The sign industry wasn’t exactly poised for growth at the start of 2016, but the good news is that the tables have turned! A quarterly economic report by the International Sign Association (ISA) revealed a forecast of growth for 2017 that is expected to rise, with conditions improving significantly before the year’s end. Specifically, and not surprisingly, the electrical/digital signage sector is expected to soar in upcoming years.
Four Sectors of Growth in the Sign Industry & What They Reveal for 2017
The ISA report assesses four key segments in the sign industry – printing, wayfinding, electric signage and digital signage. Analyzing supplier and end markets helps those in the sign industry determine what trends they can expect and how to respond to them accordingly. According to Brandon Hensley, ISA’s chief operating officer and executive director of the National Association of Sign Supply Distributors (NASSD):
“While the overall sign and graphics industry is strong, it does appear that suppliers and manufacturers will enjoy some robust periods and endure other more typical quarters into 2017. Manufacturers and suppliers can use the report to anticipate—and prepare for—those times while maximizing the stronger periods.”
The Value of the U.S. Digital Signage Market
In today’s fast paced digital world, it should come as no surprise that the sign industry is expected to rise to the occasion. Digital signage helps improve consumers’ ability to navigate spaces, process information and make decisions based on visual cues.
In 2015, the digital signage market in the U.S. was valued at USD 16.88 billion. The report “Digital Signage Market by Product (Kiosks, Menu Boards, Billboards, Signboards), Offering (Hardware (Display Panels, Media Players, Projectors), Software, and Services), Application, and Geography – Global Forecast to 2022” revealed insight that the digital signage market is expected to reach a value of USD 27.34 billion by 2022, at a CAGR of 6.7% between 2016 and 2022. Another market research report revealed that digital signage in 2017, specifically in the education sector, is expected to grow at an even higher CAGR of 10.36% between now and 2022.
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