Digital Printing Growth
A Brief History of Digital Printing Growth
To understand Digital Printing Growth trends it is important to understand the history of digital print.
Commercial digital printing developed from the invention of the laser printer at Xerox in the 1970’s.
This environment has seen significant change.
Print engines have increased in speed and quality by increasing the resolution capabilities.
New market opportunities opened up with print-on-demand, direct marketing, photo-books and signage.
Sophisticated personalisation, far beyond text salutation and addressing capabilities became increasingly common.
Variable content produced in high quality on various substrates – with no minimum quantity.
The Benefits of Digital Printing
Originally the main benefit of digital print was to produce low cost short run printing.
With no plates and press make ready – the breakeven point against litho print steadily increased.
In document printing a significant advantage is the ability to print collated document sets simply and cost-effectively.
Similarly, book production was given a new lease of life by developments in digital printing on demand.
Gradually digital printing gained an increasing share of the market at the expense of other traditional print methods.
Newspapers, magazines, manuals, stationery, large format posters and many more print products adopted digital technology for printing.
Forecasting Digital Printing Growth Trends
Individual market share forecasts differ but all follow the same general trend.
The print industry, like many industries, is on the brink of significant change.
There is considerable market disruption.
Intense competition, more demanding customers and a constantly shifting technological landscape are impacting on the industry.
Declining print volumes and lower margins make the task of sustaining growth more difficult.
The Digital Printing industry is now in the mature stage of its economic life cycle.
Yet over the next five years to 2023, digital print industry revenue is expected to increase.
Digital Printing Growth Trends
The industry is characterised by consistent growth.
It has been recently been broadly in line with that of the overall economy, which is indicative of a mature industry.
In 2017, digital printing accounted for 16.2% of the global print market value and 2.9% of the volume.
This is up from 2.1% of the volume in 2012, and the transition is accelerating to 3.9% of volume by 2022.
Participation in the industry is on the rise.
The number of digital printing companies projected to rise an annualised 5.3% up until 2023.
Why is Digital Printing Growth So Strong?
Over the past decade, the rise of online media has provided fierce competition to operators in the printing sector.
Despite this trend, and in some ways because of it, the Digital Printing industry has recorded modest growth.
As commercial printers have experienced declining demand, they have increasingly adopted digital printing techniques.
Digital printing services result in lower overhead costs and allow operators to offer customers greater flexibility.
Digital presses are now part of their production armoury to provide the fast response demanded by customers.
The Economics of Digital Printing
The choice between digital and offset is governed by several factors in a print business.
It is rarely a simple choice and there are many considerations such as :-
- Economics (estimating costs of the job)
- Availability of capacity and workload
- Delivery requirements
- Binding and finishing requirements
- Product type and specification (special finishes etc)
- Customer preferences
There are many financial models to demonstrate the most economic method of printing within a particular run length window.
What does the future hold for Digital Printing Growth?
In the long term, it is possible that this industry’s growth will represent a temporary phase in the broader printing sector’s decline.
Commercial printers are currently trying to salvage their operations through the adoption of digital presses.
Digital printing is at the core of the Direct2Print business.
With the continued expansion of the Direct2Print online document printing service the potential long term prospects are very good.
Started in 2003 the online print website is now in it’s third generation.
The more product-based digital print online website is comparatively new and concentrates on 20 of the most popular digital print products.
Digital printing is usually produced on the same day.
It is the best way of printing documents, marketing materials and business stationery to a high quality and instantly.
Hope this helps to understand Digital Printing Growth trends!