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Economic Growth Drives Sign Market Expansion to $170.1B by 2028 at 6.0% CAGR - TBRC Report
Sign Market Report
As per the report, 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 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%.
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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.
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.
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
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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.
Contents of the report:
1. Executive Summary
2. Sign Market Report Structure
3. Sign Market Trends And Strategies
4. Sign Market - Macro Economic Scenario
5. Sign Market Size And Growth
…..
27. Sign Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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