Printed signage refers to visual communication boards made using various printing technologies like screen, digital, and lithographic printing. Printed signage finds extensive applications in retail stores, malls, commercial spaces, event venues, and public places for visual communication purposes. Printed signage provides an effective solution for business establishments to increase brand visibility, promotions, and wayfinding. The digitally printed signage offers superior resolution, finer graphics, vibrant colors, and faster turnaround time compared to traditional signage. Moreover, printed signage is low-cost, durable, reusable, and requires less maintenance.
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 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The increasing footfall in retail stores, malls, and other commercial establishments provides ample opportunities for signage providers. Printed signage plays a significant role in marketing campaigns, brand awareness, and guiding customers. Moreover, the growing adoption of printed signage as a visual communication tool by event planners and venue owners offers lucrative expansion opportunities. Printed signage manufacturers are coming up with innovative design and customization options to cater to the dynamic communication needs of corporates and marketers. The rising demand for eye-catching printed signage from growing industries like retail, entertainment, and real estate is estimated to drive the market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: Low-cost barriers and resources required hinder new companies from easily entering the printed signage market. Existing players have established relationships and production experience.
Bargaining power of buyers: Buyers have moderate power as they can negotiate on pricing and demand customized signage solutions. They also have options to consider digital signage as an alternative.
Bargaining power of suppliers: Suppliers including material providers and printers have moderate bargaining power since switching costs are low and raw materials are commodity items available from numerous local sources.
Threat of new substitutes: Digital signage poses a threat though printed signage has advantages for certain outdoor and indoor applications that require durability and versatility.
Competitive rivalry: Intense as major players compete on offerings, innovation, and global presence.
SWOT Analysis
Strengths: Established production infrastructure and expertise. Ability to provide customized solutions.
Weaknesses: Heavy reliance on conventional printing technologies. Vulnerable to macroeconomic downturns impacting certain industries.
Opportunities: Expanding into emerging regions. Leveraging advances in printing materials and techniques. Growing demand for outdoor advertising and wayfinding applications.
Threats: Rising environmental regulations regarding print materials. Commoditization of simple signage drives down margins.
Key Takeaways
The Printed Signage Market Share is expected to witness high growth. 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 5.2% over the forecast period 2023 to 2030.
Regional analysis indicates North America will retain largest market share supported by continuous spending on retail and corporate branding. Asia Pacific is estimated to see strongest gains as economies modernize rapidly with corresponding rise in commercial and residential construction.
Key players operating in the market are Zoetis, Merck & Co., Inc., Boehringer Ingelheim International GmbH, Bayer AG, Elanco, Cev. Zoetis is a global leader with wide geographic footprint and product range. Merck & Co., Inc. focuses on pharmaceuticals and vaccines.
For more insights, read- https://www.ukwebwire.com/printed-signage-market-trends-size-and-share-analysis/
