Global Commercial Printing Marketing was valued at $411.99 billion. By 2026 it is estimated to be $472.35 billion with a compound annual growth rate (CAGR) of 2.24% in 2021-2026. The printing industry was hit hard by the global pandemic however, the printing industry is expected to witness remarkable growth in the next 4 years with the physical return of printing and exhibitions reopening.
There are many advances in print technology, embracing creative media and communication technologies with many leading printing companies adapting innovative ways of digital printing technology for customisation. What does the future of the printing industry look like?
Everyone loves a personal touch when it comes to products. According to Deloitte, 36% of customers expressed an interest in purchasing a personalised product. So much so that personalisation has taken the eCommerce industry by storm, from Shopify’s tailored recommendations to Nike’s co-creation service. The print industry can stay on top of this with an integrated product design tool for their web-to-print store to customise a wind range of products. This is an excellent solution for businesses who are looking to start their business online or integrate an online aspect into their brick and mortar business.
Artificial Intelligence (AI) and the Internet of Things (IoT) are set to revolutionise the printing industry. The use of smart printers allows for the saving of resources and paper. Print management software using smart algorithms can recommend various layouts, minimise wastage, and indicate machine maintenance and ink replacement. AI can reroute printing jobs automatically to other printers and also generate designs using neural networks and deep learning methods.
Cyberattacks are on the rise in 2022 and the printing industry is no expectation. Printing providers should prioritise printing security with the installation of security software to protect sensitive customer data. The use of AI can also increase your printing security and control print authorisation protocols.
3D printing used to be seen as a niche market however today 3D printers are more accessible at more affordable prices. The worldwide market for 3D printing was $12.6 billion and is set to grow at a CAGR of 21% by 2028. The 3D printing industry can also set your business to collaborate with many different industries such as construction, education, automotive, art, furniture, firearms, eyewear, and more.
This is a trend seen in the printing industry that has the potential to re-shape the sector. Many big companies in the industry such as Linux and Lexmark have already jumped on the bandwagon of cloud printing by providing cloud-managed print service. This negates the need for on-premise employees and servers where a printing job can easily be carried out remotely.
Sustainable printing practices are on the rise with many customers more aware of their impact on the environment. In a survey carried out by Neilsen, 73% of global consumers say they would definitely change their consumption habits to reduce environmental impact. Leading printing provider HP has already moved to initiate low-carbon printing. Other sustainable methods of printing include LED UV printing, digital printing and using recycled paper.
The demand for inkjet printers is on the rise with a marketplace net worth of $80.4 billion and is expected to rise to $118.2 billion by 2025. Inkjet printers are a very popular choice with most using drop-on-demand technology making them ideal for packaging options printing to cardboard and plastic. They are cost-effective, require no wake-up period and do not produce loud noises.
Take the labour-intensive elements out of your production line with the use of robotics. W&G leading printers in Northern Ireland have replaced the physical element of manually stacking and binding paper with P-Stacker machines, allowing the machine to take on the labour, eliminating ergonomic issues and improving output by 10%.
Countertop graphics can be an extremely valuable marketing asset for a business and is taking the printing industry by storm. The use of adhesive technology to place logos and menus on countertops means the countertop graphic will not slide when installed, offering a significant advantage over traditional printed mats.
Equipment leasing can be used for all sorts of expensive equipment that your business needs including printers and printing technology.
When you’re faced with a major purchasing decision, always ask yourself if you really have to buy that piece of equipment outright. Maybe you don’t, maybe there’s a better choice, one that a financial solutions provider like GRENKE can help you make.
Talk to GRENKE today!
As one of the leading financial service providers in the Irish market, GRENKE’s slogan is ‘Fast, Forward, Finance’. GRENKE offers entrepreneurs fast and flexible financial solutions through a range of leasing services. We match the perfect financial solution to your unique business needs, from small businesses to large enterprises.
Over the last 40 years, GRENKE has provided leasing to numerous styles of businesses and organisations; sole traders, partnerships, public and private limited companies, associations and organisations, medical, health, and educational providers, public hospitals, semi-state institutions, Government bodies and so much more.
Our expertise and strong market position are no coincidence. If you are a business owner looking for financial solutions in Ireland or professional financial advice on fast and flexible financing, talk to us today!