Insights and Key Learnings Extracted From the Report
From the survey’s analysis, seven insights emerged.
Insight 1: The virus has a significant impact on the economy and the prospects for print’s post-COVID-19 future. Brands feel the pressure, and many do not plan to increase their print budgets next year.
Insight 2: Printers plan to invest in new print applications, but these plans have not yet converted into action. Many are waiting until the future is clearer. Growth opportunities under consideration are security printing and commercial printing.
Insight 3: The drive for sustainability is conflicted. Printers’ investment is constrained by a perception of higher costs. But most brands plan to invest more in print sustainability. Printers will have to invest to meet brands’ shifting demands.
Insight 4: The print market needs equipment financing. Less than half of printers say OEMs provide funding access for new machinery and solutions. This may not be sufficient as printers say their top concern is a lack of financing availability.
Insight 5: Brands favor print’s value despite trends toward digitisation. A key insight here is that brands believe that the printing of essential documents will actually increase in the future.
Insight 6: Print’s value-add solutions are enabling the analog-to-digital print transformation. Cloud-enabled digital services are improving workflow and automation is reducing labor cost.
Insight 7: There is continued growth in digitally-printed packaging. Ecommerce and the home delivery sector are experiencing tremendous growth as remote work continues as the new norm.