Sign Global Market Report 2024

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 growth in the historical period can be ascribed to factors such as urbanization, the expansion of retail, growth in the tourism and hospitality industry, developments in the event and exhibition industry, and the development of transportation infrastructure.

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%. The growth in the forecast period can be linked to initiatives for smart cities, a focus on environmental sustainability, increased customization and personalization, the rise of e-commerce and online presence, demand for health and safety signage, and the impact of global events and exhibitions. Major trends anticipated in the forecast period include the expansion of digital signage, the dominance of LED technology, the integration of augmented reality (AR) in signage, the prominence of wayfinding and navigation signs, and the prevalence of interactive touchscreen signs.

The anticipated growth in the economy is expected to drive the expansion of the sign market. Economic growth, marked by a sustained increase in a country's production of goods and services, is often measured by the rise in its gross domestic product (GDP). In the context of the sign market, economic growth plays a pivotal role, with businesses more inclined to invest in signage for purposes such as branding, advertising, and expansion during periods of economic prosperity. For example, the Organization for Economic Co-operation and Development reported in June 2023 that the UK's gross domestic product growth is expected to be modest at 0.3% in 2023, with a moderate improvement to 1.0% in 2024. Consequently, the increasing economic growth acts as a driving force for the sign market.

The anticipated growth in the digital advertising industry is set to propel the expansion of the sign market. The digital advertising industry encompasses activities related to creating, planning, executing, and managing promotional campaigns and messages on the Internet. Within this industry, the sign market plays a crucial role by providing effective and visually appealing mediums for conveying marketing messages, leading to enhanced brand visibility and increased consumer engagement. For instance, according to Canadian Industry Statistics (CIS) in March 2023, the display advertising industry generated an average revenue of $422.3 thousand in 2021, showcasing an increase from $416.8 thousand in 2020. Additionally, the advertising, public relations, and related services industries generated an average revenue of $364.8 thousand in 2021. Thus, the expansion of the digital advertising industry is a key driver for the growth of the sign market.

The rising demand for digital signage is attributed to its superior information management capabilities. Digital Signage, a remotely managed digital display used for sales, marketing, or advertising purposes, offers advantages such as easy deployment of advertisements and cost and time savings on logistics and printing materials. Types of digital signage experiencing increased demand include Multi-Screen Experience, Streaming Advertisements over IP, and Integration of Bluetooth for two-way communication.

Major companies in the sign market are strategically developing innovative out-of-home advertising solutions to gain a competitive edge. One such example is the 3D out-of-home billboard launched by Bata India, a footwear company, in December 2022. The billboard employs an anamorphic image content creation format, creating a three-dimensional visual experience for passersby. Installed in Sneaker Studios across 300+ stores in India, the unique technology highlights the footwear brand's range of sneakers and serves as a visually captivating advertisement in Bengaluru, setting a new standard in hyper-realistic billboard advertising.

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.

Asia-Pacific was the largest region in the sign market in 2023. Western Europe was the second largest region in the sign market. The regions covered in the sign market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the sign market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa. The sign market consists of sales of informational, persuasive, compliant, and pilon signs. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The primary types of signs include traditional billboards and signs, digital billboards and signs, and other signs. Digital billboards are characterized by computer-controlled LED displays or electronic-controlled off-premise signage capable of digitally or electronically altering displayed content, such as adverts, messages, symbols, figures, or images, through remote or automatic means. Signs find applications in both indoor and outdoor settings across various end-user verticals, including BFSI, retail, transportation and logistics, healthcare, and others.

The sign market research report is one of a series of new reports that provides sign market statistics, including sign industry global market size, regional shares, competitors with a sign market share, detailed sign market segments, market trends and opportunities, and any further data you may need to thrive in the sign industry. This sign market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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