United States Printed Signage Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

United States Printed Signage Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The United States Printed Signage Market was valued at USD 10.59 billion in 2020 and is estimated to grow to USD 10.84 billion by 2026, at a CAGR of about 0.4% over the forecast period 2021 to 2026. The lower investment required for the deployment of printed signage, along with the longer lifespan is helping the printed signage market survive, with intense competition from the emerging digital signage.

Key Highlights

• The retail sector is the largest consumer of printed signage as compared to other industries. Leveraging the new printing technologies and inkjet printing have enabled high-definition and have attractive printed signage to be offered at lower costs.
• Also, with the increased competition between retail environments owing to online shopping is creating a corresponding demand for short-term promotional signage and point-of-purchase graphics to engage customers and generate new purchases, like with seasonal product lines. These factors are further expected to add to the demand for the printed signage market in the region.
• However, the growing adoption of digital signage technologies and the reduced costs of the systems offer flexible signage operations to consumers at reasonable prices. Also, the nature of dynamic content and customization options, provided by digital signage, are fueling this rate of adoption, which is restraining the growth of the printed signage market.
• Also, the advertisements of media firms in magazines, outdoor facilities, and newspapers are decreasing on a large scale. However, with the increase in spending on cinema advertising and outdoor advertising, the market for printed signage is expected to witness a stable decline during the forecast period.
• Further, added with the region being a forerunner in technology, coupled with the inclination toward dynamically feasible substitute such as digital signage, and the growing demand for a more customized approach to advertising, the printed signage market is witnessing a decline. According to the Outdoor Advertising Association of America, in 2019, there are 8.8 thousand digital billboards in the United States.
• Additionally, amidst the global pandemic, COVID-19 added with the rise in the number of cases reaching the peak number 1,593,039 as of 21 May 2020 is expected to cause significant disruption to the supply chain of the raw material further hinders the growth of the market.

Key Market TrendsPrinted Billboards are Expected to Witness Downfall

• Billboard advertising is considered to one of the most popular types of outdoor advertising owing to its sheer size and impact as there are typically deployed in high traffic areas such as expressways, highways wherein advertisers spend vast amounts of investments to grab the attention of consumers. The United States takes full advantage of the billboard advertising as an average American spends more than 70% of their day outside their homes, and every week 96% of those are exposed to advertisements while driving a vehicle.
• Also, the spending on advertisements in the United States is expected to reach close to USD 200 billion, making it the second to the largest contributor to the advertising industry, which is in China. However, with the growth of digital advertising in the country, the market for printed signage is steadily declining. Also, according to the OAA, the United States has started to adopt digital billboards from the year 2016, and it is estimated to have over 9,600 digital billboards installed across the country by the end of the year 2020.
• Further, Digital signage also gives flexibility to retailers, thereby enhancing customer engagement with the brand. Digital Signage also captures more views as compared to printed signage. The ability to change the content and schedule/arrange advertisements based upon the client’s requirement are the factors leading to the slowdown of the market studied.
• Additionally, Businesses are focused on spending on mobile advertising as customer engagement is maximum. Brands are inclined toward advertising their products online, and thereby increasing their online spendings. For instance, Adidas is expected to increase its online business from EUR 1 billion in 2016 to EUR 4 billion in 2020, through digital marketing, and the aforementioned factors are restraining the market’s growth.

BFSI Sector to Witness Downfall

• In the BFSI sector, printed signage is usually used in various places, including ATM (banner signs, posters, etc.), interior, wall graphics, and wall projection. The banking industry in the United States is growing at a significant rate propelling the number of ATMs, owing to its rising population and need for the cash dispensing machines.
• Additionally, the country has a larger number of tourist populations, which raises the need for cash transactions, thereby propelling the demand for ATM in the region. The sector is increasingly using signage solutions to enhance the in-branch customer experience. The strategically located displays can inform customers of new services, reduce wait time, and improve the bank's overall perception.
• However, owing to the high penetration rate of digital signage to its added convenience, low-cost material, and high reach, which is likely to negatively affect the market growth in this industry over the forecast period. Indoor digital signage draws over 400% of more views than static displays and increases engagement, as per the Embed Signage ( an Information Technology and Services company).

Competitive Landscape

The United States printed signage market is witnessing lower competitiveness due to a declining market. Few of the major players currently dominate the market share while other vendors are leveraging their growth by launching sustainable products. The companies are leveraging their strategic collaborative initiatives to increase their market share and profitability.

• March 2020: Neenah Inc, announced the launch of highly sustainable signage product called Neenah ImageMax Signage, It is a 100% paper-based and 100% blue bin recyclable wide format product designed for applications including retail' point of purchase & point of sales signs, hanging signage, shelf-talkers, and directional signage. Further, the company claims that ImageMax would be able to accept a wide verity of design and printing techniques that styrene cannot.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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