Driven by Ease of Deployment, and Longer Lifespan, the Global Printed Signage Market is Forecasted to Cross ~ Bn by 2028 says Ken Research Study.
Printed signage is a widely used form of signage solution across the globe in various end-use facilities. It is used to advertise products to attract customers and expand their knowledge about the products through billboards, backlit displays, etc. Printed Signage is being used by several companies and organizations for daily operations, like advertising and marketing, commonly across retail locations, lobbies, tradeshows, showrooms, event venues, and points of purchase.
According to Ken Research estimates, the Global Printed Signage Market –is estimated to be US Bn in 2022 – is expected to grow further into a more than US Bn opportunity by 2028- “Ken Research shares 5 key insights on this high opportunity market from its latest research study”.
Printed Signage Market Has Seen Steady Growth owing to an increase in investment and collaboration
The Global Printed Signage Market is forecasted to continue the steady growth that is witnessed since 2017, primarily driven by the ease of usage and deployment of printed signages without any additional operational and maintenance costs. Printed signage also boasts a longer lifespan than any other form of signage solution. In January 2022, Lintec Corporation acquired Morgan Adhesives Company, LLC headquarters in the USA and entered into a business agreement with Spinnaker Holding Inc., and its wholly-owned subsidiary Spinnaker Coating, LLC. Such organic and inorganic developments within the companies are expected to boost the production and sales of printed signages after a mixed effect of the COVID-19 pandemic disruptions.
In April 2022, 3A Composites signed a contract to become a 25% shareholder of Swedish International AB via direct capital, strengthening its product portfolio with Sweden’s natural fiber board production facility.
Lower Deployment Costs and Increase Usage of Printed Signage is Major Growth Drivers for the Global Printed Signage market.
Cost-effectiveness is the primary factor that drives the growth of the printed signage market, as it offers low-cost and efficient signage solutions for many industries. The lower cost required for deploying printed signage as it requires papers, billboards, and printing machines as compared to digital signage which requires a higher investment cost inclusive of the signage software cost. The increasing usage of printed signage across shopping malls and retail stores is likely to drive the printed signage market.
The low cost of printed signage also becomes equally essential for small vendors and brands that are not able to effectively advertise their products or communicate with their audience. This is further expected to create a balance between the usage of printed signage and adoption of digital signage in the current world scenario.
According to Advertising Association/WARC Expenditure Report, UK advertisement 2022 spending rose 28.3% in the first three months of 2022, reaching a total of approx. USD 8 Bn, resulting in improved results for the year ahead. The country is experiencing a soft landing from the turmoil of covid-19 translating into a strong start.
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Digital Signage offering a Greater Return on Investment is the Most Significant Barrier to Widespread Printed Signage.
Digital signage provides a greater long-term return on investment. The print signage industry is facing issues with the impact of electronic media and other technological changes. Furthermore, digital signage gives more versatility because it can display various information without needing to be replaced entirely, hence restraining the market growth of printed signages.
The printed signage has a major impact on the environment as more than 40% of trees are harvested by timber companies to make paper. Most printing inks use petroleum-based ingredients having high concentrations of volatile organic compounds. The paper treatment process uses bleaching agents to give standard printer paper its white color.
As per MVIX, a provider of enterprise digital signage solutions, strategically placed digital signage and strategically scheduled messages can increase impulse purchases for stores, restaurants, amusement parks, hotels, and more. 19% of in-store buyers make impulse purchases because of digital signage.
As per Pickcel company, digital signage in the retail industry is already making up 25% of the overall sales for the brand. According to a study by Zenith Media, the share of digital channels in global adspend is increasing steadily at the expense of traditional channels.
Inkjet Segment holds the Largest Market Share, Owing to Its Ability to Offer Attractive Design
Among the print technology segments, the Inkjet segment is likely to hold the largest market share owing to its ability to offer attractive design during the forecast period 2022-2028. For signs, banners, displays, and home decor, inkjet technology offers appealing design advantages, including the capacity to print on a wide range of substrates, including vinyl, paper, and polyester.
However, the Sheetfed segment is expected to witness significant growth during the forecasted period, owing increase in investment by vendors on a sheetfed press. In Aug 2021, Yintong Corporation signed up for the purchase of 56 multicolor RMGT 920 series sheetfed presses at China Print to be delivered and installed over the next three years. The deal for all these 56 presses was signed at China Print 2021 by Yintong with RMGT’s Chinese distributor, Beijing Jia He Ding Xin Technology & Business known as Dinga.
The Asia Pacific is the Largest Market of Printed Signage owing to the Increase in Innovation of Signage Printers, and the Adoption of Advanced Technologies.
The Asia Pacific is expected to dominate the global printed signage market owing to the increase in the innovation of signage printers with advanced technology and sophisticated designs. Furthermore, higher penetration of retail sectors with investment in advertisement and marketing is the key factor for higher sales of printed signage in the region.
For instance, the launch of new products owing to continuous innovation is likely to drive market growth. 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.
In addition, according to the Malaysian Advertisement Association, out-of-home (OOH) spending is continuously rising and is expected to account for 19% of all advertising spending in 2021. Moreover, various companies in Malaysia, such as M2 Siganges SDN BHD, specialize in out-of-home advertising, billboards, signage, and print ads serving as a shop for all advertising and marketing needs in the country.
For more information on the research report, refer to the below link:
Major Companies in Printed Signage
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Ankur Gupta, Head Marketing & Communications