In a large-format print market now worth billions, the PSPs who offer something extra can reap huge rewards.
Large-format printing continues to be a profitable segment. By 2025, the worldwide market for large-format printing will be worth $11.2 billion. Despite this prodigious growth, parts of the core large-format business are becoming increasingly commoditized.
This is particularly true for deliverables such as banners and posters, which are some of the easiest applications to produce. This has prompted some print service providers (PSPs) to use the current times to reposition and diversify their businesses. They are doing this by expanding into higher-profit applications as a natural next step. Some applications are simply worth more.
Differentiation is key to growth. This realization has sparked a dash to innovate, with printers looking for new business models, new opportunities, and even new types of products to help them prosper in this new business landscape. The best way to do that is to diversify and offer something your competitors do not.
For more on the state of the wide-format printing market, check out this panel discussion with industry experts from Roland DGA, Mutoh America, Mimaki USA, and HP.