The market is projected to reach US$ 15 Bn by 2031, and would grow by more than 4.6% CAGR, during the assessment period 2021-2031.
Out store signage is any kind of graphic display used by retailers for the purpose of advertising & marketing, entice customers, wayfinding & directional signs, health & safety signs, and appearance. Out store signage also helps to attract consumers and expand knowledge regarding the availability of products and features of retail or any other shop.
According to latest research, out store signage market is set to witness high growth, owing to increasing number of power-efficient and bright display panels and rapid digitalization of displays. Moreover, online advertising and broadcasting is expected to restrict the growth of the out store signage market.
Adoption of bright and power-efficient display panels and rapid digitalization is expected to propel the growth of out store signage market. Emerging display technologies like micro-LED, high-impact visuals, signs, announcements, charts, diagrams, and marketing displays quantum dots propels the demand for the out store signage market.
Factors such as growing preference of electronic giants towards large display screens, rapid digitalization, the demand for traditional billboards is decreasing, adoption of emerging technologies like micro LED and quantum dots fuels the growth of the out store signage market in coming years.
The adoption of 4K, LCD TVs or CRT TVs, or Ultra High Definition TVs in residential sector propels the demand for Out Store Signage Market. In recent years, shops, retail locations, showrooms, lobbies, tradeshows, event venues, school campuses and many more uses high image resolution with better picture quality over traditional displays.
It helps them for marketing and advertising purposes in day-to-day operations and increases their sale/branding /presence in the market.
So increasing demand for large displays and technological developments in communication technologies augments the growth of the out store signage market.
North America held the largest revenue share of 35% in the out store signage market. Increasing adoption of micro-LED and quantum dots and the growing preference of electronic giants, communication technology across major industries such as entertainment, transportation, retail, healthcare, banking, and education propels the growth of the out store signage in North America region.
For instance, in 2018, Microsoft announced launch of simple, scalable, and secure platform for digital signage, and with Azure. It helps to run content management solutions on Azure which provide agility, flexibility, and scale to deploy content across the world in no time.
Also North America has presence of key vendors that offer the out store signage solutions including Microsoft Corp., NEC Display Solutions, and Leyard Optoelectronic. Presence of such top key player and their key growing strategies drives the demand of out store signage market in North America region.
Europe is the second largest contributor in out store signage market after North America, due to large contribution from media advertising market in the top European economies such as France, Germany, Spain and U.K.
Rising trend of mobile internet is likely to drive the growth of out store signage market in Europe region. Europe region has highest internet penetration rate along with the adoption of displays and technological developments in communication sector augments the demand of out store signage market.
Also stringent government regulations in countries like France, Germany, Italy, United Kingdom, Spain has been one of the major driving factor for the growth of the out store signage market.
Some of the leading vendors and companies of out store signage market include
These vendors have adopted various key strategies, to increase their customer base locally and globally. They are also spending millions of dollars into product R&D to fulfill the needs of their customers for out store signage market.
Furthermore, many companies are focusing on partnership with small and mid-sized organizations present in this market.
For instance, In March 202o, NEC and Sharp announced joint venture to combine display solution businesses. This partnership enables both companies to build upon their strengths and address the visualization needs of their global customers.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Out Store Signage Market
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