The Sign Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Sign Global Market Report 2024, The sign market size has grown strongly in recent years. It will grow from $126.28 billion in 2023 to $134.71 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to urbanization, retail expansion, tourism and hospitality industry growth, event and exhibition industry, transportation infrastructure development.
The sign market size is expected to see strong growth in the next few years. It will grow to $170.1 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to smart cities initiatives, environmental sustainability, customization and personalization, e-commerce and online presence, health and safety signage, global events and exhibitions. Major trends in the forecast period include digital signage growth, led technology dominance, augmented reality (ar) in signage, wayfinding and navigation signs, interactive touchscreen signs.
The increasing economic growth is expected to propel the growth of the sign market going forward. Economic growth refers to the sustained increase in a country’s production of goods and services, typically measured by an increase in its gross domestic product (GDP) over time. The overall state of the economy plays a significant role in the sign market. During periods of economic growth, businesses are more likely to invest in signage for branding, advertising, and expansion. For instance, in June 2023, the Organization for Economic Co-operation and Development, a France-based international, intergovernmental economic organization, reported that UK gross domestic product growth is expected to be modest at 0.3% in 2023 and to improve moderately to 1.0% in 2024. Therefore, increasing economic growth is driving the growth of the sign market.
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The sign market covered in this report is segmented –
1) By Type: Traditional Billboards And Signs, Digital Billboards And Signs, Other Sign
2) By Application: Indoor, Outdoor
3) By End-user Vertical: BFSI, Retail, Transportation and Logistics, Healthcare, Other End-user Verticals
Major companies in the sign market are developing innovative out-of-home advertising to gain a competitive edge in the industry. A 3D out-of-home billboard is a three-dimensional advertising display placed in outdoor locations to create eye-catching, immersive visual experiences for passersby. For instance, in December 2022, Bata India, an India-based footwear company, launched the 3D OOH Billboard. The billboard employs an anamorphic image content creation format, which causes content to appear in three dimensions. With Sneaker Studios, which has been established across 300+ stores around the country, the footwear brand has used this unique technology to highlight the range of sneakers it offers. In Bengaluru, the first of its sort has been established. This hyper-realistic billboard is a visual treat for potential customers and grabs their attention right away.
The sign market report table of contents includes:
1. Executive Summary
2.Sign Market Characteristics
3.Sign Market Trends And Strategies
4. Sign Market analysis
5.Sign Market Size And Growth
6.Sign Segmentation
7.Sign Regional And Country Analysis
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27.Sign Competitive Landscape And Company Profiles
28.Sign Key Mergers And Acquisitions
29.Sign Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Samsung Electronics Co. Ltd.
- Panasonic Corporation
- LG Display Co. Ltd.
- NEC Display Solutions Ltd.
- Sharp Corporation
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