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 2031.
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. They are focusing on developing innovative printing materials and technologies to expand into new domains.
The demand for Printed Signage Market Size is growing rapidly as it plays a vital role in branding and marketing activities of businesses. It helps bring awareness about new launches, offers, locations and services. Increased spending on outdoor advertising and events is boosting the sales of banners, posters and billboards.
Major players are expanding their production and distribution networks globally to cater to the growing need for printed signage in developing markets. The easing of trade policies and emergence of multinational corporations from Asia and Latin America has opened new revenue streams for manufacturers.
Market Drivers
The rapid digitization and infrastructure development across industries are major drivers for the printed signage market. Changing consumer behavior and preferences are prompting establishments to enhance branding efforts using vibrant and engaging signage. Furthermore, growing construction of malls, commercial buildings and public utility spaces generates consistent demand for directional and instructional printed boards. The wide format and durable nature of printed signs make them suitable for both indoor and outdoor installation.
Current geopolitical situations are expected to impact the growth of the printed signage market globally in the coming years. With rising tensions between nations and increased security requirements at borders, travel and transportation across borders has become complicated. This can negatively impact the signage market that caters to airports, railway stations and other transport hubs across the world. Additionally, economic sanctions and trade restrictions between some countries may disrupt supply chains of raw materials and signage products across borders. This can constrain the availability of materials for printed signage manufacturers. However, heightened security measures also mean increased need for signage and directional materials within transport hubs and public places to guide people. There is also a focus on branding of countries to attract tourists that can boost demand for national signage and promotional materials. Overall, market players should closely monitor changing geopolitical situations and trade policies to diversify their supply networks and expand to new growing markets to minimize risks. Localization of production and partnering with regional players can help sustain business amid uncertainties.
In terms of regions, North America currently accounts for the largest share of the global printed signage market in terms of value. This can be attributed to well-established signage industry in countries like the US and presence of leading manufacturers. However, the Asia Pacific region is expected to witness the fastest growth during the forecast period led by countries like China, India and other Association of Southeast Asian Nations (ASEAN) countries. Rapid infrastructure development, urbanization, industrialization and rising tourism are driving the demand for signage from various end-use sectors in Asia Pacific. Countries are investing heavily in transport infrastructure like rail, road and airports where signage plays a crucial role. Additionally, global events such as FIFA World Cup 2022 in Qatar are driving the need for directional and promotional signage in the Middle East region as well.
Get more insights on Printed Signage Market