Global Sign Market 2024 : Trends, Business Growth And Major Driving Factors | Samsung Electronics Co. Ltd., Panasonic Corporation, LG Display Co. Ltd., NEC Display Solutions Ltd.

"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.

Market Overview -
Sign refers to a piece of paper, wood, or another material with writing or a picture on it that provides information, instructions, or a warning, usually a combination of rich wood grain and textured canvas. The sign manufacturing industry comprises establishments that produce signs and related displays of all materials (except printing paper and paperboard signs, notices, and displays).

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Economic Growth As A Fuel For Sign Market Expansion
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.

Competitive Landscape -
Major companies operating in the sign market report are Samsung Electronics Co. Ltd., Panasonic Corporation, LG Display Co. Ltd., NEC Display Solutions Ltd., Sharp Corporation, Print Sauce LLC, Sabre Digital Creative Inc., Planar Systems Inc., Brady Corporation, Canva Group Ltd., Daktronics Inc., Accel Group Inc., Okamura Corporation, Prairie State Products Inc., Identity Holdings Inc., Visual Graphic Systems Inc., Marahrens Group of Companies, Mirazed Inc., SmartSign Systems, Rgla Solutions Inc., Sign Solutions USA Inc., Indianapolis Badge & Nameplate Co., First Sign Corporation, Madam Metalworks Inc., Sign Artist Inc., Shingokizai Co. Ltd., United Signs LLC, Houston Custom Metal Works Inc., Speed Fabrication Inc., James Printing & Signs Inc.

Innovative Out-Of-Home Advertising The Emergence Of 3D Billboards In The Sign Market
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.

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Key Segments -
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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