The signage market - Italy

Traffic signs are guidelines for motorists; they are the basis for proper road behavior, and safe driving would be impossible without them. The first traffic signs in history were often handmade, made of wood or carved in stone. Over the years, as the number of car and motorcycle owners increased, there was a need to standardize their design and production. Traffic signs can be divided into three broad categories: guide and direction signs, warning signs, and regulatory signs. Most signals are made of aluminum or sheet metal, there are also illuminated or backlit signals, which require a more complicated and expensive structure, and traffic lights, which need a computer to control their use. In October 2019, a European directive was adopted that sets strict criteria for the maintenance and technical characteristics of traffic signs in member states. In 2020, the world market for traffic signs was valued at $5.92 billion. From 2020 to 2027, the market is estimated to grow at a CAGR of 3.57 percent. In Italy, road signs can only be purchased by companies authorized by the Ministry of Infrastructure and Transport. As a result, both fully private and public companies receive a fee from the state for public ownership. These companies, among other things, provide road signs as well as all other signs that convey prescriptions or safety indicators. For example, signs for the prevention of accidents at work or signs of a private nature, that is, those coming from an ordinary citizen rather than the state. In Italy, "Assosegnaletica," which originated from part of Anima Confindustria, is the point of reference for companies in the road sign industry. The main trends in the road signs market are the circular economy in their production and the rise of advanced technologies to reduce the number of road accidents. The replacement of road signs is beginning to affiliate with the circular economy processes developed in the country through the recovery and recycling of ferrous materials and aluminum. With 10 million driverless cars expected by 2023, road signs will also evolve with new rules and symbols. This does not exclude the development of smart roads for developed vehicles, where signage will be digitally transformed and leverage Big Data and internet of things technology for targeted and more persuasive signage.