Transparency Market Research delivers key insights on the global flex banner market. In terms of revenue, the global flex banner market is estimated to expand at a CAGR of ~5% over the forecast period of 2020 to 2030, owing to numerous factors regarding which, TMR offers thorough insights and forecasts in the global flex banner market report.
In the report, TMR predicts that the global flex banner market would be largely driven by growth of out of home advertisement, which is expected to continue to boost the market during the forecast period.
According to the flex banner market report, the product segment includes flex banner and vinyl sticker. Flex banners are divided into back lit, front lit, and non lit. Vinyl sticker segment is sub-segmented into back lit, front lit and non lit.
In terms of raw material, the flex banner market is divided into PVC, fabric, and others. Flex banners are extensively used in different outdoor advertisements. The product has higher utility in custom office signboard, point of purchase signage, trade show displays, real estate signs, and retail store signs. Rising popularity of indoor advertisements is boosting the sale of vinyl stickers at the global level. Latest printers have several features for vinyl printing, which is promoting the vinyl sticker segment.
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Based on end user, the market has been divided into BFSI, retail, entertainment, sports & leisure, and others. Retail is the largest and fastest growing segment. Rising demand for FMCG products is one of the major factors driving the market.
As per the distribution channel, the global flex banner market is bifurcated into online and offline. Companies are investing in online markets by understanding the growing demand. These companies are providing doorstep flex delivery, which is attracting end users to make purchases through online channels. Offline segment is the largest segment as a result of sales through authorized distributors.
The flex banner market is majorly driven by the advertisement industry. The continued dominance of static out of home advertisements is anticipated to continue to generate demand for flex banners. The steadfast growth of urbanization, access to broadband, and technological innovation increasingly promotes a better ecosystem for out-of-home (OOH) media. Now more than ever before, OOH media continues to foster effective communication between consumer and marketer. OOH media offers relatively higher penetration than any other advertisement media.
The ability of digital OOH to offer interactive and more impactful advertisement is expected to give it an edge over the static OOH market. This is likely to hinder the market for static signage. Digital-out-of-home (DOOH) is a modern form of advertising that uses digital media for endorsing audio and video messages related to products or services outside the home. DOOH, also known as digital signage, is projected to effectively replace the traditional and orthodox forms of marketing and advertising.
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The demand for flex banners is predicted to rise during the ongoing COVID-19 (coronavirus) pandemic. Pune being one of the prime cities of India, a rapidly-developing country of the Asia Pacific region, is under scrutiny for being under the red zone with increased number of COVID-19 cases. Hence, the Pune Cantonment Board (PCB) and Khadki Cantonment Board (KCD) are displaying precautionary steps on banner and flex to contain the spread of the virus. Hence, companies in the flex banner market are capitalizing on this trend to increase the availability of banners.
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