People have been asking the question, “Is the printing industry in decline?” for the past few years. The printing industry is surely shrinking. A decade ago, there was a growth in the printing industry not because the existing ones added to their capacity, it was due to newer entrants adding new technology and being competitive. The transformation wave is hitting all markets globally. An example of the transformation is how people use taxi services rather than buy a car, order online instead of going to the restaurant, and the millennials go for start-ups rather than look for a job. Online shopping has revolutionised the way retail businesses are conducted.
While business is growing, many are downsizing or shutting shop. Likewise in the printing industry, companies that have become customer oriented and kept brace with technology have flourished. Examples of these are Netpak custom packaging, US propack, Sig etc. We cannot be certain of what effects a particular transformation would have on the industry but studying the trends will make us better prepared to be competitive.
People are adopting modern techniques and capabilities in the printing industries to stay ahead of the competition. Here are few of the trends ruling the printing industry currently
Technology is the most effective factor. Even the leaders are adapting to newer methods to be quicker, more adaptive and cost effective. Technology not only in machinery and process, but also in services.
Security in printing
Security priming is key to protecting the client’s interest and retaining your customer. No client would like to lose out to a competitor because his security was at risk.
Inkjets solutions serves the commercial, packaging and label industry as well. These are cost effective, delivers speed and quality that the markets needs to capitalise on this expanding trend.
Digital printing technology is adaptation to digitisation where the printing company dovetails with the clients store digital data, enabling cost effective and prompt service. Digitisation is here to stay and suffice it to say that one who does not keep up will be left behind.
The customisation trend has hit the market and is here to stay. More and more customers are seeking to make their own designs in printing and packaging, prompting printers to go for technologies which can adapt to this demand. The printers would focus on higher and faster quality printing while adapting to customers designs.
Artificial Intelligence has made inroads in several industries. Already HP and Xerox have included AI into their scheme. .Soon enough, this will be the norm rather than the exception.
The other trending factors are transformation of designs; cloud MPS, Printing inside the box, and Pay-as-go model.
These emerging trends indicate clearly where the printing industry is heading.