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Print industry Players Troubled By Digitization.
How Relevant Will Paper Documents Be By 2025?
by Jessica Meek.
Print industry executives are ill prepared to respond to the digitization of the industry, according to the latest research by analyst Quocirca.
The study, Global Print 2025 market insight study, released today, finds that while 71 percent of industry players expect market disruption, only 39 percent feel "well prepared" to respond to it.
And while industry executives surveyed said that they feel positive about future revenue growth (60 percent), a majority (74 percent) also noted that moving to a service-centric model will be a major challenge.
Other concerns inlude the impact of a millennial workforce, with 69 percent of industry respondents expressing concern about meeting the demands of millennials. Meanwhile, 64 percent of manufacturing respondents acknowledged that innovation will be necessary to address the changing market, with 80 percent citing this as their primary challenge over the next seven years.
End users questioned for the study highlighted the move to mobile as key between now and 2025. Quocirca notes that the importance of paper documents will continue to decline in the workplace with the continued rise of digital alternatives. The researcher points out, however, that print is not disappearing. It cites 64 percent of end user respondents as saying that paper documents will "still be important" in 2025.
Areas of growth cited by end user respondents include mobile and cloud printing, security and paper-to-digital workflow. "These represent significant opportunities for the industry," Quocirca said in its release accompanying the research. "Print companies who aim to capitalize on these demands must invest in software and big data expertise and become trusted partners to assist customers with their digital transformation projects and deliver analytics-based insights into workflow efficiency," the researcher noted.
Meanwhile, Louella Fernandes, director of research at Quocirca, noted in the release that the workplace is evolving at "an unprecedented rate".
"As the importance of conventional print declines and digitization initiatives accelerate, we discovered an industry that is acutely aware of the strategic need to adapt to survive in the face of disruption," she noted.
https://www.channelnomics.com/channelnomics-us/news/3027845/print-industry-players-troubled-by-digitization-research
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