- The printing industry is the sector that deals with the production of printed materials. Digital printing systems are cutting-edge printing technology that prints electronic files created using computer software. Digital printing transfers pictures to different media surfaces such as paper, cloth, and ceramic utilizing digital formats such as PDF and JIP. The end-use manufacturer may expedite the digital printing technology's image design and production process.
- According to Euromonitor, India has the fifth-highest printing industry turnover in the Asia Pacific. Since exports made up 5.4% of total manufacturing output in FY20, the printing sector is mostly dependent on growth in local demand. In terms of export share, India comes in third in the Asia Pacific area. In FY20, industry expenses dropped by 10.2%. Costs incurred in B2B transactions, which made up 73% of all industry spending in FY20, had a significant influence on the change. The industry's productivity fell over the year as a result of a 9.4% decrease in turnover per employee in Fy20, which outpaced the increase in labor costs.
Covid-19 Impact on Indian Printer Industry:
- The COVID-19 pandemic is anticipated to have completely subsided by FY22, and the industry's turnover is anticipated the rank will drop by FY25. The sector's production value is anticipated to increase between FY20 and FY25 at a CAGR of 5.6%.
Growth Drivers in Printing Industry:
- An increase in the use of highly customized labels- The implementation of digital printing has become critical as big consumer-oriented manufacturers steadily migrate to customized packaging to improve shelf visibility and, as a result, attract customers. Digital prints wrapped over the glass fronts of office buildings and large digitally printed banners draped along the sides of buildings are in high demand.
- Innovation and Digitalization: Innovations and digital integration are aligned as significant drivers, as market players take advantage of replacing toner in less than 20 seconds, loading paper less frequently, hands-free voice-activated printing, and reducing common printing interruptions. Mobile scanning, Ethernet, and Wi-Fi Direct are all available on business-oriented printers, which also support printing from an iPad, iPhone, Android tablet, or smartphone.
Market Trend in Printing Industry:
- Touchless solutions: We must avoid coming into contact with their production process, supply chain, and service delivery because we are all aware of the coronavirus's capacity for rapid transmission. As a result, OEMs began producing printers that include touchless components like ID cards, RFID tags, or smart barcodes for touchless automation. In the coming years, we anticipate that touchless gadgets will become increasingly crucial in the new global order.
- Cloud printing: Although cloud printing was nothing new, the epidemic has made it quite evident that it will be the way printing is done in the future. The ground-breaking technology makes printing simpler and significantly lowers the total cost of ownership. By implementing QR/ Barcoding, businesses are moving toward more automated and predictive solutions to increase efficiency across the whole product production process, including automation in the supply chain management of a large number of printed documents. Additionally, printed materials are becoming more customized, and printing with changeable data is becoming common.
- Canon, HP, Richo, and Konica Minolta are the peers of the company.