The printed signage market was valued at USD 45.734 billion in 2018 and is expected to reach a value of USD 46.702 billion by 2024, at a CAGR of 0.31%, during the forecast period (2019 - 2024). With the retail industry focusing on expanding and investing considerably in advertising and marketing, the market for printed signage is expected to witness significant demand during the forecast period.
- The lower investment required for deploying the printed signage types of signs and longer life span are the major factors helping the printed signage market to survive, with intense competition from the emerging digital signage.
- New printing technologies and ink jet printing have enabled high-definition and attractive printed signage at lower costs.
- The growing adoption of digital signage technologies and reducing costs of the systems are offering flexible signage operations to the consumers at comparable costs. Customization options offered by digital signage are helping this adoption, which is restraining the growth of the printed signage market.
Scope of the Report
Printed signage is the most widely used form of signage solution, that is majorly employed for marketing and advertisement to attract consumers and expand knowledge regarding the availability of product and features through billboards, backlit displays, among others. Large format printing is used to create high-impact visuals, such as banners, posters, signs, announcements, charts, diagrams and marketing displays. Printed Signage is used by a wide range of companies and organizations for day-to-day operations, extensively for marketing and advertising purposes commonly across the retail locations, showrooms, lobbies, tradeshows, event venues, school campuses and points of purchase.
Key Market Trends
BFSI Sector is Expected to Grow at a Significant Rate
- The banking industry worldwide is growing at a significant rate propelling the number of ATMs, owing to the rising population and need for the cash dispensing machines.
- The printed signage has found its application across the banking buildings for various actions, such as direction, counter, and parking. However, the companies are highly investing an enormous amount of money on digital signage
- Banking financial services and Insurance domain has integrated many of the brand promoting programs, mostly either of the public or private infrastructure services that depend on the BFSI domain to perform their missions and these innovative revenue generating sources has helped the banking sector across the united states to record y-o-y growth in the recent past.
United States to Hold a Significant Market Share
- The advertisements of media firms in magazines, outdoor facilities, and newspapers have a stable scale across the marketplace of the region. With well-established distribution channels for any type of company especially in the retail industry, the US market is an attractive option for the vendors of various economies across the region.
- The large affluent consumer base is also attracting many retailers to open new stores to serve them. Since advertising is the major key factor in the success of the end-user industries, the market for printed signage is expected to be positively affected by the growth across the region.
The printed signage market is highly competitive and consists of several major players. In terms of market share, few of the players currently dominate the market. With the rising demand for printing along with technological advancement across the emerging economies, many companies are increasing their market presence thereby expanding their business footprint across the new markets.
- April 2019 - Avery Dennison, officially opened its first intelligent label innovation space in the Asia Pacific and Sub Saharan Africa region. The new Avery Dennison I.Lab, located in Pune, India, is an interactive facility that provides customers and partners with hands-on experiences, live demonstrations, and technical support, to help converters and partners explore the opportunities surrounding intelligent label solutions and RFID adoption.
- February 2019 - Mactac has launched a new, innovative tamper-evident labelstock designed to increase brand protection against product tampering, warranty fraud, and asset theft. A non-PVC, destructible labelstock, the tamper-evident product, LTCNVP50, has a unique balance of high tensile strength with low internal strength making it easy to convert on the press, but extremely difficult to peel off or remove once applied.
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