Kodak’s plans to concentrate on its print technology have been given the thumbs up with the publication of a new report which predicts a resurgence in the sector, to be worth nearly $536bn globally by 2015.
According to the “Commercial Printing: A Global Outlook” report from Global Industry Analysts, the worldwide commercial print industry is reviving in tandem with the recovery in the global economy, stimulated by fresh inflows of advertising revenues, technological developments, and strong demand from emerging economies in the Asia Pacific and Middle East region.
As the industry mainly produces direct mail, publicity products, newspapers, periodicals, printed packaging and modules, the fortunes of the sector are largely linked to the depth of corporate advertising budgets, it said.
The industry is highly competitive with customers demanding shorter run lengths, personalisation, and faster turnarounds. The advent of digital technology into print resulted in the opening up of new avenues for the industry.
Direct mail and commercial printing are rapid growth areas for the industry, as they meet the consumer requirement for high-quality as well as personalisation.
However, the recession also prompted printing equipment manufacturers, product suppliers and service providers alike to rework their existing business strategies and customer relationship management skills.
The report claims that “despite the prevalence of the Internet and portable digital devices, printed matter continues to charm consumers. With a gradual increase in corporate budgets and continued consumer patronage for printed advertisement and graphics materials, the industry is anticipated to register healthy growth in the near future”.
