Billboard Sign Manufacturing Market Growth by End-user and Geography - Forecast and Analysis 2023-2027

The billboard sign manufacturing market size is estimated to grow at a CAGR of 3.3% between 2022 and 2027. The billboard sign manufacturing market size is forecast to increase by USD 8.07 billion. The growth of the market depends on several factors, including the high growth of retail space, the use of analytics to increase ad effectiveness, and the integration of outdoor ads with mobile phones. 

This billboard sign manufacturing market report extensively covers market segmentation by end-user (retail, corporate, hospitality, sports and entertainment, and others) and geography (North America, APAC, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the Size of the Billboard Sign Manufacturing Market During the Forecast Period?

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Billboard Sign Manufacturing Market: Key Drivers, Trends, Challenges, and Customer Landscape

The high growth of retail space is notably driving the market growth, although the growing popularity of digital marketing may impede the market growth. Our researchers analyzed the data with 2022 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 Billboard Sign Manufacturing 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 Billboard Sign Manufacturing 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 Billboard Sign Manufacturing Market Challenge

The growing popularity of digital marketing is challenging the billboard sign manufacturing 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 Billboard Sign Manufacturing 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 Billboard Sign Manufacturing Market Customer Landscape

Who are the Major Billboard Sign Manufacturing Market Vendors?

Vendors 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 vendors, 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.

What is the Fastest-Growing Segments in the Billboard Sign Manufacturing Market?

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 12.44 billion in 2017 and continued to grow until 2021. 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.  

Which are the Key Regions for the Billboard Sign Manufacturing Market?

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North America is estimated to contribute 35% 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 billboard sign manufacturing 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 billboard sign manufacturing market during the forecast period. 

In 2020, the outbreak of the COVID-19 pandemic brought most industrial activities, including sign manufacturing units, to a halt, negatively impacting the billboard sign manufacturing market. Major industries such as automotive and retail, excluding pharmaceuticals, were also adversely affected, resulting in reduced signage adoption in the region. However, the market recovered due to vaccination. Due to the subsequent decline in the number of COVID-19 cases, restrictions were lifted and all industrial activity resumed. This restored Billboard's supply chain and revitalize demand from the local end-use industry. Therefore, the billboard sign manufacturing market is expected to grow during the forecast period.  

Segment Overview

The billboard sign manufacturing market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• End-user Outlook (USD Billion, 2017 - 2027)
  • Retail
  • Corporate
  • Hospitality
  • Sports and entertainment
  • Others

• Region Outlook (USD Billion, 2017 - 2027)
  • 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

Parent Market Analysis

The report categorizes the global billboard sign manufacturing market as a part of the global advertising market within the global media and entertainment sector. The global media and entertainment market cover companies offering products, services, and solutions in advertising, broadcasting, cable and satellite, publishing, movies and entertainment, interactive home entertainment, interactive media and services, and gambling areas.

Billboard Sign Manufacturing Market Scope
Report Coverage	Details
Page number	153
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 3.3%
Market growth 2023-2027	USD 8.07 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	2.4
Regional analysis	North America, APAC, Europe, South America, and Middle East and Africa
Performing market contribution	North America at 35%
Key countries	US, Canada, China, Japan, and UK
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	APG SGA SA, 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., Primedia Pty Ltd., Stroer SE and Co. KGaA, Talon Outdoor Ltd., and Total Outdoor Media
Market dynamics	Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Billboard Sign Manufacturing Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the billboard sign manufacturing market between 2023 and 2027
• Precise estimation of the size of the billboard sign manufacturing market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market industry across North America, APAC, Europe, South America, and Middle East and Africa
• Thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of billboard sign manufacturing market vendors

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