Where is Print Headed in the Next 5 Years?
With the digital world raging on, many people still wonder if the printing market is still relevant and what the future holds for the industry. We are happy to announce that print is not going anywhere with a Compound Annual Growth Rate of 24% by 2026 based on a study by Report Linker in January.
Technology is growing like never before with high demand globally. In doing so, there is also a need for short-run applications like books, direct mail, brochures, catalogs, and more for growing businesses. For example, it is estimated that 72% of corporations will utilize direct mail as it is a great way to get their message to the masses while also being relatively inexpensive. This aspect of printing is only projected to continue upward each year.
A recent Adobe poll of 1,250 U.S. consumers showcases the ongoing problem with online and digital promotions as their failure to capture the consumers’ attention, whereas print-based ads are increasing with consumers’ attention, therefore, having a better return on investment for businesses. This is showing an increase in demand for promotional materials for retail, food, and beverage industries, making print a key element in their overall marketing strategy.
In 2020, the demand for commercial printing dropped with the global impact of COVID-19. According to a report released by Heidelberg, print production in China fell by up to 80% compared to normal volumes but started to recover as cases tapered off and the curve fell back down to normal levels. We are beginning to see similar trends here in the United States.
Key market trends are seeing a growing need for print advertising around the world for organizations. There is an increasing need for commercial printers as they are the most cost-effective and efficient when it comes to bulk printing. Soft signage is also gaining speed like banners and large format signs at 15ft wide or less to gain potential the consumer’s eye.
If your business is in need to revolutionize your brand with the value of print marketing then Image Cube is your go-to partner. Connect with us to learn how we can grow your business with our multiple print services and options.