Digital print to rise by 65%: Smithers
Package printing, commercial printing, and book printing will drive a 65 per cent upswing in digital print over the next decade, according to industry research agency Smithers.
It says the highest growth will be in digital packaging print, which it predicts will increases from US$6.3bn in 2019 to $32.5bn in 2029, a huge increase of 420 per cent over the decade.
Vistors to drupa next year will see a large number of new digital packaging printing solutions, including those already on the market from the likes of EFI, HP and Heidelberg. Other major names are set to launch systems at the show, including the KBA/Durst joint venture; Screen with BHA; Canon; and Landa; as they vie for a share of what they believe will be a booming market.
Smithers says that the global spend on all digital printing will rise from US$139bn this year to $US230bn in 2029, in its new report titled The Future of Digital Print: Long-Term Strategic Forecasts to 2029, which predicts digital will produce the equivalent of three trillion pages a year in ten years' time.
The report says the growth in digital print between 2019 and 2029 is predominantly based on increased demand in books, advertising, commercial print, labels and packaging,
Smithers says the strong growth in digital will come in a rapidly evolving print landscape, saying “By 2029, print industries will change significantly as a result of economic, technological, demographic, ecological, and behavioural factors.”
It says the move to publish online rather than conventional print will benefit digital printing, stating that, “The current shift from physical print to online in publication, advertising, and transactional print sectors is resulting in lower print volumes and an increased consumer expectation for content (online or printed) to be more tailored to their interests, which supports digital printing,
“E-commerce and m-commerce (mobile commerce) sales are increasing, disrupting traditional retail and enabling more efficient supply chains. In this area, the ability to produce goods or packaging on demand exists and will grow using digital printing.
“In packaging, brand owners are looking for innovations to support a switch to more sustainable packaging while seeking new ways to use printed packaging to engage consumers (including versioning, personalization of packaging design, and using time-sensitive event-related packaging). These factors together support increased demand for cost-effective, short-run print and digital print processes.”
It says, “New digital equipment and consumable sales will grow, reflecting the cost-effectiveness of inkjet and electrophotography for short to medium runs. The new capabilities in digital printing will enable print suppliers to offer customers greater agility while a number of societal trends will fuel overall digital print growth.”
The Future of Digital Print: Long-Term Forecasts to 2029 is available from smithers.com for a tidy US$6500.