Printed Signage Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Printed Signage Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The Printed Signage Market was valued at USD 40.785 billion in 2021, and it is expected to reach USD 41.393 billion by 2027, registering a CAGR of 0.18% during 2022-2027. The COVID-19 pandemic has created economic turmoil for small, medium, and large-scale industries worldwide. The global government's lockdown has further resulted in industries taking a hit and disrupting the supply chain and manufacturing operations worldwide. Due to this, the printed signage market has had a mixed impact due to the change in demand from various end-user industries. In most of the end-user industries, printed signage witnessed a significant decline.

• Printed signage is one of the most widely used forms of signage solutions across the world. It is majorly employed to market and advertise products to attract consumers and expand their knowledge regarding the availability and features through billboards and backlit displays, among others. Historically, printed signage has been successful in engaging a customer, thereby fulfilling the need to grab attention which is the key to creating awareness within the few seconds that a vendor has before the customer moves on from their stores.
• Cost-effectiveness is the primary factor that drives the market growth, as it offers low-cost and efficient signage solutions for many industries. The low investments required for deploying these types of signs and a longer lifespan are the major factors that are helping the printed signage market to survive with intense competition from the emerging digital signage. The prime reason behind most of the businesses and companies that opted for printed signage solutions is the ease of deployment without the need for additional maintenance costs.
• The market is also witnessing multiple acquisition activities. For instance, in February 2021, Strategic Factory, a UD-based, single-point provider for print, signage, branded products, and marketing, announced that Baltimore sign manufacturer A|A Signs, which offers signage for commercial real estate developers and several businesses throughout the region would be joining the Strategic Factory organization. A|A Signs products include building signage, pylon signs, monument signs, vehicle graphics, fleet branding, impact logos, wayfinding, and directional signs.
• Large format printing is utilized to create high-impact visuals, such as banners, posters, signs, charts, announcements, diagrams, and marketing displays. Printed signage is being used by a wide range of companies and organizations for day-to-day operations, significantly for advertising and marketing purposes, commonly across retail locations, lobbies, tradeshows, showrooms, event venues, and points of purchase.
• Digital signage may incur greater expense initially than printed materials; however, it will present long-term savings. This factor is poised to provide significant competition to printed signage. Further, the longer lifespan and high resale value of the digital signboards also influence the adoption of these systems.​
• Moreover, the pandemic outbreak resulted in a drastic reduction in travel worldwide. This had a considerable negative impact on the transportation and logistics industry, thereby restricting the usage of outdoor printed signage. Also, the printed signage market has had a number of impacts due to changing demand from various end-use industries. Printed billboards have declined significantly in most end-user industries. However, end users, such as healthcare, witnessed increased demand to make signages related to COVID-19 precautions.

• With the retail industry focusing on expanding and investing considerably in advertising and marketing, the market for printed signage is expected to witness further growth. The retail sector is growing at an exponential pace, aided by the development of e-commerce; however, the brick-and-mortar industry still commands the major market share, but the growth of e-commerce is comparatively fast-paced. ​
• Retail signage can include anything from posters, banners, and backdrops to pop-up displays and graphics. Signage has always been a critical tool in instantly communicating messages to viewers and creating an atmosphere and emotion that deliver on a brand promise and signpost key organizational messages.​
• There are various types of retail signage, such as exterior retail signage and interior retail signage. Interior retail signage is focused on getting a customer to make a purchase, primarily to direct customers to specific locations in the store for sales, high-volume items, dressing rooms, or even restrooms. Exterior retail signage is considered an important kind of retail signage to create an engaging, up-to-date, and fresh invitation. ​
• Printed signage for retail stores varies in form and size based on location and intention. Still, the main motive for all, whether an expansive banner or a billboard, is to drive foot traffic and communicate with potential customers. These are placed on the storefront, banners, barricades, and every place of the retail store, and hence are a vital part of the retail business. ​
• Moreover, digital signage can influence shoppers by communicating the product's benefits to the customer and showing them. Solutions such as product kiosks provide shoppers with video demonstrations of their products, allowing them to connect how their products fit into their lives. The right visual solution can create a unique and memorable customer experience while educating and notifying purchasing decisions.
• Retail vendors are increasingly spending on advertising, including brick-and-mortar and e-commerce vendors. This is expected to command a major share of the printed signage spending.

• The Asia Pacific region is witnessing innovations for broadening the selection of signage printers with an advanced and sophisticated design for the entry-level market. For instance, in April 2021, Colorje announced the launch of SoniQ I, a new signage printer that expanded the company's signage printer lineup. The SoniQ I is a low-investment, high-value signage printer that offers flexible printing at high speeds, allowing PSPs to maximize their business potential. It provides print quality at a speed of 1,232 sq ft/hr. Also, SoniQ I is ideally used for indoor and outdoor applications, designed, developed, and manufactured in India to meet global standards and certifications. ​
• Also, advertising is creating various growth opportunities in the region. According to the Malaysia Advertisers Association, out-of-home (OOH) advertising spending in Malaysia has been steadily increasing since 2012 and was expected to account for 19% of overall advertising spending in 2021. Moreover, various companies in Malaysia, such as M2 Signages SDN BHD, specialize in out-of-home advertising, billboards, signage, and print ads and serve as a one-stop shop for all advertising and marketing needs in the country. ​
• With the outbreak of COVID-19, the region vendors witnessed supply chain disruptions. For instance, in 2020, Caldron Graphics, an Indian provider of significant format inkjet printing technologies for signage and indoor graphics, faced supply disruptions. Many of the company machines are imported from China, and Since the lockdown, several machines have been trapped in the customs airport.​
• Government initiatives are also driving the printed signage market in various regions helping businesses to connect with their customers. For instance, in April 2022, The Brihanmumbai Municipal Corporation (BMC)made it mandatory for shops to use signage boards with regional languages to create an inflow of business opportunities for the signage industry in India. With the Media Expo's return after two years, the financial capital will be the ideal meeting point to identify innovative and cost-effective signage solutions.
• Various regional vendors are increasingly focusing on soft signage applications catering to advertisements. For instance, Softjet Grand, the 3.2 meters wide printer, is an industrial soft signage printer that combines digital advantages and has been efficiently optimized to replace PVC-based media. It also quickly prints on recyclable polyester-based fabrics and employs environmentally friendly aqueous inks. Softjet Grand is ideal for a wide range of soft signage applications, including banners, displays, wall decorations, signage, parasols, flags, backdrops, and outdoor advertisements.

The Printed Signage Market is highly competitive and consists of several major players. In terms of market share, few players currently dominate the market. With the rising demand for printing and technological advancement across the emerging economies, many companies are increasing their market presence, thereby expanding their business footprint across the new markets.

• April 2022 - 3A Composites has signed a contract to become a 25% shareholder of Swedish International AB through a direct capital increase while strengthening its product portfolio in the display business with Sweden's natural fiber board production facility. Headquartered in Katrineholm, Sweden, Swedboard International AB is an innovative company that manufactures and sells eco-friendly boards for the graphics display industry.
• April 2021 - ORAFOL Group acquired NUPRO Advanced TPU Films in South Deerfield, Massachusetts, United States. The partnership will allow ORAFOL and NUPRO to further grow their core businesses by expanding production operations and capabilities.
• February 2021 - Epson announced the release of two new signs printers, both of which have multi-purpose resin ink for a wide range of applications, as well as instant lamination and strong scratch resistance. These are designed to produce higher-quality prints with improved color reproduction and consistency, making them appropriate for a wide range of signs printing applications on various media.

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