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.
Businesses can choose from a number of signs in the expanding signage sector to help them promote their brands and products. Both interior and outdoor signs, including billboards, digital displays, posters, banners, and flags, are included in the signage market. These signs are intended to attract attention and effectively convey a message.
The structural adjustments and improved tactics the retail sector is putting into place will have a direct influence on the requirement for signs. The traditional retail industry has changed as a result of the market’s growing fragmentation and the competition from internet merchants. According to a Future Market Insights (FMI) analysis, this will offer enticing possibilities for the expansion of the signage business between 2021 and 2031.
Depending on the installation site and business goals, retail shop signs can take on a variety of shapes and sizes, but they all serve the same objective: to draw in customers and raise brand awareness. The company’s signage must appear excellent in order to boost sales. People’s early impressions of a brand are frequently influenced by the style of its signage. A superb sign makes it very apparent what the business offers in terms of goods and services as well as what the customer can anticipate from the organisation.
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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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Latest Trends in the Signage Market-
The signage market is constantly evolving, with new trends emerging every year. Here are some of the latest trends in the signage market:
1. Digital Signage
Digital signage is becoming increasingly popular in the signage market. These signs use digital displays to communicate messages and can be updated in real-time. Digital signage is particularly effective in high-traffic areas, such as airports, malls, and sports arenas.
2. Interactive Signage
Interactive signage allows customers to engage with a brand through touch screens and other interactive displays. These signs are particularly effective in retail settings, where they can be used to provide product information and promotions.
3. Sustainable Signage
Sustainable signage is becoming more popular as businesses look for ways to reduce their environmental impact. These signs are made from eco-friendly materials and are designed to be recycled at the end of their lifespan.
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?
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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