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Commercial Printing Market size was valued at USD 476.30 billion in 2021 and is poised to grow from USD 489.63 billion in 2022 to USD 627.78 billion by 2030, growing at a CAGR of 2.8% in the forecast period (2023-2030).

Competitors are heavily investing in research and development practices. The market's product homogeneity is compelling many participants to engage in price-based competition. Consequently, fierce competition has emerged in the target market. Moreover, companies are facing pressure to cut costs while fostering innovation, leading to thriving competition within the print services sector. 'Quad/Graphics Inc.(US)', 'Acme Printing(Sri Lanka)', 'Cenveo(US)', 'RR Donnelley (US)', 'Transcontinental Inc.(US)', 'LSC Communications US, LLC.(US)', 'Gorham Printing, Inc. (US)', 'Dai Nippon Printing(Japan)', 'The Magazine Printing Company(India)', 'Cimpress plc(France)', 'Quebecor World Inc.(Canada)', 'Duncan Print Group(UK)'

Print advertising plays a prominent role in driving the growth of the commercial printing industry. It serves as a key component in comprehensive marketing strategies adopted by retail companies to target their specific markets. Interestingly, a recent Adobe survey of 1,250 U.S. consumers brought attention to a noteworthy challenge faced by online or digital marketing, as it struggles to capture people's attention effectively. In contrast, print-based advertisements have shown to garner greater customer attention. Notably, an advertisement featured in a magazine can continue to promote a product or service for an extended period, lasting for months or even years, as long as the magazine remains in circulation.

Advancements in Technology and Growing Demand: The digital printing industry is expected to witness significant growth during the projected period due to the rapid adoption of laser and inkjet printing solutions in the paper and packaging sectors, primarily driven by their adaptable and cost-effective features. The utilization of Internet of Things (IoT) and Artificial Intelligence (AI)-based technologies is also anticipated to fuel the digital printing market. Furthermore, the increased usage of digital printing in consumer electronics, such as smart thermostats, is projected to boost the demand further, resulting in rapid expansion of the worldwide digital printing market in the coming years.

Asia-Pacific holds the highest share of revenue contribution and is projected to experience a Compound Annual Growth Rate (CAGR) of 2.30% during the forecast period. The region's significant revenue growth is driven by the increasing demand for commercial printing in emerging economies like India, Japan, China, Indonesia, Bangladesh, and Thailand. Various factors contribute to the expansion of the printing market in the Asia-Pacific region, such as the adoption of new technologies, evolving lifestyles, the growth of e-commerce, and rapid urbanization.With a substantial and rapidly growing population, along with a consistently expanding economy, China plays a pivotal role in the region's printing industry. The Chinese commercial printing sector, in particular, holds significant importance and has shown potential for adopting digital printing technology. This is mainly due to housing major manufacturers and attracting numerous Fortune 500 companies, further fueling the growth prospects of the Commercial Printing Market in the Asia-Pacific region.

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Global Commercial Printing Market

Product ID: SQMIG45O2031