During the beginning of the year 2018, corporations had started to invest big time in new trends in the printing industry as they were trying to make everything automated.
Usually, a printing machine helps to curb the level of human errors in an organization. Printing machines have started to use Artificial Intelligence which has added more charm to the whole endeavor.
What will be the future growth of the print industry?
During the first quarter of the last year, the printing industry had witnessed an additional growth rate of 2.3%. This meant that more and more companies had shown their interests in full automation of their industries.
Last year analysts had undergone a thorough survey about the potential of printers in the manufacturing industry and they had found staggering results. The survey was conducted on more than 200 suppliers supplied equipment to various organizations.
According to the survey, more than 56% of suppliers wanted to switch to automated printing machines.
Most of the suppliers who were a part of the survey used to deal in inkjet printers which were high in demand as they were very effective and provided excellent results. The inkjet printers are also known to imprint images on different substrates and materials in an efficient manner. This is the main reason why they are used in every other industry.
Since inkjet printers have low operating costs thus they are also used to an extensively in packaging, mailing, labeling and in 3D printing endeavors.
In recent years, printers have become an integral part of the manufacturing industry as they help to complete a given task within a provided time frame. 3D printing is the latest trends in the printing industry. This feature helps a company to provide products quickly to their customers.
Opportunity in manufacturing and textile
Around 64% of the manufacturing firms believe that printers will play an effective role in their operations till 2025. The need for a printing device is also high as most of the online businesses require having a physical signature and paper receipt from the product suppliers.
Analysts have further stated that inkjet printers will also be used extensively in the textile printing industry till 2023.
Last year the printing market of the textile industry had doubled than what it was in 2013. In the year 2018, the textile industry had done a total business of around $1.88 billion.
According to the reports made by expert analysts, the printing process will bloom all-time high and people who are in touch with the textile industry will get high revenue. Professionals have used for more than 100 data tables with the help of which they had reached the conclusion.
Printing in decorative media
The business of decorative printing also holds wide prospect as it had done a business of $16.6 billion all over the world in 2018. The experts have revealed the fact that the CAGR suggests the value of decorative printing is set to increase by 4.0% until the year 2023. Companies which are related to this business usually employ digital printers and toners which help them to get excellent image quality for their prints.
Most of the analysts are eyeing on the thermal printing industry as it is the most promising one. By the year 2023, the thermal printing industry is expected to reach around $45.4 billion.
Future trends in the printing industry
In a recent industry, around 67% of businesses around the globe believe that by the year 2025 the demand for printing machines will increase in every sector.
Last year most of the industries had witnessed the implementation of Artificial Intelligence in their printers which helped them to monitor the printing process efficiently. Furthermore, printing has also played an important role in global security.
Back in 2017, the worldwide security printing had a net worth of $27.2 billion. Analysts have speculated that by the year 2022, the security printing market will grow to around 4.8%. Till the year 2022, the security printing is expected to generate $34.3 billion.
Expert analysts have also speculated that the big shift in the security printing industry will occur as the increasing demands of the end user and the evolution of the printing technology. The security printing is expected to secure banknotes, personal id, and stamps.
Use of software
Due to the extensible use of printing in the future companies will have to develop more and more sophisticated software which will help them to work in an efficient manner. Software not only helps the company to save time but it also provides them impeccable results.
Collaboration with competitors
Analysts have speculated that instead of giving a tight competition to each other, companies in the future will join hands together to provide great products to their customers. With collaboration, companies will be able to provide better services in comparison to what they were providing individually.
Unlike the past, it is planning to include complete automation technology in the printing industry as it is less prone to errors and gives them the opportunity to monitor the end product on a regular basis.
In research, best printing machine operators are known to design the graphic in 15 minutes whereas an automated machine can complete the task within 2 minutes. Automated machines come with preinstalled algorithms which help them to handle the printing task in an efficient fashion.
Most of the companies are designing printers which have voice recognition. This step protects the misuse of the machine and will increase its overall efficiency.
Printers which are equipped with biometrics are considered very sophisticated as it is very difficult to misuse them. Voice recognition is a unique feature going to add in coming future trends in the printing industry.
Printers with multi-functions
Analysts have also predicted that in the upcoming future the market could witness a wide range of printing machines which will have a broad range of functions. This feature will help companies to provide top-notch products to the end user. These printers will also tend to predict the failure in advance and would help to curb the frequency in the downtime.