Billboard & Sign Manufacturing in the US - Industry Market Research Report

Positive signs: The industry's bounce back will be limited by the slowdown of the economy, resulting in a decline in industry revenue

Online media has challenged many traditional alternatives to billboards, like newspapers and magazines, slowly seeping into billboard advertising as well. Nonetheless, advertisers have continued to value Billboard and Sign Manufacturing industry products as a way to reach mass audiences in an increasingly fragmented media landscape, benefiting demand for the industry. The effects of the COVID-19 pandemic undermined industry revenue in 2020 as downstream demand declined broadly, reducing advertising expenditure and business formation. The pandemic has also produced a broad decline in nonresidential construction spending, reducing demand for general signage from commercial, public and institutional facilities. While advertising budgets have bounced back and boosted demand for the industry, revenue declined at a CAGR of 1.6% to $14.7 billion over the past five years, including tepid growth of 0.1% in 2023. This industry manufactures billboards, scoreboards, retail store signage and transit station advertising displays. Products include nonelectric signs, digital billboards, video screens and neon signs. This industry does not include outdoor kiosks, phone booth advertising, bus or taxi advertising and other advertising on street furniture. It also does not include any advertising or displays made from printing paper or paperboard. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.