MRO Magazine

Rise in Sales of Physical Books to Drive the Global Production Printer Market 2020, Says Technavio


July 5, 2016
By Business Wire News

LONDON

According to the latest market study released by Technavio, the global production printer marketis expected to generate approximately USD 5.3 billion by 2020.

This research report titled ‘Global Production Printer Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes an up to date analysis and forecasts for various market segments and all geographical regions.

Request sample report: http://goo.gl/6UvOme

The report categorizes the global production printer market into five major segments based on application. They are:

  • Transactional printing
  • Promotional printing
  • Publishing
  • Packaging
  • Others

Transactional Printing

The market share of transactional printing is expected to decline from approximately 36% to 28% during the period 2015-2020. Transactional documents are legally relevant documents of companies, which include bills, bank statements, invoices, notices, and insurance policies. These documents are created by organizations and are delivered to the customers (clients).

According to Sunil Kumar Singh, a lead analyst at Technavio for computing devices research, “The market share of transactional printing is decreasing because an increasing volume of transactional documents is shifting online.” Consumers prefer to go digital for bill payments or to view bank statements. In 2015, digital mailbox providers delivered close to 2 billion paperless transactional documents to US consumers. Moreover, it costs organizations approximately USD 0.80 to physically print a mail as compared to USD 0.23 for the same statement to be delivered via a digital mailbox service.

Promotional Printing

Promotional print documents include brochures, calendars, catalogs, fliers, pamphlets, and postcards. These documents are used by organizations to promote their products and services, and to effectively deliver their messages to potential customers. Promotional documents are still preferred over digital advertising because the response rate of print media is more than that of digital media. Therefore, organizations are using a mix of both print and digital media for advertisement. As a result, the drop in the market share of this segment is less than the drop in the transactional printing segment.

“Customers believe that in order to have high-quality printouts, it’s necessary to have a high-quality printer. Therefore, in order to produce high quality promotional print documents, organizations are investing in production printers, which augurs well for the growth of the market,” says Sunil.

Publishing

Publishing includes different types of book publications, such as educational books, photographic books, professional books, and trade books. In 2014, the sales of physical books were up by 2.6% as compared to 2013. In 2015, the sales further increased by 2.9%, marking an annual increase for the second consecutive year. Shorter run length, rise in customization, and increase in the average length of the books will accelerate the demand for digital production printers in this application segment.

Packaging

Print packaging is on the rise, as several companies are focusing on specialized printed packaging as a promotional tool and a means of brand recognition. In September 2014, Coca Cola released contoured Coca-Cola bottles with unique packaging labels with the help of HP Indigo digital printing technology. These unique packaging bottles were released as part of the launch of the IT’S MINE campaign. Labels held the majority of the shares in the print packaging segment in 2015. However, corrugated packaging is expected to present high growth opportunity for the market during the forecast period.

Others

Other applications include the printing of general office documents such as business cards, forums, letterheads, proposals, reports, and security prints. The market share of this segment is very less as compared to other application segments in the market. However, the revenue contribution of this segment is expected to increase during the forecast period. This is because general office documents are still preferred in print format over digital media. As these documents are required in lesser volume, the evolution of digital printing has made the printing of these documents cost-effective.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • Xerox
  • HP
  • Ricoh
  • Konica Minolta
  • Canon

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com