Smithers shows significance of inkjet in $41bn global signage market
Smithers’ latest expert study titled ‘The Future of Printed Signage in a Digital World to 2028’ shows the print outputs for wide-format and other signage applications are recovering from a downturn at the beginning of the decade. The outlook is still challenging however, as new priorities are established in printed advertising, point-of-sale (POS) signage, posters, decals, and vehicle graphics. Smithers shows that in 2023 a total of 10.08 billion square metres of signage media will be printed globally, down from 10.81 billion in 2019.
By value, the printed signage segment was worth $US45.4 billion in 2019, which fell sharply to $US36.8 billion in 2020. In 2023, the global printed signage market total value will be worth $US40.9 billion. The sector is approaching the end of its post-COVID recovery curve however, and is now beginning to plateau, Smithers analysis shows. Its market forecast is for signage print volumes to increase moderately at a +0.7 percent compound annual growth rate to reach 10.4 billion metres square in 2028.