Digitalisation spurring digital printing demand, reveals study

According to a recent report on the photo printing and merchandise market, conducted by Future Market Insights, the USD 16.9-billion photo printing and merchandise market is expected to register a CAGR of 2.6% through the forecast period between 2018 and 2028. Emergence of 3D printing technology and elevating use of smartphone applications, will, however manage to sustain the market growth at a passive pace, through 2028.

24 May 2019 | By Dibyajyoti Sarma

The latest trends in the photo printing and merchandise market include eCommerce companies focusing on offering online photo printing services and a majority of manufacturers focusing on introducing photo printing kiosk with enhanced connectivity features.

While these trends are likely to uplift the market scenario slightly, the overall growth of the photo printing and merchandise market will reportedly remain sluggish throughout the projection period.

Photo printing currently accounts for a major share of the total market revenue, owing to continued popularity of printed photographs among consumers. However, it is most likely that the photo printing segment will lose its market share to merchandise printing, predominantly attributed to bolstering demand for merchandise printing products such as mugs, pillows, cushions, photo books, and others.

By the end of 2028, the revenue contribution through merchandise printing to the global photo printing and merchandise market value is anticipated to reach around 25%. The report projects merchandise segment to witness a steady CAGR of 4.4% over 2018-2028.

Furthermore, digital printing is expected to take over the film printing module, whereas mobile printing mode is foreseen to win a major market share over desktop printing.

The market progression in this direction has been attributed to rapid digitalisation that has been evidently impacting the industries worldwide, since the past decade. Regional analysis of the global photo printing and merchandise market reveals continued dominance of North America with more than 27% share of the market value. Decent growth prospects have been estimated for the market in North America and Western Europe.

As indicated by the competition landscape assessment provided in the report, the tier-one companies currently account for a majority revenue share of around 45%, followed by the share of around 40% contributed by tier-three companies participating in the global market for photo printing and merchandise. The tier-two players are responsible for generating nearly 15% share of the total market revenue. Key players are increasingly focusing on the growing demand for merchandise products and innovation in the photo printing technology.

The report highlights a few key developments in the market, including a recent launch of a process-free technology portfolio by Kodak, the Sonora UV process-free plate. This plate is capable of delivering longer run lengths (up to 30,000 impressions) compared to any other process-free plate, and offers a range of benefits of UV technology, flexibility, high print quality, and faster drying times. With this technology, the company has introduced a range of new applications, delivering more efficient, faster, and more sustainable results.

For details on the report, visit Future Market Insights.