July 24, 2024

The Digital Innovations Anticipated To Open Up The New Avenue For Printed Signage Market

The Printed Signage Market is estimated to be valued at Us$ 43.07 Bn in 2023 and is expected to exhibit a CAGR Of 3.0% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Printed signage refers to signage produced through printing technologies like screen, digital, and lithographic printing. It includes banners, posters, exhibition boards, vehicle graphics, and signs for retail, hospitality, healthcare, and commercial sectors. Printed signage provides effective visual communication and helps in brand building, product promotion, guiding people in public places, and informing about services. The quality, flexibility, and cost-effectiveness of printed signage make them a popular choice for various marketing and identification purposes.

Market Dynamics:

Rising urbanization and infrastructure development worldwide are fueling the construction of commercial buildings, malls, hospitals, airports, and other public places which require effective signage for navigation and branding. This is promoting the printed signage market growth. Furthermore, growing investments in outdoor advertising by businesses to create brand awareness are also boosting the demand for printed signage solutions. Additionally, continuous technological advancements in digital printing like UV-curable inks, latex inks, and LED curing are improving the print quality, durability, and versatility of printed signs. This is increasing the preference for printed signs over conventional signage.

 

Segment Analysis

 

The global printed signage market is segmented on the basis of product type, material, printing technology, end-use sector, and region. Based on product type, the banners segment held the largest market share in 2023 owing to increased promotional activities by various industries for branding and marketing. Banners are highly customizable as per the brand requirements and are cost-effective in nature. By material, the vinyl segment dominated the market as it provides durability, user-friendliness, and withstands outdoor conditions. In terms of printing technology, screen-printing led the segment in 2023 due to its cost-effectiveness for mass-production.

PEST Analysis

Political: Various regulations regarding public signage specifications impact the market. For e.g. – guidelines for signage size, illumination etc. Economic: Rise in promotional and branding activities across industries boost the demand. Growth in retail sector and smart infrastructure projects propel the market. Social: Increase in awareness regarding branding and promotions for businesses. Growing digitalization influence design trends. Technological: Adoption of digital printing technology enhances capabilities. Use of durable and flexible materials like vinyl creates opportunities.

Key Takeaways

The Global Printed Signage Market Demand is expected to witness high growth, exhibiting CAGR of 3.0% over the forecast period, due to increasing promotional and branding activities across industries.

Regionally, Asia Pacific dominated the market in 2023 and is expected to continue its dominance during the forecast period. This can be attributed to rapid industrialization and infrastructure development in the region. China, India, and Japan are major growth engines in the region.

Key players operating in the 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. Key players focus on expanding their product portfolio and adopting sustainable manufacturing practices to cater to evolving customer requirements.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it