Billboard Sign Manufacturing Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, China, UK, Canada, Japan - Size and Forecast 2024-2028

Billboard Sign Manufacturing Market Size 2024-2028

The billboard sign manufacturing market size is estimated to grow by USD 9.36 billion at a CAGR of 3.71% between 2023 and 2028. In the dynamic world of retail marketing, mall operators are leveraging technology to enhance the shopping experience and boost advertising effectiveness. One key offering is the high growth of retail space, which provides ample opportunity for brands to showcase their products. Moreover, the integration of analytics enables targeted and personalized ads, increasing their impact. Additionally, the use of outdoor ads in sync with mobile phones through beacon technology offers a seamless customer journey, bridging the gap between physical and digital marketing. This innovative approach not only attracts footfall but also ensures higher engagement and conversions.

What will be the Size of the Market During the Forecast Period?

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Market Dynamics and Customer Landscape

The market is evolving with innovations in backlit displays and 4K digitized sign displays. Companies are leveraging large-format printing and ultra HD digital signage solutions to enhance advertisement content and impact logos for maximum visibility. Strategic Factory, A Signs, and other industry leaders are incorporating embedded software and media players into digital signage boards to deliver dynamic, digitized promotion. Applications include building signage, pylon signs, monument signs, and vehicle graphics for fleet branding. Wayfinding and directional signs are becoming more sophisticated with gaze tracking and biometric technology. This market caters to diverse needs, from home monitoring systems to leak detector systems, all while adapting to the shift from traditional advertising and print marketing to innovative products and digital displays. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

The high growth of retail space is notably driving the market growth.  The retail industry is growing rapidly due to the increasing demand for consumer goods and business expansion plans by retailers. Factors such as increasing urbanization, rising household incomes, and increasing demand for quality products and experiences are driving the growth of the retail sector. The growth of the global retail industry is similar in both developed and developing countries. In April 2021, China recorded a growth rate of around 17.7% compared to the same month in 2020. In the US. retail sales are up about 7.2% year-over-year in 2021.

Developing countries are also contributing to the growth of the global retail market, with countries such as India seeing high levels of investment in the retail sector. In March 2022, DLF, India's largest commercial property developer, announced a USD 241 million investment. DLF plans to expand its retail property portfolio and develop two new shopping centers. Moreover, in February 2021, the Indian retail industry reached around 93% of its pre-COVID-19 business levels. As retail space expands, manufacturing signage acceptance increases. A key factor in disseminating information, creating an engaging customer experience, and attracting more customers, signage can be used as part of a company's customer relationship management and marketing tools. Therefore, as the sales area expands, the demand for signboard production is expected to increase worldwide. These factors are expected to drive the growth of the market during the forecast period.  

Significant Market Trends

The advent of collaborative robots for billboard sign manufacturing is a key trend influencing market growth. Robots, also known as industrial robots, are widely used in the manufacturing industry around the world. These machines help companies optimize speed, improve accuracy and reduce reliance on human labor. Sign manufacturing uses industrial robots for tasks such as order picking, component assembly, final inspection, sorting, and packaging. In recent years, advances in robotics have led to the development of collaborative robots, also known as cobots. Collaborative robots can interact and work with humans. 

Cobots are compact, lightweight, and highly flexible. Cobots are widely used in sign manufacturing to assemble and test the electronic parts or components of signs. Vendors operating in the market are increasingly adopting cobots to help human workers manufacture products efficiently. Cobots are not only cost-effective, highly productive, and adaptable, but they also contribute to the sustainability of the supply chain. These benefits associated with the use of robots in sign manufacturing are expected to help sign manufacturers increase their revenues during the forecast period. 

Major Market Challenge

The growing popularity of digital marketing is challenging the market growth. Social media has become an important data source for many businesses as it allows US to provide instant feedback on content via blogs and social networks. Content developers and advertisers are using social computing tools for branding, marketing, and broadening knowledge management initiatives, which will improve cost-effective collaboration for their global workforce. Vendors are exploring new platforms to market their latest services, products, and solutions, and to receive public feedback and opinions, by registering on social networking sites such as Twitter and Facebook. The growing importance of sentiment analysis and advances in text analytics are driving companies to integrate social media into their business processes.

Digital marketing provides broad reach to target customers regardless of their geographic footprint. Businesses use online marketing through websites and social media platforms to increase brand awareness, sign-up, and grow their audience. The cost efficiency associated with digital marketing outperforms other advertising methods using low-frequency dunking sonar (LFDS) installations. Investing in digital marketing campaigns on social media is cost-effective and controllable. Additionally, the availability of various online marketing tools allows marketers to reach a wider audience at a lower cost. The continuous shortcoming of traditional marketing methods and the high costs associated with their installation is expected to increase digital marketing acceptance and decrease signage acceptance. This is expected to have a negative impact on the growth of the global sign manufacturing market during the forecast period. 

Key Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Who are the Major Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

APG SGA SA: The company deals in digital and analog poster advertising in railway stations, on streets and squares at airports, in shopping centers, and in transport facilities. The company offers billboard sign manufacturing for public spaces available across Switzerland in digital or analog and tailored according to the need.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market players, including:

• Bennett Coleman and Co. Ltd.
• Burkhart Advertising Inc.
• Clear Channel Outdoor Holdings Inc.
• Daktronics Inc.
• Drury Displays Inc.
• Euro Media Group
• EyeMedia
• Fairway Outdoor LLC
• Global Media and Entertainment Ltd.
• IZON Global Media
• JCDecaux SE
• Kesion Co. Ltd.
• Nomadic Genius LLC
• oOh media Ltd.
• OUTFRONT Media Inc.

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

Market Segmentation

By End-User

The market share growth by the retail segment will be significant during the forecast period. Retail is one of the key industries contributing to the growth of the market. As the competition among retailers increases, businesses are looking for new ways to attract customers and provide innovative customer service. Retailers are looking to integrate games, interactive gesture recognition, smartphone applications, social media applications, and interactive touch recognition capabilities into their digital billboards.

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The retail segment was valued at USD 12.49 billion in 2018. Digital signage offers many advantages over traditional signage as it facilitates customer interaction, provides precise and centralized control, and offers superior design options. Retailers use digital billboards to provide information about discount updates and in-store product offers. Retailers also use digital signage to disseminate business information and specific product information to sell more products to their customers. Many retailers in the apparel industry use digital billboards to support their customers' shopping experiences. These factors are anticipated to drive the growth of this market segment during the forecast period.  

By Region

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Europe is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

Countries such as Canada, Mexico, and the United States are the largest contributors to sales in the market in North America. The North American signage manufacturing market has been primarily driven by a high demand for signage solutions. Businesses across all industries implement billboard solutions to engage customers, increase customer retention, and derive actionable insights based on audience analytics. Additionally, North American companies are looking for high-definition billboard solutions to offer their customers a unique experience. Various vendors in this region also offer a variety of digital billboard options tailored to the end user's needs. This includes a small high-definition digital billboard for up-close viewing. Therefore, these factors are expected to increase the adoption of signage and are expected to boost the growth of the regional market during the forecast period. 

Segment Overview

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• End-user Outlook 
  • Retail
  • Corporate
  • Hospitality
  • Sports and entertainment
  • Others

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

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Market Analyst Overview

The market is dynamically evolving with the integration of ultra HD digital signage solutions and advanced display technologies such as OLED, Super AMOLED, and UHD. Companies are leveraging media players and software & hardware compatibility to deliver high-resolution banners, posters, and video walls. Innovations in PVC-based media and transparent LED screens cater to diverse needs, from e-commerce and real estate to automobiles and consumer durables. Media owners and tech companies are embracing artificial intelligence and machine learning to enhance touchless & interactive solutions and optimize display screens for foot traffic and hyperlocal services. Partnerships and collaborations drive growth across sectors like hospitality, banking, and entertainment, reflecting a shift towards online advertisement & broadcast and 5G technology integration. The market also focuses on maintenance, consulting, and complex taxations to ensure effective integration & installation and compliance with regulatory processes.

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What are the Key Data Covered in this Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2024 and 2028
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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