Market Trends of United States Printed Signage Industry
This section covers the major market trends shaping the US Printed Signage Market according to our research experts:
Printed Billboards are Expected to Witness Downfall
- Billboard advertising is considered to one of the most popular types of outdoor advertising owing to its sheer size and impact as there are typically deployed in high traffic areas such as expressways, highways wherein advertisers spend vast amounts of investments to grab the attention of consumers. The United States takes full advantage of the billboard advertising as an average American spends more than 70% of their day outside their homes, and every week 96% of those are exposed to advertisements while driving a vehicle.
- Also, the spending on advertisements in the United States is expected to reach close to USD 200 billion, making it the second to the largest contributor to the advertising industry, which is in China. However, with the growth of digital advertising in the country, the market for printed signage is steadily declining. Also, according to the OAA, the United States has started to adopt digital billboards from the year 2016, and it is estimated to have over 9,600 digital billboards installed across the country by the end of the year 2020.
- Further, Digital signage also gives flexibility to retailers, thereby enhancing customer engagement with the brand. Digital Signage also captures more views as compared to printed signage. The ability to change the content and schedule/arrange advertisements based upon the client’s requirement are the factors leading to the slowdown of the market studied.
- Additionally, Businesses are focused on spending on mobile advertising as customer engagement is maximum. Brands are inclined toward advertising their products online, and thereby increasing their online spendings. For instance, Adidas is expected to increase its online business from EUR 1 billion in 2016 to EUR 4 billion in 2020, through digital marketing, and the aforementioned factors are restraining the market’s growth.
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BFSI Sector to Witness Downfall
- In the BFSI sector, printed signage is usually used in various places, including ATM (banner signs, posters, etc.), interior, wall graphics, and wall projection. The banking industry in the United States is growing at a significant rate propelling the number of ATMs, owing to its rising population and need for the cash dispensing machines.
- Additionally, the country has a larger number of tourist populations, which raises the need for cash transactions, thereby propelling the demand for ATM in the region. The sector is increasingly using signage solutions to enhance the in-branch customer experience. The strategically located displays can inform customers of new services, reduce wait time, and improve the bank's overall perception.
- However, owing to the high penetration rate of digital signage to its added convenience, low-cost material, and high reach, which is likely to negatively affect the market growth in this industry over the forecast period. Indoor digital signage draws over 400% of more views than static displays and increases engagement, as per the Embed Signage ( an Information Technology and Services company).
