Convergence in the Print Industry: Opportunity for Growth

As technology continues to evolve and progress, the print industry is seeing a significant shift from traditional methods of operation. The emerging technologies are enabling printers to offer newer applications, enhancements and embellishments from their equipment. At the same time, printers are also seeing new business opportunities in diversifying into new segments beyond their primary focus to remain competitive.  

New technologies in printing allow for variation in the type and size of print runs and shorter lead times. The printers can now expand their offerings by converging with other segments by upgrading their printer technology. 

Documented Shift in the Print Industry 

This shift in the print industry was documented in a recent study commissioned by Napco Research with Printing United Alliance. The objective is to determine how print segments are merging through print service providers to expand into segments beyond their own. Print Service Providers (PSP) are looking for new avenues and venturing into other segments of the business.  
 
The study found that in an effort to best serve their customers, printers had begun to identify opportunities outside their primary segment and consider this expansion into other markets to become a one-stop-shop. In order to serve their customers better and maintain an ongoing productive relationship, print businesses are making the decision to provide additional services by expanding into other segments. 

Opportunity for Growth 

According to the study, many printers felt there was still significant opportunity to grow. Over 80% of respondents believed that the expansion into new segments would accelerate over the next five years. This growth will be seen in the investment in new equipment and software, the addition of employees with a specific skill set, as well as an increase in the number of mergers and acquisitions among printers to make a successful entry into a new segment. 

With evolving technology and challenges ahead, it makes sense for PSPs to not only look out for the new opportunities arising within their own market but to explore the ones in other segments of the print business as well. 

Machine Dalal platform is preferred by buyers and sellers from the global print industry to get directly connected with each other and buy and sell used printing machines with ease.                    

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