by 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 3.0% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Printed signage includes signs, banners, posters and other printed visual communication materials used for both indoor and outdoor advertising. Printed signs are commonly used for directing customers, branding, informing and creating awareness. They offer advantages such as versatility, durability and high visibility which makes them an effective advertising medium. Printed signs come in a wide range of materials like PVC, paper, fabric and foam boards which allows for customization as per location and purpose. They play a vital role in marketing and business promotions for various industries including retail, healthcare, education, hospitality and entertainment. Increasing investment in brand building and outdoor advertising is expected to drive the demand for innovative and eye-catching printed signs.
Market Key Trends:
Digital printing technology is gaining popularity in the printed signage market. It allows printing directly onto a wide variety of substrates including flexible materials like vinyl, paper and fabric with high resolution and quality. Digital printing provides advantages like on-demand printing, variable data, unlimited design capabilities and reduced waste. It is increasingly being used for short run and customized printed signs. Another key trend is the growing demand for eco-friendly printed signs. Manufacturers are offering signage made from sustainable and recyclable materials like corn starch, bamboo and recycled paper & plastic in response to environmental concerns. They provide the same functionality as conventional signage while reducing the carbon footprint. Advancements in digital finishing technologies are also enabling enhanced aesthetics, textures and special effects on printed signs.
Porter’s Analysis
Threat of new entrants: Low-cost new entrants can disrupt the printed signage market as there are low entry barriers with the availability of low-cost printing technology. However, established players have significant brand value and recognition which new entrants may find difficult to achieve.
Bargaining power of buyers: The bargaining power of buyers is moderate as signage solutions can be substituted to some extent. However, buyers prefer well-known brands for printed signage solutions.
Bargaining power of suppliers: The bargaining power of suppliers is low in the printed signage market as there are many suppliers for raw materials like PVC boards, vinyl, etc.
Threat of new substitutes: The threat of substitutes is moderate as digital signage and other new forms of advertising are emerging. But printed signage has its own advantages in terms of durability, variety in designs, and lower maintenance costs.
Competitive rivalry: High due to the presence of numerous global and regional players operating in the printed signage market. Players compete on the basis of innovation, design, quality, and pricing.
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 demand for multi-colored and large-sized printed signboards in commercial sectors.
Regional analysis:
North America dominates the printed signage market currently, owing to rapid industrialization and ongoing construction activities. Asia Pacific is expected to witness the fastest growth due to rising infrastructure development in China and India.
Key players:
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. These players are focusing on new product launches and partnerships for business expansion.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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