Industry leaders bet on digital print and Drupa for 2024
Volatility is set to resurface and remains a concern for investment. Some manufacturers bet on educating the customers, others bet on smart growth; while most bet on Drupa and digital print.
10 Jan 2024 | By Noel D'Cunha
Ranesh Bajaj of Vinsak said, ""We always strive to educate our customers about the total cost of ownership (TCO) so that they can make informed decisions. With interest rates becoming softer, it is important to understand the TCO for a machine and have an accurate costing sheet for your products." Bajaj explained "In most cases, capital equipment only accounts for 5 to 7% of the product cost, while poor-quality equipment can result in material wastages of 10% or even higher. Regular upgrading of machines and equipment is crucial for maintaining production efficiencies."
P Sajith of Bindwel Technologies said, "What we need to drive is smart growth. We must focus on investing in technology rather than expensive land and fancy factory construction, as it brings the lowest returns to one's business. This is especially true from an Indian perspective." Sajith added, "By investing in digital technology, businesses can expand their customer contact points. For printers, a hub and spoke model could be the best approach to go national."
Vinay Kaushal of Provin Technos said, "While digital growth is taking place, a major shift is some distance away due to the present viability of print. What we are seeing is the opening of new segments of printing due to the cost-effectiveness of digital printing. Plus the viability of digital print for a certain number of copies.
Aditya Surana of Indo Polygraph Machinery said, "From a customer perspective, the choice between digital printing and offset hinges on their target market segment. Digital print provides unmatched flexibility and convenience, appealing to those prioritising quick turnarounds. However, the superior offset quality remains a decisive factor for discerning customers. Aditya Surana said, "The decision-making underscores the importance of understanding and catering to diverse customer needs, allowing companies to tailor their offerings based on the specific requirements and preferences within different market segments."
C Sukumaran of Canon concurred. He said, "With the rise of digital printing and fast-paced technological advancements, print and packaging companies are ready to adjust their investment strategies to keep up with the changing trends."
Volatility is set to resurface and remains a concern for investment. Therefore most manufacturers are betting on Drupa.
Sheena Parikh, joint managing director, TechNova is of the opinion that Drupa 2024 is poised to make significant changes to the printing and packaging industry through new technological advancements. “Digital technologies will play a significant role in commercial printing, publishing, and label production, with the global digital printing industry expected to increase significantly.”
Parikh added, “Commercial offset printers will become hybrid printers by adopting flexo and digital technologies, aligning their investments accordingly.”
Venugopal Menon of Bobst said, "Today’s world is fluid, volatile and uncertain and companies need to adapt fast with appropriate technologies and tools to cater to the demand of the consumer and brand owners. Shows like Drupa are for end-users like our customers to see where the future is leading and what they can expect from technology providers in the mid- to long-term and be prepared to plan their capex and investment plan in the coming years."
C Sukumaran of Canon said, "With Drupa 2024 looming on the horizon as a pivotal event showcasing trends, companies are likely to recalibrate their strategies to align with innovations that tap into rising demands."
Ajay A Nayak of cagreed. He said, "A visit to Drupa 2024 would include devising an action plan for tweaking the investment or enhancing the selection and relevance of capital investment. All reputed brands display their new launches. Today, everyone is in favour of smart digitalisation, simple functionality and delivery at lightning speed."
Parmeshwar Patidar of Indas Analytics said, "Drupa 2024 will trigger investment tweaks in printing and packaging. Companies will prioritise digital upgrades and sustainable practices to stay competitive. Expect strategic shifts towards automation, AI, and cloud platforms to optimise workflows and maximise ROI." Parmeshwar Patidar said, "The Drupa show will be a crucial platform for evaluating solutions and shaping future investments."
Sudeep Bhattacharjee of Manroland Goss signed off by saying, "The industry has adopted a wait-and-watch approach and wants to make an informed decision around Drupa. If everything remains fine, major developments are expected after Drupa 2024."