Market Research Report
Global Printed Signage Market - Segmented by Product, Type (Indoor, Outdoor), End-user, and Region - Growth, Trends, and Forecast
|Published by||Mordor Intelligence LLP||Product code||659333|
|Published||Content info||102 Pages
Delivery time: 2-3 business days
|Global Printed Signage Market - Segmented by Product, Type (Indoor, Outdoor), End-user, and Region - Growth, Trends, and Forecast|
|Published: May 14, 2018||Content info: 102 Pages||
The global printed signage market was valued at USD 45.734 billion in 2017, and is expected to reach a value of USD 46.702 billion by 2023, at a CAGR of 0.31%, during the forecast period (2018-2023). Printed signage is the most widely used form of signage solutions, across the globe. This signage is deployed for two purposes, which include solutions that are employed for marketing and advertisement to attract consumers and expand the knowledge regarding the availability of product and features through billboards, backlit displays, etc. The other applications include signage or "signs" deployed for conveying information to the observer, known as information signs, which includes exit signs, traffic signs, elevator signs, and other forms of printed signage deployed in many areas. The market can be primarily classified into indoor and outdoor, with applications varying depending on the user. Currently, indoor printed signage applications are dominating the market, with the highest share. The printed signage for information signs, directions, and traffic applications, is witnessing a lower demand, with the emergence of digital signage.
Price-sensitive consumer base and low awareness regarding digital signage in under developed and in many parts of developing nations have a negative influence on the adoption of digital signage, which is indirectly helping the printed signage market to gain a customer base in these regions. The market is expected to witness a low growth rate over the forecast period.
Cost-effectiveness is one of the primary factors that drove the adoption of printed signage in many industries. Printed signage was the only available form of information signs and banners for a long period, until the advent of LEDs and digital displays & signs. Many industries looking for advertising and information signs tend to prefer printed signage solutions. Easy availability of printed signage is also one of the important factors favoring the growth of this market. The market for printed signage is highly fragmented in many nations, with local players and small companies accounting for much of the market share. Small businesses looking to deploy signage tend to approach local manufacturers for smaller volumes. This is impacting the growth of the market.
Billboards are one of the most visible and a predominant outdoor signage form. Billboards are large advertising structures used for branding, advertise events, and products. They have been the most trusted form of outdoor advertisements, since they are highly visible. The market is currently offering various sizes of billboards. The design of the billboards is majorly dependent on factors, such as the location of the signs, advertising budgets and the type of the products, which is supposed to be promoted. Even though billboards are one of the predominant forms of printed signage, they are affected by the emergence of the digital signage. Even though the traditional digitally printed billboards are an inseparable part of the marketing strategies of the businesses, it has been losing ground to the more customizable options, which are more attracting to the customers. However, the developing economies are still largely dependent on the static billboards for outdoor advertisements. Even though the digital signage has been growing rapidly, it will not wash out the traditional billboards, as the small-scale promotions may not afford the digital signage. The usage of printed and digital strategies simultaneously is also gaining prominence among certain business segments to achieve better overall outreach.
Despite the sluggish growth, the retail sales in China grew by 13%, mostly characterized by the growth in the convenience stores, and it continues to be the lucrative market. Younger population and high per capita income is driving the Malaysian retail industry, and the country is becoming a favorable destination of international retailers. This growth in the retail industry will provide impetus to the growth of printed signage in the region. With the rewards of vast raw materials and cheaper production costs, the region has emerged as the most favorable one and fastest in terms of growth.
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