entity that provides both traditional and digital signage to customers. Also, in February 2021, A|A Signs, a Baltimore, U.S.-based sign manufacturer that specializes in commercial real estate signage for a variety of businesses in the Baltimore area, joined the Strategic Factory, a U.S.-based single-point provider of Print, Signage, Brand Products, and Marketing services.
• Growing demand for large format printing: Large format printing is gaining traction in the market. They are used to create high-impact visuals such as banners, signs, posters, charts, diagrams, announcements, and marketing displays. They are also used for day-to-day operations, especially for advertising and marketing purposes. This is mostly across retail locations, showrooms, tradeshows, event venues, and points of purchase.

In 2020, Durst, a US-based manufacturer of advanced digital printing solutions and various production technologies, acquired Vanguard for an undisclosed amount. This acquisition will strengthen Durst in the US graphic market. Vanguard is a US based manufacturer of various forms of printers, including large format printers, which are used in industrial, corporate, décor, and packaging.

 Global Printed Signage Market: Trends

• Manufactures are increasingly investing in the production of signage: Canon is a leading manufacturer of cameras, printers, and other imaging equipment, and the company has recently made significant investments in the production of signage. In 2020, Canon launched the Colorado 1650 printer, which is designed specifically for the production of high-quality signage. The printer uses UV gel technology to produce high-quality prints on a variety of materials.

Global Printed Signage Market: Key Developments

• Signage in retail, One example of innovative signage in retail is the use of augmented reality (AR) displays. AR displays allow customers to interact with products in a virtual environment, providing a more engaging and immersive shopping experience. For instance, in 2021, Nike launched an AR-powered sneaker try-on experience that allows customers to see how different sneakers look on their feet before making a purchase
• In April 2021, ORAFOL Group acquired NUPRO Advanced TPU Films in South Deerfield, Massachusetts, U.S. The partnership will allow ORAFOL and NUPRO to further grow their core businesses by expanding their production operations and capabilities.
• In April 2021, Schweiter Technologies expanded its 3A Composites core materials business in Poland with the addition of PET foam production, as well as signing and closing a deal to buy 40% of JMB Wind With facilities in Poland and Portugal. JMB, based in Goleniów, Poland, is a leading firm in core materials, kit design, and production, primarily for wind turbines.
• For instance, in 2021 Epson India will introduce the Sure Color 5030 and SureColor R5030L, two new large-format latex printers, to the market. These offer a quick lamination option and low-cost inks for high-performance signage printing.
•  It is primarily made to provide flexibility in applications, quick, high-quality printing, and other things.

Global Printed Signage Market: Regional Analysis

• Asia Pacific is projected to lead the global printed signage market in the near future due to an increase in the number of manufacturers and the development of signage printers with cutting-edge technologies and sophisticated designs.
• Regionally, Asia Pacific dominated the global printed signage market 39% in terms of revenue, in 2022, followed by North America and Europe, respectively.      

Global Printed Signage Market: Segmentation

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. 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

Figure 2. Global Printed Signage Market Share (%), By End- User Verticals, 2022

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On the basis of end user verticals, in 2022, the retail segment accounted for the largest market share of 48% in terms of value, followed by the transportation and logistics segments.                

Global Printed Signage Market: Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic resulted in worldwide lockdowns, which has had a significant impact on supply chain and manufacturing operations. This had a mixed effect on the global printed signage market, as the demand has shifted from one end user industry to another. The pandemic has caused a decrease in travel worldwide, which has impacted the transportation and logistics industries, thus limiting the use of outdoor printed signage,

Global Printed Signage Market: Key Companies

The key companies operating in the global printed signage market are 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.

*Definition: With more consumers shopping online and in traditional stores, printed signage is becoming a key part of marketing strategies. It can help retailers in increasing sales and profits. Also, it can help increase the customer retention.