by Some key advantages of printed signage include flexibility in design and content, durability in outdoor conditions, wide format and resolution options. With growing need for companies to create brand awareness through advertising and marketing activities, printed signs are finding increasing usage across industries like retail, hospitality, events and others.
The Global Printed Signage Market is estimated to be valued at US$ 49.62 Mn in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the printed signage market are Zoetis, Merck & Co., Inc., Boehringer Ingelheim International GmbH, Bayer AG, Elanco, Ceva, West Way Health, Norbrook, DeLaval, ImmuCell Corporation, Advanced Animal Diagnostics, and Nimrod Veterinary Products Ltd. These companies are focusing on new product launches and acquisitions to strengthen their market position. For instance, in 2022, Zoetis launched several new products for livestock including vaccines and parasiticides.
The growing demand from end-use industries like retail, hospitality and real estate is expected to drive the printed signage market during the forecast period. With increase in the number of retail stores, shopping malls and commercial buildings, the need for directional signs, branding and promotional signs has risen substantially in recent years.
Technological advancements in printing like latex printing, UV printing and LED printing have enabled higher resolution images and graphics on various materials. This has increased usage of printed signs for indoor and outdoor applications. Developments in materials like vinyl, fabric and paper have also enhanced durability and lifespan of printed signs.
Market Trends
Some key trends being observed in the Printed Signage Market Size include increased demand for digital and smart printed signs. With growing digitization, companies are focusing on developing dynamic signage solutions that can be updated remotely. Rise of programmable LED and LCD signs are enabling changes in displayed content through mobile and web-based control systems. Another trend is use of environment-friendly materials like recycled plastic and paper for printed signs. Companies are promoting sustainable signage solutions to appeal to eco-conscious customers. Increased usage of large format prints above 8 feet is also a prominent trend, driven by need for big branding and outdoor advertisements.
Market Opportunities
Growing infrastructure projects in developing countries provide major opportunities for vendors in the printed signage market. Mega constructions of commercial spaces, transportation hubs and public utilities will bolster demand. Rise of co-working spaces and shared offices also presents an avenue as these premises require more directional and promotional signage. Additionally, increased focus of companies across industries on branding and marketing through innovative signage designs can further drive the printed signage market growth during the forecast period.
Impact of COVID-19 on Printed Signage Market Growth
The COVID-19 pandemic impacted the printed signage market growth negatively. The nationwide lockdowns impacted production facilities worldwide. Supply chains were disrupted severely affecting raw material procurement. Shutdown of retail outlets and public places led to less demand for signage purposes. However, with lifting of lockdowns and restarting of economic activities, the demand is picking up steadily.
In the pre-COVID era, the market was growing at a decent pace owing to rising number of retail stores, commercial spaces, event venues, and public infrastructure projects. Demand was strong across indoor and outdoor advertising through printed signage. However, the pandemic brought the market to a standstill temporarily.
Despite short term disruptions, the long term prospects remain positive. With reopening of economy, projects which were halted are restarting. Growing urbanization and infrastructure development globally will fuel future demand. Adoption of digital printing technologies is also opening new opportunities. Focus on social distancing norms is increasing need for guidance signage at public places. The market is expected to bounce back strongly and regain lost growth momentum in the coming years. Safety guidelines issued by governments may also boost demand.
Geographical Regions with High Printed Signage Market Value
The printed signage market in North America region accounts for the largest value share globally. The presence of major signage companies and developed retail and commercial infrastructure supports strong demand. The United States represents the bulk of regional market owing to huge retail sector.
Asia Pacific region is emerging as the fastest growing market for printed signage globally. Countries like China, India and Indonesia are witnessing rapid urbanization and infrastructure development. Growing middle class population is increasing spending on retail outlets, shopping malls, restaurants etc. This is having positive impact on signage requirements across the region. Strengthening of regional economies will drive the market growth substantially in the coming years.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
