Despite our reliance on digital devices and the data they contain, production print does not appear to be going anywhere. In fact, according to research from Markets and Markets, the production print marketplace looks to be preparing for a massive boom by 2022. So, if you are in the production print industry, now is not the time to slow down.
The Market
Production printing, the cost-effective method for rapidly printing high volumes of high-quality documents, is as relevant as ever and the demand is not ceasing. Production printing has transformed the market with it comes to the production of documents like bills, statements, checks, invoices, and the like. Not only has demand risen over the past few years, forecasts predict that growth will continue particularly in the media, advertising, transactional, and publishing sectors.
The Numbers
According to the experts at Markets and Markets, by the end of 2022, the global shipment of production printers is expected to be more than 75,000 units worldwide. With a compound annual growth rate of 5.5 percent, the global market is projected to reach more than $7.7 billion US by the end of that year. (Markets and Markets). Key factors driving this growth include increased demand from media and advertising and continued adoption in the publishing sector.
The Technology
Developments and breakthrough product launches have continued to drive the market for this technology. And, the need for inkjet-based production printers is anticipated to grow simultaneously, due it the ability to provide exceptional quality at rapid speeds. Once only used for transactional printing, inkjet printers are now replacing offset print in many cases due to the increased demand for reliability, efficiency, and cost-effectiveness.
So, the combination of technological developments and increased adoption by new market sectors combine to prove that production print is here to stay and will continue to flourish over the next five to 10 years. Whether you need a production printer to meet rapid demands or an MFP for everyday business operations, we have a device to meet every need. Contact us today with any questions.