The global signage market is slated to witness a CAGR of 6.3% between 2022 and 2031, reaching US$ 63.3 Billion by the year 2031.
The Signage Market has witnessed remarkable growth in recent years, fueled by the increasing demand for effective advertising and brand promotion. Businesses across various sectors, including retail, hospitality, healthcare, and transportation, are recognizing the significance of well-designed signages. With advancements in technology and a growing emphasis on customer engagement, the Signage Market is expected to expand even further in the coming years.
Signage has come a long way from the traditional static signs that were once prevalent. The Signage Market is experiencing a paradigm shift, thanks to advancements in technology and the increasing demand for more engaging and interactive displays. Modern signage solutions are designed to captivate and inform audiences, providing businesses with a powerful tool to communicate their message effectively.
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Who is Winning?
- FASTSIGNS International. Inc.,
- Signarama,
- Walton Signage Corporation,
- R.R. Donnelley & Sons Company,
- Impact Signs Inc.,
- Back Bay Sign Company,
- Pearce Signs Group,
- Sovereign Signs (Strata Holdings Limited),
- HNS Signs Ltd,
- Allsigns International Ltd,
- Harrisons Signs Limited,
- Benson Signs Ltd.,
- Lavastar Signs Ltd,
- National Signs Ltd,
- Signs Express Ltd,
- Dlinexsign Ltd and
- One Digital Signage Ltd.
are well-known companies in the signage industry. The global signage market is highly fragmented, and the Tier 1 businesses currently account for 15-20% of it.
For instance, McDonald’s attention on signage presentation at each of their locations helps to increase the value of their brand in customers’ minds. At every new location, the company makes sure to put up signage to support branding.
As companies look to reach a wider audience, outdoor signage is also receiving a lot of attention. According to FMI, outdoor signage will represent more than 60% of market sales in terms of the items offered. Growth will nevertheless be supported by the increased demand from supermarkets and hypermarkets.
Key Takeaways of Signage Market Study
- Rising at 6.4% CAGR between 2021 and 2031, signage market will grow in response to expansion of the retail sector
- Presence of a high number of supermarkets and hypermarket makes the U.S. dominant. It is expected to account for over 85% of sales in North America
- Focus on outdoor digital advertising will drive the U.K. market at 2% y-o-y growth in 2021
- Expansion of the retail sector will position India as a key market for signage sales within South Asia
- China’s bustling retail sector will catapult it as a chief signage market within East Asia
“Marketers are keenly focusing on investing on advertisement to grab customers’ attention which is a challenging task. Digital signage have the potential to overcome the challenges associated with conventional advertising. A major trend observed recently is replacement of conventional signage with digital signage at multiple locations.” says an FMI analyst.
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Trends Shaping the Signage Market
The Signage Market is constantly evolving, driven by technological advancements and changing consumer expectations. Let’s take a look at some of the key trends shaping the industry:
1. Rise of Augmented Reality (AR) Signage
Augmented Reality (AR) is transforming the way businesses interact with their customers. AR signage overlays digital information onto the real world, creating immersive and engaging experiences. This technology has found applications in various industries, including retail, hospitality, and entertainment.
2. Integration of Artificial Intelligence (AI)
Artificial Intelligence (AI) is revolutionizing the Signage Market by enabling personalized and context-aware content delivery. AI-powered signage systems can analyze data, understand customer preferences, and deliver tailored messages accordingly. This level of customization enhances the overall customer experience and drives better results for businesses.
Cost Effectiveness of Signage Creating Lucrative Opportunity-
Companies need to assure that their marketing investment is being used wisely and no business would be interested in wasting the money on a signage that would not help in increasing the footfall. Businesses need to clearly know the intent of what they want to achieve by signage advertising.
A signage helps the businesses to grow in the long term when compared to other marketing efforts, for instance, an ad in the newspaper. This serves or caters to achieve the short term marketing goal of the business. However, signage can help the business build their brand. With the integration of technology, brands can use digital signage which can be changed with minimum efforts every time the business wants to revise its marketing strategy.
Signage are cost effective marketing solutions, even though the initial cost might be high it’s worth to invest in a quality product which can reap benefits for a longer duration by minimizing maintenance costs. Moreover, there is no specific time for the signage marketing to work as it reaches out to anyone who passes by the signage at any point of the day or night.
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Key Segments Covered In Signage Industry Research
Product Type:
- In-store Signage
- Promotional Signage
- Directional Signage
- Outdoor Signage
- Promotional Signage
- Directional Signage
End-use:
- Supermarkets & Hypermarkets
- Stores
- Schools & Offices
- Industrial Sectors
- Entertainment
- Others
Frequently Asked Questions (FAQs)
- What will be the growth of Signage Market in the coming years?
- Who are the key players in the Signage Market?
- What will be the size of Signage Market in the foreseeable future?
- Which end-use type is expected to register significant growth in the Signage Market?
- Which region accounted for the largest share in the Signage Market?
- Who are the target audience in the Signage Market?
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