The global printed signage market size was valued at USD 40.79 million in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 0.18% from 2022 to 2030. Factors such as cost-effectiveness is primarily driving adoption of printed signage across wide range of industries. Growing use of printed signage for marketing and advertisement purpose is again expected to foster the market growth.
Global Printed Signage Market: Regional Insights
North America is expected to gain significant growth over the forecast period owing to the rapid adoption of smart technology coupled with the expanding retail sector in the region. According to Alist Daily, during the first two months of 2021, retail advertisers in the United States spent almost USD 1.8 billion on advertising in the country.
At the same time, Europe is anticipated to witness fastest growth over the forecast period and this is attributed to the increasing spending of retail sector in advertising and marketing. According to the Advertising Association (UK) Report, UK advertisement spending would increase by 24.8% the current year to EUR 29.3 billion. This month's data outperforms July's forecast (+18.2 percent) by 6.6% points, giving it the highest yearly increase on record.
Figure 1. Global Printed Signage Market Value Share (%), By Region, 2021
Global Printed Signage Market Drivers:
Increasing usage of printed signage across shopping malls, retail stores, and other places over digital signage is predominantly fueling the growth of printed signage market. Ease of deployment without need for additional maintenance cost is again propelling market growth.
Growing focus of retail industry to investment on advertisement in order to gain competitive edge in the market is again propelling market growth. For instance, in October 2020, Amazon has signed the biggest print equipment deal of the year, a contract for USD 400 million with Kornit Digital. The five-year deal is for USD 250 million worth of existing Kornit printers and ink and a further USD 150 million for future products. By investing in the kit, Amazon will significantly expand its on-demand printing capabilities.
Global Printed Signage Market Opportunities:
The market is experiencing various acquisition and mergers activities which is expected to serve major growth opportunities over the forecast period. For instance, in April 2022, DXBA and Astra Signs have merged to become a combined entity that provides both traditional and digital signage to customers.
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, mostly across retail locations, showrooms, tradeshows, event venues, and points of purchase.
|Base Year:||2021||Market Size in 2021:||US$ 40.79 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2022 to 2030|
|Forecast Period 2022 to 2030 CAGR:||0.18%||2030 Value Projection:||US$ 42.23 Mn|
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
|Restraints & Challenges:||
Global Printed Signage Market Trends:
Increasing manufacturer spending on increasing signage production is one of the major trend observed in the market. For instance, in November 2021, Paddock, specializing in producing indoor and outdoor signage, invested in the Acuity Ultra to enhance the signage production business and future-proof its business to keep up with the demands that customers place, from high quality to fast turnaround times. The company has already been investing in Fujifilm by installing two Fujifilm Uvistar printers
Growing trend of online shopping and increasing disposable income of consumers are other major factors propelling growth of the market.
Global Printed Signage Market Restraints:
Growing competition from viable alternatives such as digital signage are anticipated to hinder the market growth during the forecast period.
The outbreak of Covid-19 pandemic has resulted in a reduction in travel worldwide. This had a negative impact on the transportation and logistics industry, thus restricting the usage of outdoor printed signage.
Figure 2. Global Printed Signage Market Value Share (%), By Application, 2021
Global Printed Signage Market Segmentation:
The global printed signage market report is segmented into type, print technologies, application, end user vertical, and geography
Based on type, the market is segmented into Banner & Backdrop, Corporate graphics, Exhibitions & Trade Shows, Backlit Displays, Pop Display, Billboards, and Other Signage Types. Out of which, Banner & Backdrop is expected to dominate the global market over the forecast period and this is attributed their extensive application in the retail industry. These have been well-known to trigger impulsive buying habits of consumers and attract them towards the store, especially in the retail business.
Corporate graphics, Exhibitions & Trade Shows segment is also expected to witness significant growth in the near future and this is owing to their cost-effective nature and ease of use. Increasing number of trade shows every year is positively impacting the segment growth.
Based on print technologies, the market is segmented into Screen, Inkjet, Sheetfed, and Other Print Technologies. Out of which, Inkjet is expected to dominate the global market over the forecast period owing to its ability to offer attractive design benefits for signs, displays, banners, and décor. Moreover, it also has ability to print on various substrates, such as paper, vinyl, and polyester
Sheetfed segment is also expected to witness significant growth in the near future and this is owing to the increasing investment by vendors on sheetfed presses. For instance, August 2021, Yintong Corporation signed up for the purchase of 56 multicolor RMGT 920 series sheetfed presses at China Print to be delivered and installed over the next three years. The deal for all these 56 presses was signed at China Print 2021 by Yintong which is an on-line supplier of print or a web to print company with RMGT’s Chinese distributor, Beijing Jia He Ding Xin Technology & Business known as Dinga.
Based on application, the market is segmented into Indoor and Outdoor. Out of which, outdoor is expected to dominate the global market over the forecast period and this is attributed to the growing popularity of outdoor advertising.
Based on end user vertical, the market is segmented into BFSI, Retail, Transportation and Logistics, Healthcare, and Other End-User Verticals. Out of which, BFSI is expected to dominate the global market over the forecast period. Banking and financial sector is one of the biggest advertising spenders in the world. Most organizations, use this method to support digital campaigns and enable rapid customer conversion. For instance, American Express stands out as having the greatest advertising and marketing spend among major US financial institutions, at approximately USD 3.5 billion in fiscal 2020. It spent USD 1 billion in the fourth quarter of last year alone on new card acquisition. Furthermore, it intends to keep investing in marketing, estimating that it would spend up to USD 4.5 billion in 2021.
Retail segment is also expected to witness significant growth in the near future and this is owing to the expanding retail sector at exponential pace supported by robust growth in e-commerce industry. Retail signage can include banners, posters, and backdrops through to pop-up displays and graphics.
Global Printed Signage Market: Key Developments
Global Printed Signage Market: Key Companies Insights
The global printed signage market is highly competitive. This is attributed to continuous launch of new technologies due to ongoing R &D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on regional as well as global basis. Some of the key players 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 increase sales and profits. Also, it can help increase customer retention.
Printed Signage is used for a variety of applications, including advertising, public relations, and marketing. Printed signage can also help retail stores attract more shoppers by offering new seasonal products.
Increasing manufacturer spending on increasing signage production and growing usage of printed signage across shopping malls, retail stores, and other places over digital signage are fueling the growth of printed signage market. Growing trend of online shopping and increasing disposable income of consumers other major factors propelling growth of the market.
On the other hand, growing competition from viable alternatives such as digital signage are anticipated to hinder the market growth during the forecast period.
Key features of the study: