The Digital Printing Market is valued at a CAGR of 6. 45% over the forecast period 2020 - 2025. Digital printing is one of the fastest developing segments of the sign industry. Its growth can be seen in the incredible size of what can now be produced.
New York, Dec. 21, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Digital Printing Market - Growth, Trends, Forecasts (2020 - 2025)" - https://www.reportlinker.com/p05999335/?utm_source=GNW
Whatever the message or product, size has become a significant trend in advertising.
- Significant improvements in print manufacturing efficiency, with just-in-time production, and increased focus on supply chain management, such as superior demand forecasting, have led to a reduced amount of wastage in the overall print market. Technological developments aiding digital printing have ensured the minimization of waste, keeping the print quality at par.
- The advanced technology digital printing involves the use of mild solvents and less-harmful chemicals than those used in conventional printing technologies, such as offset printing and solid ink printing. Thus, with the increasing focus on green printing and cost-effective production, the demand for digital printing solutions is growing in the printed electronics market.
- Commercial printing, as a significant application, is witnessing transitional and structural changes, as the immediate shift from traditional methods of print to digital is challenging. The printing cost is expected to take a toll, as it is still a niche method requiring print of shorter/customized batches.
- However, with major consumer-oriented manufacturers gradually shifting to customized packaging to enhance shelf-visibility, in turn, attracting customers, the adoption of digital printing became vital. The beverage company, Coca-Cola, had been an early adopter for such a system and launched multiple campaigns based on digitally printed, highly-customized labels.There is an increased demand for digital prints wrapped on the glass fronts of office buildings, and huge digitally printed banners displayed down the sides of buildings. The automotive industry has also become a major part of the digital advertising world, with cars, buses, vans, and trailers fully wrapped with digital prints.
- The high-priced cost of investment in digital printing acts as a restraint for the growth of the overall digital printing market. These costs comprised the purchase price and installations fees (if applicable), maintenance and support costs as well as the price for ink and other consumables.
Key Market Trends
Commercial Printing Expected to Witness Significant Growth
- Developments in technology have enabled digital printing to be fast and affordable while providing high-quality results. Another reason digital printing is witnessing increased interest is that it enables a commercial printer to offer on-demand printing. Laser printers are cost-effective as well as have high output speeds in contrast to inkjet printers.
- As part of this segment, advertising, commercial, transactional printing, and security printing are under the scope of this study. Commercial printing has been popular since the invention of the printing press. Technological proliferation, along with rising applications, is anticipated to increase demand globally.
- The inclusion of customized marketing messages in promotional and marketing strategies is serving as one of the drivers in the commercial printing industry. This is creating a significant demand for personalized printing content, which is being catered by commercial printing companies that use digital printing technologies.
- Such technologies include variable data printing (VDP) that enables the customization of images, text, and graphics on each printed piece of their content. The steady prominence of the short-run self-publishing industry results in high demand for digital printing due to its beneficial aspects such as order flexibility, optimized stock handling, and minimization of time-to-market for printed content. This would also contribute to the commercial printing industry spend growth.
- The growing advertising needs of enterprises across the globe, along with extensive technological proliferation, currently represent the key factors driving the market growth. Organizations are increasingly adopting digital printers as they are more cost-effective and efficient for bulk printing.
APAC shows qualities of being the Fastest Growing Market
- The Chinese printing industry shows a high level of enthusiasm and interest toward new, data-based business models, digital platform solutions, and end-to-end digitized value creation chains. The digital printing penetration has enabled the local designers to have online access to over 12,000 folding carton designs, making the designing of packaging as a forefront toward adoption.
- Current trends and demand for the digital printing in China was fueled by 2016 government issue of “People’s Republic of China Network Security Law”. The same required that by 2020, large companies should be using 80% of domestically-made products. Therefore, by the need for digital information and a security strategy, most companies and institutions in China begun replacing their traditional equipment with local products instead global brands. This also affected a large proportion of printing service providers to have emerged in facilitating the vision.
- Amidst such fierce competition, the players operating in the digital printing industry are involved in strengthening their competitiveness through various efforts such as the investments into new production facilities, innovation of products, increased R&D, as well as an exploration of overseas markets.
- In September 2020, Arrow Digital Pvt Ltd, a company that is involved in distribution of a wide range of materials and equipment for the digital printing, had installed the EFI Pro 32r+ at VGA Digital Printers in Pune (India). The company believes that the new installation will bolster its current production capacity with higher speed and lowered printing cost per square foot. Further, the capabilities to print on diverse substrates and the ink is proving economical to the company.
- The Japanese digital printing market is driven by various factors, such as the growing adoption of e-commerce, consumer electronics, and packaged and processed food. Besides, factors such as the rise in demand for various application areas have been driving the market growth in the country.
- For instance, within the book printing industry, new publications are expected to foster market growth during the forecast period. For instance, Japanese woodblock printing from Taschen’s is a new, mammoth 600-page book that was released in December 2019. The book has witnessed rising interest as the book is said to trace the exquisite history of Japanese woodblock printing.
Digital Printing Market is moderately competitive and consists of several major players. In terms of market share, some of the major players currently dominate the market. The companies operating in the market are leveraging on strategic collaborative initiatives, to offer specialized products, increase their market share and increase their profitability. The companies operating in the market are also into mergers and acquisitions of start-ups that help in improving the served market portfolio on Digital Printing Devices to strengthen their product capabilities.
- September 2019 - Southland Printing Company Inc. acquired the business assets of Digital Printing Systems Inc., a provider of printed parking and transit products. This is suggestive of the market players trying to increase their expertise in the digital printing through expanded product offerings.
- May 2019 - Westrock Company expanded its capabilities to support the personal and beauty care and nutraceutical industries with the acquisition of UBS Printing Group. This acquisition is likely to extend the company’s footprint on the US West Coast and is expected to become a part of WestRock’s Multi Packaging Solutions business.
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