The global printed signage market will surge from $US42 billion [$A64 billion) in 2023 to $US45.8 billion [$A70 billion] by 2032, according to a new report by Market Research Future.
“The market for printed signage is expanding primarily due to an increase in the use of printed signage in shopping centres, retail establishments and other locations,” according to the report, titled Printed Signage Market By Type, Print Technology, End User Vertical, Application, and Region - Forecast till 2032.
“Market expansion is once again being driven by ease of deployment without the requirement for additional maintenance expenses. In contrast to the software or electrical system powering a digital sign, print signage is dependable and unlikely to malfunction.
"Physical printed signs are very effective in signposting or branding when utilized correctly and with clear branding and content. Additionally, print signages are highly economical, particularly now that print technologies have evolved and material costs have decreased. In addition, because this sort of signage is so inexpensive, especially pop-ups, A-boards, vinyl tie-signs, and pull-up stands, several versions can be made for various events.
“The main factors aiding the printed signage market to endure in the face of fierce competition from the rising digital signage are the low deployment costs and longer lifespan of these types of signs.”
COVID 19 Analysis
For small, medium, and large-scale industries around the world, the COVID-19 outbreak has caused economic instability. Industry losses and global supply chain and manufacturing operations disruptions are additional effects of the global government's lockdown. As a result of the fluctuating demand from different end-user sectors, the printed signage market has experienced mixed results. Printed signage has seen a considerable reduction in the majority of end-user sectors.
Market Segmentation
By Type
Banners and backdrops, corporate graphics, exhibitions and trade shows, backlit displays, pop displays, billboards, and other signage forms are all included in the type-based segmentation of the printed signage market. In 2022, the banner and background market was the largest in the world. This is as a result of its extensive use in the retail industry. Particularly in the retail sector, these have a history of enticing customers to make impulsive purchases and attracting them into the business.
By Technology
With respect to print technology, the printed signage market is segmented into screens, inkjet, sheetfed, and other print technologies. In 2022, the global market was dominated by the sheetfeed category. As an illustration, in August 2021, Yintong Corporation and China Print signed a contract for the purchase of 56 multicolor RMGT 920 series sheetfed presses, which will be delivered and installed over the ensuing three years.
Regional Insights
With the greatest share of 45.80%, the North American printed signs market grabbed the top spot in 2022. This is a result of growing retail sector demand and the prominence of specialty product suppliers. Additionally, the U.S. market established itself as the dominant force in the area, while Canada is expected to grow at the quickest rate in the next years.
In 2022, the European market had a sizable market share. This is because the retail business is spending more on marketing and advertising. According to The Advertising Association (U.K.) Report, the amount spent on advertising in the UK will increase by 24.8% this year to EUR 29.3 billion.
From 2023 to 2032, it's anticipated that the Asia Pacific industry will experience significant expansion. The availability of raw materials, population growth, entry into new end-user markets, increasing product innovation, rising product sales, expansion of the retail, office, healthcare, and hospitality sectors, and rising disposable income are all important market expansion drivers. In addition, the Indian printed signage industry had the quickest rate of growth in the Asia-Pacific region, while China's printed signage market had the largest market share.
More details and free sample of the report available here.
