Originally published on Technavio:Commercial Printing Market Analysis 2023-2027: Growth Drivers, Trends, and Regional Insights
Overview:
The Commercial Printing Market is poised to witness significant growth, with an estimated increase of USD 49.89 billion at a Compound Annual Growth Rate (CAGR) of 2.49% from 2022 to 2027. The market's growth is driven by various factors, including the rising sales of paperback books, the global expansion of the packaging industry, and the adoption of eco-friendly practices.
Market Dynamics:
Key Drivers, Trends, Challenges, and Customer Landscape have been scrutinized, considering 2022 as the base year. A comprehensive analysis of drivers assists companies in refining marketing strategies for a competitive edge.
Key Driver:
The steady increase in paperback book sales stands out as a crucial growth driver. Despite challenges like overcapacity and pricing pressures, the market benefits from the resurgence of paperback books. The popularity of physical books has witnessed a rebound since 2016, with a preference for affordable physical copies over e-books, contributing positively to the commercial printing market.
Significant Trend:
Vendor consolidation is a noteworthy trend shaping market dynamics. Vendors are keen on consolidating their businesses, expanding services into media, digital technology, managed services, and logistics. Forward integration strategies, such as logistics expansion by companies like LSC Communications, indicate a move towards an end-to-end print product and services market, fostering growth and trends.
Major Challenge:
Overcapacity and price pressure pose significant challenges to market growth. The highly competitive and fragmented market experiences a decline in output, leading to overcapacity and downward pricing pressure. Vendors are focusing on consolidating through acquisitions to eliminate excess capacity, driving overall cost reduction during the forecast period.
Key Customer Landscape:
The market trends and analysis encompass the adoption lifecycle, spanning innovators to laggards, with a focus on adoption rates in different regions based on penetration. The report also includes key purchase criteria and drivers of price sensitivity, aiding companies in evaluating and developing growth strategies.
Major Market Companies:
Companies employ diverse strategies, including strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to fortify their market presence.
ACME Printing: Renowned for offering commercial printing services, including digital and offset printing.
Market Segmentation:
The print services segment is expected to witness substantial growth during the forecast period. This segment encompasses a wide range of products such as stationery, brochures, books, magazines, labels, envelopes, and flyers. These products serve as effective tools for customer attraction and retention, contributing to increased market growth.
Regional Analysis:
Asia-Pacific (APAC) is anticipated to contribute 54% to the global market growth during the forecast period. Regional trends and drivers are influenced by factors such as low literacy rates, government initiatives promoting education, and the significant presence of e-readers and mobile operators. Although government initiatives focus on digital content, the demand for commercial printing in the region remains influenced by various factors.
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The market caters to enterprises seeking advertising materials and marketing tools, utilizing technological advancements to enhance production capabilities. Diverse printing techniques ensure cost-effectiveness and efficiency, especially for bulk printing needs. Customization and personalization, facilitated by digital printing solutions, meet consumer preferences for tailored designs. The market continues to evolve to meet diverse advertising and promotional needs across industries.
The market research and growth report forecast revenue growth at global, regional, and country levels, providing an analysis of trends and growth opportunities from 2017 to 2027.
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