What do you feel were the main trends and key industry developments in 2023?
2023 has been an extremely challenging period for our market across all segments. Industry companies have had to deal with high general inflation, high interest rates, high wage inflation, continued high energy costs, changes in technology, sustainability impacts, demand volatility, and skills shortages. This has led to increased market consolidation and has forced many companies to reorganise where necessary in order to remain sustainable.
How have the continuing economic and market specific challenges affected you and your customers during 2023 – have you had to do anything differently to adapt/react?
Our customers and ourselves have not been immune to all these challenges and we have seen many customers adapting technology and processes, as well as being beneficiaries of consolidation.
What do you expect to be the main trends, key industry developments, and biggest opportunities for printers in 2024?
For the commercial segment further market consolidation but less volatile print volume demand will result in print companies investing in technologies and solutions that aide their efficiency and lower production costs. For the packaging segment we expect higher consumer demand as inflation pressure eases and therefore an improvement in demand for printed volume. This, along with the various sustainability topics, will result in a need for efficient and appropriate printing capacity.
What are your hopes and expectations for Drupa 2024?
After some years of unprecedented industry disruption many print companies are seeking clarity and confidence in the investment directions they will take, their ultimate goal is to continue to meet the ever changing demands of their customers. For Drupa 2024 to be successful, it is important that it showcases and provides exactly this clarity.
AI has been one of the hot topics of 2023 – what opportunities and threats do you think it poses for print in 2024 and beyond?
It’s no different for the print industry than any other one. There are numerous clear risks and opportunities that arise with the advancement of AI. It is set to continue to have a major impact on the world as we know it. Closer to our industry it will affect the development and design of technology and related solutions, the printing processes, and in the way print is demanded and consumed.
How can suppliers better help printers navigate the challenges and seize the opportunities in 2024?
Suppliers must evolve to meet the changing needs of print companies. This is driven by the changing needs of printed media consumers and consumers of packaged products. Suppliers are a key part of the print value chain and hence should be as adaptable as the market demands.
Note: This prediction is taken from a special Briefing article in the new issue of Printweek featuring insights from industry suppliers, hence it does not follow the same question template as the other predictions.
