Gianluigi Rankin, Director of Product Marketing at Memjet
In a recently published research report, The Future of Inkjet Printing to 2023, marketing intelligence firm Smithers Pira estimates that the global market for inkjet printing will grow at a rate of 9.4% year-over-year and will be worth $109 billion in value of output by 2023.
Compare that number with the general outlook for the print industry. In this sector, global growth is occurring at a more moderate 0.8% annually. You can understand why inkjet printing solutions are getting so much attention and so many resources.
In recent years, manufacturers of all aspects of inkjet printing technology – including printheads, machinery, inks, drying systems and associated software – have invested heavily in research and development. Collectively, these developments have greatly improved the economics, print quality and reliability of inkjet technology.
The past few years have been a time of great advancement for inkjet printing. The market has seen a surge in the development of creative inkjet powered printing technology, and, as a result, we now have a much wider range of flexible solutions that can produce high-quality output at speeds that make them the right fit for a wide variety of markets and opportunities. In many cases, today’s inkjet solutions can produce products more cost-effectively than their analogue alternatives.
Combining research, creativity and technology has resulted in the growth of inkjet-powered solutions that gives print providers the opportunity to better serve clients in existing markets and expand into new ones.
Obstacles to Adoption
Despite the business opportunity inkjet printing represents, there are still printers who are resisting the inkjet printing trend. The question is, why?
Making the shift from one business model to another can be daunting for many print service providers (PSPs).
Our Senior Vice President, Arnaud Linquette told us that, For PSPs to be successful with inkjet, they need to think differently about their businesses.” “That is the opportunity – and the challenge. Everything from economics to sales to pre-press to finishing must be adapted to fit a new way of business. This transformation is not easy and causes many providers to hold off on adopting inkjet technology.”
Adapt and Thrive
There are a variety of drivers for printers to adopt inkjet. Here are some of the most common:
- New business opportunities
- Faster turn-around times
- Increased job volume and smaller print runs
- Enables efficient full-colour printing on all jobs
- Lower cost of ownership compared to digital toner
Printers need to define how they want to measure the return on their investment. For many printers, it is helpful to analyse the total cost of ownership. Look beyond the cost of the press and understand all the costs involved with the production of a print job, and what efficiency gains you could achieve. This analysis will help you set expectations and ensure your financial and productivity requirements are met.
While the adoption of inkjet printing technology brings initial challenges and financial pressures, the end result is positive.
“In our experience, we see that providers generally take between six and 12 months to get their inkjet solution and processes up to speed. But once they do, these providers realise significant business benefits, including reduced costs, new business opportunities and the ability to offer personalisation,” says Linquette.
The Power of Inkjet at FESPA