The printing industry has been in existence for nearly 600 years now, with the invention of the first printing press by Johannes Gutenberg in 1440. Ever since then, the commercial printing industry has advanced with leaps and bounds thanks to the rapid development in mass-scale printing technology.
Despite the advent of the digital world, the conventional printing industry is still growing significantly and is more popular than ever, according to the latest commercial printing market news.
Check out some of the more interesting statistics about the global commercial print industry in 2020:
- The US has over 25,000 companies that specialize in commercial printing
- The annual revenue of the global commercial printing industry is over US$ 900 billion
- Overall, around 72% of business enterprises around the world use direct mail campaigns which utilize conventional printing technology
- Since 2015, the technological efficiency of the commercial printing industry has increased by an impressive 20%
Top trends to look out for in the commercial printing market in 2020
Irrespective of how frequently you see the use of digital marketing today, the conventional commercial print industry is expanding steadily. Check out the top advertising trends you can expect to see in the coming months in the global printing industry, according to several commercial printing market news:
1 – Conventional advertising demand is increasing worldwide
The global advertising industry is experiencing an unprecedented rise in demand in 2020. The advances in printing technology are the main factor for driving the market forward. Enterprises are steadily shifting to commercial printers to make their printing processes more cost-friendly through bulk printing.
2 – Soft signage is becoming more popular
Soft signage is gaining impressive popularity at a steady rate in the international market. Be it 5m wide or smaller prints, the signs are focusing on being direct to the point, and more banners can be expected in the coming months of this year.
3 – Global commercial printing industry is moving forward technologically
According to the latest commercial printing market news, Canon Solutions America recently partnered with DGI USA, which is a leading manufacturer of dye sublimation. The partnership is focused on providing solutions that integrate the best features of the highly productive DGI printers with Canon’s strong service and marketing experience.
The all-new DGI FH-3204, DGI POSEIDON, and the DGI FT-3204X are expected to improve commercial printing solutions and expanding the soft signage segment significantly. Such similar collaborations are helping to retain the demand for the conventional commercial print advertising industry, resulting in the retention of the market for commercial printing in 2020.
4 – Printing industry is ready to cater to the rising demand for eco-friendly commercial printing solutions
In addition, leading fashion brands, such as Oysho, ZARA, etc., as well as 1,300 popular retail brands, have shown an increasing demand for eco-friendly print advertisement solutions from the past 13 years. The plan to integrate eco-friendly store models by 2020 is almost accomplished, which has resulted in a boost for the global conventional print advertising industry.
Asia-Pacific Regions are dominating global commercial printing market
The increasing demand for new printing technologies, the immense growth of e-commerce, steady urbanization and changing lifestyles in China, India, Vietnam, Thailand, and other Asian-Pacific regions has resulted in capturing the lion’s share from the global commercial print marketing industry.
Let’s take a look at some of the major statistics that prove the growth of the printing market in the Asia-Pacific regions, which could mean a boost for the printing solution providers in the US:
1 – India to be the 5th-largest print market consumer by 2025
A report by the Confederation of Indian Industry (CII) anticipates that India will become the fifth-largest consumer market for commercial print marketing solutions within the next 5 years. A joint study by ASSOCHAM-EY also shows that the print & packaging industry in India is showing signs of growing to US$ 72.6 billion by the end of 2020, with a CAGR of 18%.
In addition, the All India Federation of Master Printers (AIFMP) concluded that India currently has over 250,000 MSMEs and large-scale printing companies. The AIFMP report also predicted that the commercial printing industry in India is showing an annual growth rate of around 10%.
2 – There is an increasing demand for innovative inkjet printing technology in Japan
In November 2019, Fujima Holdings Corporation, based out of Tokyo and specializing in imaging, photography, printing, and biotechnology, launched the much-anticipated Samba JPC. This innovative component for inkjet printers integrates software and core parts that are needed for developing single-pass printing devices commonly used in commercial and packaging printing solutions. The technology has become extremely popular in the commercial printing segment.
3 – China is steadily becoming a major consumer of print services
The boost in wages and rising standard of living are considered to be the major factors for the increasing demand for print services in China. Around half of China’s printing sales come from packaging, while publishing accounts for around 30% of sales.