Consumers' transition to at home printing will limit industry gains, despite boosted business demand
Los Angeles, CA (PRWEB) July 05, 2013
The Quick Printing industry is facing significant challenges due to the past decade's swift decline in computer, software and peripheral equipment prices. “Rapid advancements in computer technology have allowed consumers and small businesses to complete tasks, previously serviced by quick print shops, from the convenience of their homes and offices,” says IBISWorld industry analyst Stephen Morea. “Moreover, consumers are increasingly favoring alternative mediums, such as online media and digital communications, over printed materials, leeching away industry demand.” Over the five years to 2013, revenue is expected to fall at an average annual rate of 3.7 percent to $2.9 billion. In spite of these trends, industry revenue has stabilized due to a modest bounce back in print advertising expenditure following the end of the recession. Consequently, industry revenue is expected to increase by 1.3 percent to $2.7 billion in 2013.
FedEx Corporation, a global shipping and receiving firm, dominates the industry. The Quick Printing industry's largest players include office retailers, shipping and transportation companies and business support firms. In the five years to 2013, the number of enterprises is anticipated to fall at an average annual rate of 3.3% to 4,920 companies; this trend is expected to continue as major players continue to gain market share and smaller companies exit the industry because of declining demand.
More recently, industry demand has shifted toward higher-value services, such as custom and high-quality promotional printing, and away from basic printing. “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,” says Morea.
Industry revenue is forecast to break its decade long trend of decline by increasing in the five years to 2018. Although improving economic conditions will boost business demand for quick printing services, consumers' continued transition to the internet and do-it-yourself (DIY) printing will limit industry gains. In response, quick printers are expected to increasingly expand their operations to other high-value services, such as design and promotional printing for small businesses. For more information, visit IBISWorld’s Quick Printing in the US industry report page.
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IBISWorld industry Report Key Topics
This industry comprises establishments that provide traditional printing activities, such as short-run offset printing or prepress service, in combination with document photocopying service. Prepress services include receiving documents in electronic format and directly duplicating from the electronic file and then formatting, colorizing and modifying the document to improve presentation.
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Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.