Sign Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Sign Global Market Report 2021: COVID 19 Impact and Recovery to 2030

  • February 2021 •
  • 300 pages •
  • Report ID: 6025302 •
  • Format: PDF
Major companies in the sign market include Samsung Electronics Co.Ltd.; LG Display Co.Ltd; NEC Display Solutions; Sharp Corporation and Planar Systems.

The global sign market is expected to grow from $99.81 billion in 2020 to $105.25 billion in 2021 at a compound annual growth rate (CAGR) of 5.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $129.31 billion in 2025 at a CAGR of 5%.

The sign market consists of sales of signs by entities (organizations, sole traders and partnerships) that produce signs. The sign manufacturing industry comprises establishments that produce signs and related displays of all materials (except printing paper and paperboard signs, notices, displays). The sign market is segmented into traditional billboards and signs; digital billboards and signs and other signs.

Asia Pacific was the largest region in the global sign market, accounting for 45% of the market in 2020. Western Europe was the second largest region accounting for 25% of the global sign market. South America was the smallest region in the global sign market.

There is a rise in demand for digital signage due to its better information managing capabilities. Digital Signage is an obscurely administered digital display that is used for sales, marketing or advertisement purposes. Digital Signage enables to easily deploy advertisements and also saves cost and time on logistics and printing materials. Multi-Screen Experience, Streaming Advertisements over IP and Integration of Bluetooth to enable a two way communication are few of the digital signage types that are on the rise.