Signage Market: Making a Lasting Impression
Signage is an essential component of any marketing strategy, offering a visual representation of a company’s brand, products, and services. The Signage Market encompasses a wide range of signage solutions that cater to diverse business needs. From eye-catching outdoor billboards to captivating indoor displays, the Signage Market offers businesses endless possibilities to engage with their target audience.
The Importance of Effective Signage
In a crowded marketplace, capturing the attention of potential customers can be challenging. This is where effective signage comes into play. Well-designed and strategically placed signage can make a significant impact on a company’s brand visibility and customer engagement. Here are a few reasons why signage is crucial for businesses:
1. Enhancing Brand Awareness
Signage acts as a silent salesperson, working 24/7 to create brand recognition and recall. By incorporating consistent branding elements such as logos, colors, and fonts, businesses can reinforce their brand identity and increase brand awareness among their target audience.
2. Driving Foot Traffic
Strategically placed signage can be a powerful driver of foot traffic for brick-and-mortar businesses. Eye-catching signs with compelling messages and clear directions can attract passersby and encourage them to step into a store or visit a business establishment.
3. Conveying Important Information
Signage is an effective medium for conveying important information to customers. Whether it’s displaying store hours, promoting special offers, or providing directions, well-designed signage ensures that customers have the necessary information readily available.
4. Increasing Sales and Revenue
An attractive and well-placed sign can have a direct impact on sales and revenue. Studies have shown that businesses with effective signage experience higher sales and greater customer engagement compared to those without.
According to market projections, the signage market is expected to experience a compound annual growth rate (CAGR) of 6.3% from 2022 to 2031, with a forecasted value of US$ 63.3 billion by 2031.
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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?
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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