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