by Printed signage includes signboards, banners, posters, signage systems and graphics used majorly in retail stores, shopping centers, hotels, airports and outdoor advertisements to provide product and brand information as well as directional guidance. Printed signage plays a vital role in branding, marketing and visual communication for various businesses. The growing demand of businesses to promote their product offerings and brand through attractive signage designs has been a key factor driving the demand in the global printed signage market. Various advantages of printed signage over traditional signage such as flexibility of design, cost effectiveness, longevity and visually appealing aesthetics have increased its demand.
The global Printed Signage Market is estimated to be valued at US$ 43.07 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the Global printed signage market size has been the adoption of illuminated and backlit signs. These signs have the ability to illuminate and glow even in low-light conditions, thereby catching more attention of viewers. They provide clear messages even from a distance due to built-in LED or fiber optics lighting. Installation of illuminated signs is increasing at airports, malls, highways and business districts providing 24-hour brand exposure. Manufacturers are focusing on developing innovative printed signage products integrated with advanced technologies such as light guides, projection and interactive display which is expected to provide new opportunities over the forecast period.
Porter’s Analysis
Threat of new entrants: Low entry barriers such as low capital requirement and costs makes threat of new entrants high in the printed signage market.
Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes and less differentiation in products.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitute raw materials.
Threat of new substitutes: Threat from substitutes like digital signage is moderate due to cost advantage of printed signage over digital signage.
Competitive rivalry: The printed signage market is highly fragmented with presence of numerous local and international players leading to high competitive rivalry.
Key Takeaways
The global printed signage market is expected to witness high growth over the forecast period. The global Printed Signage Market is estimated to be valued at US$ 43.07 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030.
Regional analysis: North America dominates the global printed signage market due to wide adoption across industries in the region. Asia Pacific is expected to witness the fastest growth over the forecast period supported by growth of end use industries in China and India.
Key players: 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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
