Rise in Sales of Physical Books to Drive the Global Production Printer Market 2020, Says Technavio
By Business Wire News
By Business Wire News
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.
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The report categorizes the global production printer market into five major segments based on application. They are:
- Transactional printing
- Promotional 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 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 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.
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.
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:
- Konica Minolta
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