Illuminating Signs Market: Introduction
Signage is an integral part of any business. It aids the presence of any business by highlighting the services, products etc. Throughout the day signs keep customers alert about the offerings, but it is difficult to read and understand the same sign during night time. Darkness reduces the visibility of the sign board, indirectly affecting business. Illuminated signs give value addition to the business, keep customers prompt and alert about the various offerings throughout the entire day and an effective decorative illumination on a sign reflects the strength of the business and lures many customers. New technologies have emerged which improve the quality of the illumination.
Now-a-days, LED technology is opted which not only helps scrolling message signs but it can be used as a light source as well thereby giving pleasant lighting effects. They also consume less energy thereby saving costs. Illuminating signs helps in advertising any business features, products, services and USPs. Moreover, they give clarity on a particular topic. They are also used on highways to guide the vehicles through night and day in order to avoid accidents.
Illuminating Signs Market: Types
There are various types of illuminating signs. They are classified based on the illumination. Incandescence, photoluminescence, electroluminescence, fluorescence, cathodoluminescence, radioluminiscence and phosphorescence are few of the types of illumination used. In electroluminescence lighting is obtained when strong electric field or electric current is passed in typical select materials, especially semiconductors. Examples are LED (Light Emitting Diodes) and LEC (Light Emitting Capacitors). They have longer life and are energy efficient; however their lower light output limits their uses. Cold Cathode lamps give light owing to the fluorescence that occurs when the phosphor coating is exposed to UV radiation. They are similar to fluorescent lamps, but a main difference being that the cathodes used in cold cathode lamps are bot electrically heated. Examples are CCFL (Cold Cathode Fluorescent Lamps) and Neon Lamps. Fluorescent Lamps create light owing to the fluorescence that occurs when the phosphor coating is exposed to UV radiation, same as cold cathode lamps. LFL (Linear Fluorescent Lamps) and CFL (Compact Fluorescent Lamps) are few examples.
High Intensity Discharge (HID) lamps give light via electric arc discharge which takes place when the metal salts and gas in a transparent arc get ionized by using a pulse of high voltage across the entire lamp and between two tungsten electrodes. These type of lamps are more efficient than fluorescent. Mercury vapour lamps, ceramic metal halide, low pressure sodium lamps etc., are few examples. Halogen lamps are also used which produce light through incandescence. They have longer life span and greater efficiency. Radio luminescent lamps generate illumination when a radiation particle like an electron is emitted via beta decay through gaseous tritium and collides with a molecule or an atom. It creates fluorescent light. Photo luminescent products generate illumination by absorbing photons and then re-emitting them. Generally the source is ambient light. This type of illumination is used in “Glow in the dark” signs, marking and tapes.
Illuminating Signs Market: Advantages and Disadvantages
There are several advantages of illuminating signs. The use of illuminating signs is seen in various industries such as automotive, manufacturing, medical, road construction etc. They give catchy look to the signage, increasing the intensity of the purpose of that signage. The affordability of different illuminations used and their respective advantages has increased the adoption of illuminated signs dramatically. The message delivered will be clear and will create a good impact on the customers. Any news or new features that it reflects will be remembered by the individual owing to the attractiveness of the signage. Illuminated signs help business that open late or close late. Illuminated sign can take a business to a level, standing out from the competition, attracting more people and arousing interest of people. It gives a shape to the activities, strengthens visibility and improves credibility. They can be used indoors as well. To sum up the advantages, illuminating signs catch customer attention even from long distances, give better visibility and strengthens overall appearance and credibility.
Disadvantages of illuminating signs are:
- They are costlier than non-illuminating signs. New material used in illuminating signs eats up more costs as compared to the non-illuminating ones
- Uses electricity adding to costs
- Requires maintenance; moreover if the sign get damaged there is huge cost of replacement and it depends upon the type of illumination used; thereby it is essential to maintain them
Even though they have these cost related limitations, they can raise the ROI of any business, making these costs redundant.
Illuminating Signs Market: Companies
The manufacturers of illuminating signs are UL, Alpha Lewis Signs, Scope Graphics, Exit Light Company, Signarama, Osram Group and NES Solutions.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.