3D Printing
3D printers are the latest technology printing machines. While the two industries are not in direct competition with each other, 3D printing creates opportunities for printing industry hopefuls to capture a new market corner and expand their product offering. 3D printing has already made its way into the medical industry as well as the manufacturing industry. Printing industry statistics indicate that the 3D printing market size is expected to grow by nearly 25% by 2029, reaching an estimated value of 83.90 billion dollars.
Digital printing
Digital printing is quickly outpacing analog, however, it’s not totally replacing it. Analog printing is expected to have a growth rate of 0.8% by 2027. In comparison, the digital printing market is expected to grow by 5.7% and reach an estimated value of 189.8 billion by 2027. Digital printing quality is growing as well and can now break into the textile printing industry.
Gen Z joins the Workforce
Gen Z is growing up and in need of employment. As many baby boomers retire and are replaced by the younger generation, new management strategies will unfold to accommodate Gen Z as they join the dominant working generations. A 2022 study by Deloitte found that Gen Z employees are most concerned about the cost of living, closely followed by climate change, unemployment, mental health, and sexual harassment. The study also noted that Gen Z employees push their employers to address climate impact as well as work-life balance.
Printing House consolidation
Industry consolidation is common, especially as many in the economy look ahead at the warning signs of a recession. Many commercial printers are expanding their offerings in an attempt to expand their customer bases and break into more profitable market segments such as packaging and label-printing.
Special effects and finishings
Speciality papers and finishes are gaining popularity in printing industry trends due to the elegance and elevated appearance of the final product. Speciality products like this are especially popular for weddings or galas to communicate the importance of the event. In-person celebrations are back on the rise after COVID, and it’s predicted that physical prints such as invitations are also expected to return.
Print On Demand
Print-on-demand is one of the latest and fastest-growing digital printing trends. A collection of print-on-demand industry statistics predicts that the POD industry will reach $39.87 billion by 2030. In 2021, it was valued at 4.91 billion dollars. That is indicative of explosive growth. Print-on-demand is ideal for short runs of prints. It is also ideal for truly one-of-a-kind products. Market analysis for printing businesses has found that e-commerce has significantly impacted the growth of print-on-demand as well as web-to-print services.
Augmented Reality
Augmented Reality may be making a big appearance in 2023, not just in digital content, but in physical print. Augmented Reality is already present in many digital print options. This technology powers exceptional product personalization by allowing the customer to visualize exactly what their finished product will look like in real life. However, AR can also be used to add digital content, such as videos and interactive features, to print pieces. A QR code could lead consumers to additional product information, links to purchase, or informative videos.
Web-to-print
With web-to-print systems, consumers can access an online storefront provided by a printing company. Through the interface, customers can select products, customize them, and then ship them anywhere. Web to print is anticipated to grow market share by over 5% by 2028.
Product Personalization
Product personalization continues to reign supreme in the printing industry. The latest trends in printing technology have made it quick, easy, and enjoyable to design custom products and ship them to your home or business.
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