Research report shows global printed signage market to reach $US43.7 billion by 2024
According to Smithers Pira’s latest report titled ‘The Future of Printed Signage in an Electronic World to 2024’ the global printed signage market is forecast to reach $US43.7 billion by 2024, with a total of 10.8 billion sq m of signage and POP media printed. The report shows the printed signage market has marginally declined by 0.3 percent year-on-year since 2014. However, it is now forecast to recover value over the next five years when growth of 0.2 percent CAGR (compound annual growth rate), reaching a value of $43.73 billion in 2024. The report identifies a number of key trends that affect the global printed signage market. Promotional and informational printed signage demand will be impacted by changes in global and local economic performance. Another trend is signage in retail environments in which changes in the structure and strategies of the retail industry will have a direct effect on market demand for printed signage. On technology front, all aspects of printing technologies continue to evolve and improve printing processes. With inkjet taking the largest share of printed area within the signage industry, this process is the focus of the majority of development activity, particularly for wide-format printers.