The Global Printed Signage Market is expected to register a CAGR of 0.19% during the period of 2022-2027, according to a report released by Hyderabad based Mordor Intelligence. The study covers the application of printed signage in multiple end-user industries, such as BFSI, retail, transportation, logistics, healthcare, among others. The study further analyzes the overall impact of COVID-19 on the demand-side market dynamics and the ecosystem on a near and short-term basis.
The COVID-19 pandemic has created economic turmoil for small, medium, and large-scale industries worldwide. Adding to the woes, lockdown inflicted by the governments across the globe has further resulted in industries taking a hit and disrupting the supply chain and manufacturing operations worldwide. Due to this, the Printed Signage Market has had a mixed impact due to the change in demand from various end-user industries. In most of the end-user industries, printed signage had witnessed a significant decline.
According to the Report, cost-effectiveness is the primary factor that drives the market growth, as it offers low-cost and efficient signage solutions for many industries. The lower investment required for deploying these types of signs and a longer lifespan is the major factors that are helping the printed signage market to survive, with intense competition from the emerging digital signage. The prime reason behind most of the businesses and companies that opted for printed signage solutions is the ease of deployment without the need for additional maintenance costs.
