The global bulletin boards market is predicted to register a growing substantially double-digit CAGR of 5.3% by garnering a market value of US$ 523 Million.
Bulletin boards which generally use to display information to wider audience, is considered as an essential product for school/colleges, corporate offices and in sports events. The growing usage and demand for bulletin boards in school/colleges, corporate offices and in sports events are the primary factors driving the global bulletin boards market.
The growing demand for bulletin boards is not limited to educational institutes, it also has uses in sports events, corporates etc. The advancement of technology is helping manufacturers to come up with innovative bulletin boards in the market. Growth in number of school, colleges, offices, sports events have identified as the key parameter for growth of bulletin boards marker across the globe.
Bulletin boards consist of a writing surface and pin board and can be made of several materials such as plastic, wood etc. With the education system being an integral part of public sector, growth of school, colleges are high. Government’s more spending on education system has fueled the growth of accessories market related to education.
Moreover, government expenditure on education will also accelerate the education sector which in result, will encourage the sales of bulletin boards across the world
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Bulletin Boards Market: Market Dynamics
The growth of bulletin boards is primarily dependent on the growth of education sector as school, colleges and universities are the primary market for bulletin boards. Bulletin boards market is considered to be higher in developed economies such as North America and Europe owing to higher government expenditure in developed countries such as USA, Canada, Germany, France, UK etc.
Moreover, manufacturers offering of new features such as ecofriendly bulletin board will also drive the global bulletin boards market. The on-going trend of ecofriendly or recycled product manufacturing also pushed the manufacturer for ecofriendly bulletin boards. However, growing usage of technologies can restrict the growth of bulletin boards market, especially in developed countries.
There are several rural places in India where school or colleges still do not use bulletin boards. This has becomes an opportunity for manufacturers to target those untapped market. Market players need to strategize their marketing activity in developing regions. Moreover, their marketing strategies are estimated to play a vital role in attracting large customer base of developing countries.
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Bulletin Boards Market: Regional Outlook
The bulletin boards are gaining traction owing to high demand in school, colleges, and universities and in corporate offices. The need for bulletin boards are primarily derived from developed countries such as North America and Europe owing to increasing number of education centers across the region.
Moreover, increased government spending on education is expected to drive the education center further which in result, propels the sales of bulletin boards across the region. Germany, France, United Kingdom have higher educational expenditure compared to developed regions. East Asia and South Asia is expected to grow at a significant pace during the forecast owing to increasing educational centers across the region.
China, & Japan are considered as the key market which is expected to drive the East Asia bulletin boards market. India remains the key contributor in South Asian countries. India’s education sector development in recent past and growing economy also help the market to grow substantially.
Oceania is expected to boost the bulletin boards market owing to higher demand in Scholl & colleges. Latin America is also expected to gain a significant market share due to high education expenditure in Brazil & Argentina. Middle East and Africa (MEA) is expected to grow slower than other regions due to lower expenditures on education however growing education tourism in Dubai and UAE has attracted several investments which is expected to accelerate the bulletin boards market.
Bulletin Boards Market: Key Players
The global bulletin boards market represents a fairly consolidated competition landscape, where a majority of key players maintain their strategic focus on innovation and new product development. Some of the key players in bulletin boards market are Mead, Astervision, Iceberg, Elmers, Quartet, Ghent, Ubrands, , Etsy Inc., and others.
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Bulletin Boards Market: Market Segmentation
The bulletin boards market is segmented into different categories based on the product type, nature, price, application, sales channel and region.
Based on product type, the bulletin boards market is segmented into:
- 1 Bulletin Board
- 2 Bulletin Board
- 3 Bulletin Board
Based on nature, the bulletin boards market is segmented into:
- Eco-friendly Bulletin Boards
- Regular Bulletin Boards
Based on material, the bulletin boards market is segmented into:
- Plastic
- Wood
- Vinyl
- Others
Based on price, the bulletin boards market is segmented into:
- High
- Mid-Range
- Economy
Based on application, the bulletin boards market is segmented into:
- Individual
- Professional/ Commercial
- School, College, Universities
- Corporate Offices
- Sports Events
- Others
Based on sales channel, the Bulletin Boards market is segmented into:
- Direct Sales
- Supermarkets/Hypermarkets
- Specialty Outlets
- Independent Small Stores
- E-Retailers
- Other Sales Channel
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