Keypoint Intelligence announces the availability of the Global and North American Print Production Workflow Market Forecast: 2020-2025. This comprehensive report addresses specific areas that affected print service providers (PSPs) due to the 2020 pandemic as well as software segments that will greatly impact the industry as a whole.
As of the beginning of this year half of PSPs were concerned with maintaining or increasing sales. However, PSPs are generally optimistic, with 63% expecting their revenues to increase in 2021, with 27% anticipating gains over 10%.
Although we predicted that the pandemic would decrease the amount spent on production workflow software, spending was resilient. European PSPs reported only an average 4% decrease in spending, while in the North American market the average budget increased by 20%.
The pandemic acted as an accelerant to digital transformation, optimization, and automation initiatives that largely required software. Research proved this out in NA and WE within the production printing segments. Our findings show that the role software will have as the industry marches toward Smart Print Manufacturing marked by semi-to-fully autonomous printing will be greatly beneficial through 2025.
“Cloud computing should be what these businesses are looking at,” states Carl Doty, Keypoint Intelligence VP and Chief Analyst. “Subscription pricing and cloud computing will be a paradigm shift in revenue makeup starting in 2024.”
The Global and North American Print Production Workflow Market Forecast: 2020-2025 report can be purchased separately or as part of a subscription to other research provided by Keypoint Intelligence’s Production Workflow service. In addition, add-on options to the purchase include the development of sales and marketing tools such as leveraging the data and developing messaging through PowerPoint charts and pivot tables in Excel.
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