Large Format Printing Set For Major Transformation
Large Format Printing (LFP) is undergoing a significant transformation due to evolving consumer demands, technological advancements, and environmental consciousness. These shifts present challenges and opportunities for businesses in the printing industry.
This article explores three key trends driving this transformation: diversification of services, the adoption of intelligent automation, and the emphasis on sustainability.
Diversification in Printing Services
Modern consumers are demanding more creative and tailored solutions. To remain competitive, print businesses are expanding their offerings. This is evident in the increasing importance of diversification within large format printing (LFP). According to the 2020 Widthwise survey, 40% of businesses identified diversification as a high priority. This shift can involve developing innovative products for existing clients or tapping into entirely new customer bases.
One promising avenue for diversification is interior décor, which encompasses a range of applications such as fine art prints and durable upholstery. The global digitally printed wallpaper market exemplifies this trend, with projections indicating a 23.6% annual growth rate until 2025, reaching a value of $10.4 billion.
Additionally, the rise of digital content platforms like Canva and Zazzle has influenced customer expectations. These platforms provide easy access to design tools and personalised products, compelling print businesses to offer similarly user-friendly and creative solutions. By leveraging technology to enhance customer experiences, companies can build loyalty and capture new markets.
The Role of Intelligent Automation
Speed and efficiency are becoming non-negotiable in today’s market. Customers now expect shorter turnaround times and “just-in-time” delivery for their projects. A recent research reveals that 72% of print businesses had witnessed increased demand for faster delivery, and 59% expected this trend to grow.
Intelligent automation has emerged as a critical tool for meeting these demands. Automation enables businesses to streamline workflows, reduce errors, and improve operational efficiency. For instance, systems that automate quoting, job tracking, and production processes allow companies to scale operations without proportionately increasing labour costs. Moreover, automation can improve supplier negotiations and identify cost-saving opportunities, enhancing profitability.
As businesses embrace digital platforms, automated systems also support online order management, enabling seamless interactions with customers in an increasingly digital-first economy.
Sustainability as a Business Imperative
Environmental responsibility is no longer optional for print businesses; it is a growing demand from both customers and regulators. Recent HP research found that 85% of Print Service Provider (PSP) customers now insist on sustainable practices and products. This aligns with the findings from the Widthwise study, where 81% of PSPs stated that sustainable print solutions had become significantly more critical.
The push for sustainability encompasses various aspects, including energy-efficient operations, the use of non-toxic materials, and reducing waste. Companies are exploring alternatives to PVC and similar materials, driven by commitments from prominent brands to go PVC-free. These initiatives not only cater to environmentally conscious consumers but also position businesses as socially responsible, enhancing their reputation and attracting a broader clientele.
Profitability and sustainability are increasingly interlinked. By adopting green practices, companies can differentiate themselves in a competitive market while potentially reducing costs in the long term.
Conclusion
The large format printing industry stands at the crossroads of innovation and tradition, with diversification, automation, and sustainability as its guiding trends. Businesses that adapt to these changes can unlock new growth opportunities, streamline operations, and meet the rising expectations of environmentally conscious consumers. Embracing these trends is not merely about survival – it’s about thriving in a rapidly evolving landscape. By integrating these strategies, print businesses can position themselves as leaders in an industry poised for a sustainable, tech-driven future.
HP can help you take the next step to ensure your print business has the best chance of success.
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