There are good reasons why digital commercial printing has proved itself to be resilient against the downward trend that analogue is experiencing to lead industry growth. Find out how digital printing can upgrade your production floor with efficiency gains so impactful they have the power to revamp your business into a versatile, high-performing powerhouse.
REAL POSSIBILITIES, NOW
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Pursue your future-proof print factory
In an era where technology and society are evolving faster than businesses can naturally adapt, the phrase “digital Darwinism” becomes more than a concept, but a concrete reality. This sets the stage for a new generation of creative business models and forward-thinking leadership that is willing to adapt to survive. Consumer behaviours evolve as a result of technology and businesses can either compete to get ahead of it or avoid it and fall behind the market’s movement.
Transforming is never easy — but the rewards that it brings are market growth, new opportunities, and scalable solutions that are more efficient than ever. Staying relevant is the key outcome for digital transformation. Read on to learn how commercial printers are transforming to stay relevant, now.
GO WHERE THERE’S REAL GROWTH
Print is declining — unless you go digital
Like many industries now, commercial printing is facing unprecedented levels of disruption. Analog has slowed beyond steady and is now declining at a rate of 2.7% per year with offline print shipments following at a projected CAGR of -6.0%. While this doesn’t mean extinction just yet, it’s a backward movement that doesn’t promise any new profits — and it’s all happening amid harsh global economic conditions. Elsewhere in commercial printing, there’s another kind of momentum gaining traction. A forward-moving, growth-oriented shift that’s charging the industry with a new world of limitless possibilities. And it’s the perfect time to take hold of it.
The Global Commercial Printing Market was valued at $US400.46 billion in 2019, and it is projected to be worth $US460.28 billion by 2025, registering a CAGR of 2.24% during the period 2020-2025. So, what’s behind this industry growth when analogue and offline are on the decline?
Digital print is driving growth with its unique ability to respond to rising customer demands and optimise operations. Its upward progression stands at a CAGR of 5.5% since 2014 amid analogue’s decrease of 2.7% YOY over the same five-year stretch. With forecasts of digital becoming 30% of total market revenue by 2026, it’s easy to see where there are real growth opportunities available for the taking.
Capturing this growth rests on the ability to quickly react and sell to a changing market, improve operational agility and provide a faster time-to-market.
But how can digitising your production line keep you competitive and profitable in an unpredictable economy?
DIVERSIFICATION IS THE NEW INNOVATION
Strategic transformation for commercial printers
Digital printing technologies have levelled the playing field and are democratising and breaking down the barriers that once existed between various types of printing operations and market segments. As a result, markets are converging, enabling all types of printers to acquire relatively lower cost digital output devices and finishing equipment to offer services and products well beyond their traditional scope — a phenomenon that goes beyond diversification to convergence.
Instead of abandoning existing offerings altogether, businesses are evolving to favour the multi-faceted. Once only-print service providers are now managing order handling, printing production, shipping and various marketing services. The growth of web-to-print, or print e-commerce, has made adding these services simpler and more cost-effective — even allowing printers to seamlessly fulfil B2C and B2B jobs. To be able to take hold of these opportunities quickly and efficiently, printers need the flexibility and agility that only digital can provide. But that doesn’t mean printers need to abandon their offset presses altogether.
The speed, automation, and overall efficiency benefits that digital provides can work in perfect harmony with existing offset presses. Digital and offset can be paired to create a strategic alliance that optimises the production floor — a way to bring out the best of both presses.
Transform to take on the possibilities of tomorrow
We are doing business in a world of digital Darwinism — but opportunities are available for those who are willing to transform to keep up. In an economy that’s fast changing and full of surprises, being flexible and agile in order to respond to new and vastly varied demands is the new standard in commercial printing.
With newly risen desires predicted to sustain their growth for years to come, capturing the opportunities that are trending today is safeguarding success for tomorrow. Take hold of a universe full of new opportunities. Digital is your driving force.
It’s time to get moving! Learn how we’re helping printers like you recover, retool, and capture real possibilities right now. Download the ebook to learn more.
This article was sponsored by HP
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