InfoTrends/CAP Ventures projects 1 billion sq ft of outdoor graphics in North America by 2008
The wide-format outdoor graphics market is one of the fastest-growing areas of the wide-format digital printing market, according to InfoTrends/CAP Ventures. The consulting group projects that the segment will demonstrate a compound annual growth rate (CAGR) of 12 percent between 2003 and 2008. By 2008, aqueous inkjet and solvent-based inkjet printing are expected to produce more than 1 billion sq ft of outdoor graphics in North America alone.
"The wide-format outdoor graphics printing market is evolving into a unique arena that represents potential growth opportunities for a wide variety of businesses," says Tim Greene, associate director at InfoTrends/CAP Ventures. "Not only is there a substantial opportunity in terms of retail value for the traditional signage market, but there is an excellent opportunity for other segments of the market--such as service bureaus, quick and commercial printers, photo labs, repro shops, etc.--to grow their revenues based on the availability of new outdoor-graphics-producing technologies, specifically UV-curable inkjet printing."
In a recent study, "Outdoor Graphics: Not Just for Sign Shops Anymore," InfoTrends/CAP Ventures also found that:
--25 percent of the wide-format output that study respondents produce is intended for outdoor use;
--On average, more than half of the consumables purchased by respondents are from third-party vendors; and
--When it comes to supplies, respondents place a higher premium on availability than on brand. (InfoTrends/CAP Ventures: www.capv.com)
Did you enjoy this article? Click here to subscribe to the magazine.