April 24, 2024

Printed Signage Market Is Driven By Growing Advertising And Promotional Activities

Signage helps businesses promote products, events, locations and drive brand awareness for their goods and services. Printed signs let businesses convey complex sales messages and visual information to large audiences both indoor and outdoor. Advantages of printed signage include flexibility of design and message, durability of print quality and cost effectiveness for mass communication. The growing need of businesses to promote new offers, sales, events and locations is driving the demand for customized printed signage solutions.

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.

The growing demand from retail, healthcare and transportation sectors for commercial advertising is driving the printed signage market. Various offline and online retailers are increasingly using printed signage for seasonal promotions, product launches and interior decorations to attract customers. Moreover, hospitals, clinics and other healthcare facilities rely on custom printed signs for guiding patients and ensuring safety compliance.

The Printed Signage Market Size is expanding globally due to increasing construction of commercial real estate and public infrastructure in developing countries. Rapid urbanization and growth of retail shopping complexes, restaurants, malls and other business districts require professionally designed and durable signage systems for effective navigation and communication. Countries like China, India, Brazil and Mexico offer huge untapped growth opportunities for printed signage manufacturers.

Market drivers
The main driver for the printed signage market is the need for effective communication and promotion across various end-use industries. As competition increases across sectors, companies rely more on customized print signage near point-of-sales, entrances, product aisles and office spaces to communicate the right messages to customers and employees. Ongoing technology advancements are also supporting higher print resolution, durability and potential for digital signage integration. This is estimated to drive the demand for innovative printed signage solutions during the forecast period.

The current geopolitical situation is greatly impacting the growth of the printed signage market. With rising tensions between countries and closing of borders due to pandemic, supply chains have been disrupted significantly. Raw material procurement and transportation of finished products across borders has become difficult. This has hampered the production volumes and increased the costs for manufacturers in the printed signage market. Printed signage finds wide usage in retail stores, malls, airports and other public places for advertising and directing people. With restrictions on public gatherings and closures of non-essential businesses, the demand from major end-use sectors has nosedived during the pandemic. However, with mass vaccination drives and gradual lifting of lockdowns, economic activities are restarting slowly.

This provides hopes for revival in demand. But recurring waves of virus and emergence of new variants continue to raise concerns. The printed signage market players need to closely monitor the geopolitical conditions and devise supply chain contingency plans. They must focus on developing local sourcing networks and building multiple manufacturing/assembly facilities across different regions to maintain business continuity even during crises. Diversifying into new application areas and customer segments can help offset risks from prevailing uncertainties.

North America currently accounts for the largest share of the global printed signage market in terms of value. This is attributed to wide presence of retail stores, shopping malls, transportation networks and other commercial infrastructure that extensively use signage for advertising and navigation purposes. Europe follows North America in the market with growing emphasis on digital signage. Asia Pacific is identified as the fastest growing regional market for printed signage driven by booming construction activities and rapid urbanization in countries like China and India.

Rising consumerism and establishment of new malls and commercial districts continually spur the demand. Countries in Middle East & Africa and South America are emerging as lucrative markets and offer substantial untapped opportunities for manufacturers looking to expand their geographic footprints.

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