ESOMAR-certified consulting firm Future Market Insights’ global signage market report projects a positive outlook for the market through 2031. Rising demand for incorporating sustainable digital solutions from the retail industry is primarily underpinning growth prospects. Furthermore, FMI projects the market to rise at a CAGR of nearly 6.4% through 2031.
According to FMI, rising demand for outdoor digital signage within commercial applications in the form of kiosk, billboards and signboards are propelling the growth of the market. Surging demand for displays with advanced technology and high performance for outdoor applications is rising the demand to develop digital signage suitable for harsh weather conditions. On the back of these factors, manufacturers are focusing on developing signages with various technological developments such as high attractive displays, different sizes and offering brightness that is suitable for outdoor locations. These highly developed digital signages are creating lucrative growth opportunities for signage manufacturers.
Furthermore, spike in digital advertisement industry and infrastructural development is providing a stimulus to develop directional and digital signage in countries such as UK, India and United States. Low cost yet high quality digital signages are gaining popularity among premium brands to attract customers and to maximize their brand awareness. Hence, accelerating the demand of signage market.
“Integration of Internet of Things and Artificial Intelligence with digital signages is promoting signage sales among the business organizations. Benefits such as automatic content creation, less human interaction and global positioning sensors in the signages are improving the demand of digital signages among end-users,” remarks the FMI analyst.
- Outdoor signage expected to account for 60% of global market share through 2021 & beyond
- In terms of end-users, stores are expected to contribute highest market share for signages
- China’s growing printing industry to augment printed signage sales
- Rapidly growing digital advertisement industry of United States and UK to fuel the demand for signage
- Outdoor digital signage to gain grounds in India on the back of high demand for directional signages on the constructed road
- Heavy demand for sustainable and green digital signages from manufacturers is expected to provide wide growth opportunities across Japan
- Suring technological advancement in displays and increased demand for 4K and 8K resolution displays are propelling the signage market demand
- Rising adoption of digital signage in commercial applications such as retail store, hospitality centers and others are fuelling the demand
- Increasing investment by leading retailers on online and broadcast advertisement is expected to hamper the growth of signage market
- Demand for developing sustainable and digital signage for harsh environment conditions in outdoor application is likely to create a challenge for the market players
Future Market Insights has listed some of the prominent market players for the global signage market which includes 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, Bensons Signs Limited, Lavastar Signs Ltd., National Signs Ltd., Signs Express Ltd., Dlinexsign Ltd., and One Digital Signage Ltd among others. FMI forecasts, the market is highly fragmented in nature. Top key players are focusing on providing sustainable green solutions to their customers. Also, the leading companies are adopting advanced technology to meet the rising demand for marketing solution in emerging economies.
For instance, on April 28th 2021, Scala, a Stratacache company with smart marketing technology and digital signage, announced the launch of its latest flagship digital signage platform, Scala Enterprise version 12.50. The latest released feature has enhanced workgroup management, additions to the LINUX player engine and support for Scala Media Player DX and Q players and also some performance improvements.
Also, on March 29th 2021, Carousel Digital Signage and mobile device company Moki announced their collaboration that will simplify the deployment and management of media player software across various operating systems. Additionally, the same month, Carousel announced the availability of a new cloud-based software media player designed for remote workers and students, which also helps organizations to extend their digital signage beyond location based end-points.
Furthermore, in April 2020, Xtreme Media announced the launch of its latest XM Aegis- digital signage with dispenser facility in the wake of new market requirements due to the COVID-19.
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More Insights on FMI’s Signage Market
Future Market Insights, in its new offering, provides an unbiased analysis of the signage Market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the signage market with a detailed segmentation on the basis of product type (in-store signage, and outdoor signage), end-user (supermarkets & hypermarkets, stores, schools & offices, industrial sectors, entertainment and others) and across major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).