The decade between 2014-2024 will see the global print market shrink in volume but grow in value according to Smithers Pira’s market report ‘The Future of Digital vs Offset Printing to 2024’.
In value terms, print output is expected to grow from $808.3bn in 2019 to $862.7bn in 2024 - a CAGR of 1.3% - with digital print, and especially inkjet, becoming an increasingly important and valuable part of the overall print market. Accounting for 13.5% of total market output in 2014, this has risen to 17.4% in 2019.
Smithers Pira said technical innovations and a shift in market demands will further support this trend through to 2024, pushing digital’s share to 21.1% as it colonises new spaces in key markets, increases its competitiveness at longer run lengths via new generation of high throughput machinery, and offers new revenue streams for print service providers.
The key drivers affecting demand for offset litho and digital are highlighted below, the impact of which is covered in detail in the report, which costs £4,750:
- Rising global consumption through a combination of population growth, increased urbanisation and the rise of a global middle class with discretionary spending power
- Fundamental changes in the way consumers and businesses disseminate and access information
- Increasingly agile supply chains with on-demand and just-in-time models adopted across print markets
- Consumers, businesses, brands and governments demand products and production technologies with improved sustainability and environmental profiles
- Growing use of artificial intelligence, big data, Internet of Things and other Industry 4.0 technologies to enhance the productivity of print processes.