quick printers are expected to increasingly expand their operations to other high-value service operations in order to diversify their revenue streams
Los Angeles, California (PRWEB) November 19, 2011
The Quick Printing industry in the United States has experienced significant declines during the past 10 years due to the rise of digital products and media. This trend is expected to continue over the next five years, with industry revenue forecast to contract at an average annual rate of 0.7% to $2.7 billion, according to IBISWorld, the nation’s largest publisher of industry research. According to IBISWorld, the Quick Printing industry will enjoy several years of moderate growth, stemming from a recovery in business advertising and increasing per capita disposable income, which will spur household spending on quick printing services.
The US Quick Printing industry is becoming increasingly obsolete due to the swift decline in computer, software and peripheral equipment prices that has occurred over the past decade. Rapid advancements in computer technology have driven the drop in prices. As a result, consumers and small businesses are increasingly performing tasks that were previously serviced by quick print shops, in the convenience of their homes and offices. And they are increasingly favoring alternative mediums, such as online media and digital communications over printed materials, leeching away industry demand. Over the five years to 2011, revenue in the Quick Printing industry is expected to fall at an average annual rate of 4.8% to $2.8 billion, with an estimated decline of 2.5% from 2010 to 2011.
FedEx Corporation, a global shipping and receiving firm, dominates the industry. Unlike the operators in the Printing industry, the Quick Printing industry is largely composed of firms that do not actually specialize in quick printing services. Instead, the Quick Printing industry's largest players include office retailers, shipping and transportation companies and business support firms.
More recently, industry demand has experienced a shift toward higher-value services and away from basic printing and copying. In particular, custom and high-quality promotional and stationery products have increased their shares during the five years to 2011. The popularity in web-to-print services, in which customers design materials and send them electronically for printing, is indicative of this shift toward technology-heavy processes that will increasingly be covered by the industry.
According to IBISWorld analyst, Caitlin Moldvay, still, industry revenue is forecast to continue contracting over the next five years, falling to an estimated $2.7 billion. Although improving economic conditions will boost business demand for quick printing services and slow the rate of decline, customers' continued transition to the internet will limit industry gains. In response, “quick printers are expected to increasingly expand their operations to other high-value service operations in order to diversify their revenue streams,” says Moldvay.
For more information, download the full report from IBISWorld on the Quick Printing industry
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