PRIMIR, Print Industries Market Information and Research Organization, the research unit of NPES, announces completion of a new research study, “Wide Format Inkjet Printing Trends and Opportunities.” The research, which was conducted by IDC, included interviews with wide format printer manufacturers, distributors and industry experts along with surveys of wide format PSPs, marketers and retailers.
As the wide format inkjet printing market continues to evolve, new growth opportunities emerge for both print service providers (PSPs) and manufacturers. This extensive PRIMIR study examines trends and opportunities within the North American wide format inkjet printing market, valued at over $20.3 billion in 2014 and projected to grow to $24.4 billion in 2018.
The study found that growth in wide format inkjet printing is contingent on two major factors: the conversion of traditionally analog printed display graphics into digitally printed display graphics (typically inkjet), and the development of new applications enabled by innovative ink and media that can be digitally printed.
According to the report, the top three applications that buyers reported purchasing are banners, posters, and signs. By comparison, wide format PSPs indicated that their top five most commonly produced products are banners, signs, posters, photography, and presentation graphics. However, mainstream applications such as posters, billboards, banners, and signs are becoming commoditized with the continued growth of wide format display graphics businesses and increased competition. As a result PSPs are looking for new, more profitable applications, and innovations that drive down the cost of production. Newer technologies, such as Latex, UV-curable, and dye-sublimation inkjet, all are growing as wide format PSPs seek new markets and the ability to produce at faster speeds.
Versioning and micro marketing is one of the bigger trends in the market place—there is an increasing number of display graphics, but fewer of them contain the exact same message. This plays directly into the strengths of digital wide format inkjet printing.
In addition, according to the PRIMIR study findings, more than 40% of print buyers have used a QR code or some other interactive media element in their printed display graphics. And a large majority of those buyers reportedly plan to continue using these types of interactive elements.
The wide format inkjet printing market remains a growth business, but it is challenged by pricing pressures, buyers’ quality and speed demands, and the emergence of competitive digital displays and mobile advertising. To successfully compete, all of the market players must follow the digital display market and be willing to adapt by developing new partnerships, opening new markets, and developing new higher profit applications.
This 175-page research study, “Wide Format Inkjet Printing Trends & Opportunities,” was recently distributed to all PRIMIR members, along with an informative study overview video that can be accessed at: https://www.youtube.com/watch?v=G9oJaA1YlDs.