According to Future Market Insights (FMI), the global signage market is projected to grow at a compound annual growth rate (CAGR) of 6.3% between 2022 and 2031, reaching a value of US$63.3 billion by 2031.
The retail industry is undergoing significant changes and adopting new strategies, which directly impact the demand for signage. The highly fragmented market and increasing competition from e-commerce businesses have led to changes in the traditional retail sector. This creates attractive opportunities for the expansion of the signage market from 2021 to 2031, as identified by FMI.
Signage plays a crucial role in the retail sector by attracting customers and increasing brand awareness. It can come in various sizes and forms, depending on the location and the business’s objectives. Effective signage design is essential in driving sales and leaving a lasting impression on customers. It communicates the products, services, and expectations customers can have from a brand.
Request a sample to obtain authentic analysis and comprehensive market insights at- https://www.futuremarketinsights.com/reports/sample/rep-gb-13113
For example, McDonald’s places great emphasis on signage presentation at all of its locations to enhance its brand value in the minds of customers. The company ensures that signage is installed to reinforce branding at each new location.
There is also a significant focus on outdoor signage as businesses aim to reach a wider audience. According to FMI, outdoor signage is expected to account for over 60% of sales in the market in terms of available products. Additionally, the rising demand from supermarkets and hypermarkets will continue to support the growth of the signage market.
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
Ask an Analyst – https://www.futuremarketinsights.com/ask-question/rep-gb-13113
“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.
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.
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 prominent players in the signage market. The signage market is highly fragmented and the Tier 1 players in the market hold 15–20% share in the global signage market.
Request for TOC – https://www.futuremarketinsights.com/toc/rep-gb-13113
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
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
About Us:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com
