Printed signage market set to grow
With digital technology evolving at a rapid pace, and more and more brands investing in digital marketing channels and digital screens to promote campaigns and products, the future of printed signage has the potential to be knocked off the post.
Thursday, 23 May 2019 10:41 GMT
Due to a rise in online shopping, traditional shops are expected to invest in more printed retail signage
However, despite a reported yearly decline of 0.3% in the printed signage market since 2014, new figures from Smithers Pira forecast a return to growth market by 2024.
The report, which is titled ‘The Future of Printed Signage in an Electronic World to 2024,’ shows that despite experiencing a fall from $43.34bn (£34.6bn) in 2018 to $43.30bn (£34.27bn) in 2019, by 2024 the market is expected to reach a value of $43.73bn (£34.61bn), growing by 0.2%.
By reviewing historical and current market sizes and trends and investigating the market and technology trends over the last few years, Smithers Pira outlines a number of key trends expected to drive the market forward.
Foreseeing promotional and informational printed signage demand being impacted by changes in global and local economic performance, the report says: “As economies grow, government and private investment in infrastructure and buildings also tends to grow, increasing the demand for informational signage.
As economies grow, government and private investment in infrastructure and buildings also tends to grow, increasing the demand for informational signage”
“Similarly, consumers feel more confident and spend more on goods and services, boosting the demand for promotional signage as retailers and brand owners compete for this boom in sales.”
With a rise in online shopping, traditional high street stores have found themselves having to create more creative and eye-catching displays to secure the attention of passers-by. Because of this, the report predicts an even bigger demand for retail signage.
Whilst the rise in e-commerce is putting strain on physical shops, it is not all bad news for the printed sign industry, partly due to web-to-print platforms for inkjet.
The report says: “Web-to-print platforms are changing the way that printers take and process orders, for inkjet enabling customers to place orders via the internet that will flow directly to production and on to the despatch department on completion.
Web-to-print platforms are changing the way that printers take and process orders
“The process is ideally aligned with digital print processes that print from a computer-generated image, saving time and costs for both the customer and the printer over the traditional process of initial briefings, artwork and modification and final approval.”
As we shift into a digital age, the constant development of technology is another factor in which the report predicts will keep the signage industry moving forward.
“The key factors driving developments in all of these print processes are centred around reducing production costs through faster press set-up, and increased use of computer-controlled automation at all stages of the process, from taking the initial order to despatch to the customer when completed.”
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