The global out-of-door signage market is projected to reach a market value of US$ 26.86 billion in 2023 and to reach a valuation of US$ 58 billion by 2033, with a CAGR of 8%. In the historical period from 2018 to 2022, the market for outdoor signs increased at a CAGR of 5.9%.
One of the most popular types of signage utilised worldwide is outdoor signage. Through billboards and other backlit displays, among others, it is largely used to advertise products to draw people and increase their understanding of the availability and features.
During the last decade, the use of out-door signage has been increasing exponentially as it enriches the efficiency of marketing and advertisement. Out-door signage is a popular tool for promoting and branding a specific product, any kind of offer, discounts or to convey any message in shopping malls, hypermarkets, departmental stores etc.
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Furthermore, out-door signage is used for numerous applications such as graphic displays and special advertisements regarding sale, discount offers outside the store. Overall, the growth of out-door signage is expected to be positive during the forecast period.
Competitive Landscape
A few of the players actively participating in the out-door signage market consist of
- Mojoprint Ltd.
- DAIKAN CO., LTD.
- Sanyo Koubo Co., Ltd.
- Accord Exhibit
- Galaxy Signage
- Balticsigns
- Modulex
- Entech Signs & Displays
- Esmer Reklam, etc.
What Drives the Growth of the Out-door Signage Market?
One of the major factors which drive the growth of out-door signage is it is impressive and cost-effective. Advertising is not only about to reach the customers but also change the mind of them. Out-door signage gives the high impression to advertise something as well as it is cost-effective for those who cannot afford such high-cost signage.
For hypermarkets and the automotive industry, out-door signage plays an effective role in generating advertising and sales. Out-door marketing helps the customer in establishing a rich brand identity. Furthermore, these factors are boosting the demand for out-door signage in the market.
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How the Retail Sector will Create Opportunity for the Out-door Signage Market?
Out-door signage has become an influential communication channel that allows the retail sector to reach customers effectively and quickly. The interaction between the company and its customer has done with interactive content informing about discount offers, sale of new product launch.
Therefore, attracting customers in the retail sector is creating an opportunity for out-door signage market to attract customers and boost the sales of the target market.
What are the Key Trends Impacting Growth of the Out-door Signage Market?
Due to the rise in e-commerce, customer can order any product at anytime and anywhere while seeing any kind of advertisement in out-door signage. Out-door signage has become a technological intermediary between the physical location of the customer and online merchant. Therefore, the remarkable growth in online shopping will bolster the sales for the out-door signage market.
How will Out-door Signage Market Generate Significant Demand in China?
Due to the rising scope of product application in hypermarkets, the automobile industry, hotels and hospitals the significant growth is anticipated in China. As many enterprises are leveraging the opportunity to promote their products or offering through large displays, which helps them to attract the target customers.
With the rising number of infrastructure, roads, malls, multiplex and many more the adoption of out-door signage has increased in China and is expected to grow over the forecast period.
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Market Segmentation of the Out-door Signage Market
By Product Type:
- Headers & merchandisers
- Product displays
- Others
By Material Type:
- Plastic
- Metal
- Wood
By End-use:
- Retail and Corporate
- Hospitality and Entertainment
- Construction
- Institutional
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa
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