Printing Services in Canada Industry Market Research Report from IBISWorld Has Been Updated
New York, NY (PRWEB) April 01, 2015 -- The Printing Services industry suffered over the past five years as demand from downstream industries in the printing and publishing sectors plummeted. The industry has been one of the economy's worst performing over the past decade due to the sudden consumer shift away from traditional print media channels toward online alternatives. The recession further accelerated the industry's long-term decline. While many industries rebounded quickly in the years following, printing services operators continued to struggle as printed newspaper and magazine circulation sank, book sales fell and many forms of printed materials moved online. Over the five years to 2015, industry revenue is expected to decline at an annualized rate.
According to IBISWorld Industry Analyst Farrell McKenna, “The industry has also been affected by technological shifts over the past five years.” Advances in digital printing and desktop publishing have allowed the industry's customers to perform many prepress services in-house. While some of the industry's services, such as plate making, cannot be substituted, there are a range of peripheral services related to design that have been substituted. Additionally, printing services operators face increased external competition from specialists such as graphic designers that can now perform industry services with much less capital investment. As a result, more than half of printing services establishments have exited the industry over the past decade.
“While the Canadian economy is expected to continue improving over the five years to 2020, there will not likely be any relief on the horizon for the Printing Services industry,” says McKenna. Many of the fundamental factors that have led to the industry's demise remain unresolved as traditional print plays less of a role in the media landscape. To be successful and remain profitable over the next five years, operators will restructure their operations to provide more relevant and value-added products in addition to traditional prepress and postpress services. A large number of small, owner-operator businesses are expected to close as the industry consolidates to include only profitable companies with stable, long-term contracts and a diverse range of services. Over the five years through 2020, industry revenue is forecast to decline per year on average.
For more information, visit IBISWorld’s Printing Services in Canada industry report page.
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IBISWorld industry Report Key Topics
This industry offers prepress and postpress services. Prepress services include imagesetting and typesetting for printers, film preparation and plates for printing. Postpress services include functions that support printing activities, such as book binding. This industry does not include companies that are primarily engaged in printing (these are classified in IBISWorld report 32311CA, Printing in Canada).
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About IBISWorld Inc.
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 and Canadian 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.
Gavin Smith, IBISWorld, +1 (310) 866-5042, [email protected]
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