Marketing is one of the most important stages of any supply chain and personalized marketing has proved to be extremely helpful for converting leads into transactions. Variable data printing (VDP) or variable printing or offset printing is a process of printing customized marketing advertisements through e-mails, brochures, flyers, and handouts. VDP uses software for variable imaging in order to customize the output of the digital printing press in order to send out personalized potential advertisements. This personalization is completely dependent on the data pointers that are stored in the company’s database. Data pointers such as name, address, and other personal details can be added to a pre-stored message. This form of marketing triggers potential customers to pay more attention to the advertisement. The internet plays an important role in variable data printing as it is currently the biggest platform for advertising and marketing purposes. Variable data printing on physical advertising samples such as the envelop, buck slip, notecard, poster, catalog, and postcard are carried out with the help of advanced digital printers that extract personalized information from software and print them accordingly along with the core content of the message. With the integration of variable data printing, the manual efforts for labeling and the speed of the operations have increased significantly. The demands for variable data printing are witnessed from a number of end-user industries such as the food and beverage, retail, manufacturing, consumer durables, banking, financial and insurance (BFSI), pharmaceuticals, and fast-moving consumer goods (FMCG).
The global Variable Data Printing Market generated revenues worth $9.39 billion in 2018 and the demands in the same are projected to grow at a double-digit CAGR of 11.16% during the forecast period 2019 to 2025.
North America: Most Lucrative Region in the Variable Data Printing Market
The North American region was observed as the most profitable region in the global variable data printing market and the region grabbed 45.87% of the total market share in 2018. The demands for variable data printing is high in the region owing to the flourishing retail sector. Moreover, the inception of the e-commerce industry has played a major role in boosting the variable data printing market. Online services such as subscription for entertainment services, food services, and technical service providers use the variable data printing method to target customers personally through their e-mails and other contacts. The region is carrying out intensive research and development activities to improve the existing variable data printing technology which in turn is attracting considerate investment in the regional variable data printing market. Additionally, the prolific import and export activities in the region are benefiting the regional variable data printing market as this technology is used for printing labels and destination codes on the products. Following closely, the APAC variable data printing market is also witnessing huge demands for variable data printing technology. The presence of some of the fastest developing economies such as India and China are boosting the market growth in the Asia-Pacific region due to rapid industrialization. China and India are considered as the manufacturing hub for various end-user industries such as the consumer electronics, textiles, and FMCG products, thus, the requirement for variable data printers are growing rapidly in the APAC region.
Key Application in the Variable Data Printing Market
By technology, the thermal transfer is considered as the major application in the variable data printing market. The demands for thermal transfer technology are projected to grow at a CAGR of 12.21% during the forecast period. Thermal transfer is widely used in the home textiles and clothing products. Most of the textile companies use the thermal transfer method for labeling the fabrics with bar codes. Thermal label uses heat to transfer a printed image or product details on the label. The thermal transfer method is prevalent in the manufacturing industry because of the premium quality it delivers along with the strong protective laminated film. The demands in the clothing industry are recurring and therefore, the requirement for thermal transfer for labeling purposes are expected to induce enormous opportunities in the global variable data printing market in the near future.
Top Trends Influencing the Variable Data Printing Market
Electronic Labels: The advent of e-commerce industry nurtured a great ecosystem for adjacent businesses. For instance, the e-commerce industry has boosted the business in the transport industry. Similarly, the prevalence of e-commerce has also prospered the need for labeling products in the industry. The technological advancements in the labeling methods have come up with electronic labels. These labels can be tracked and traced with the help of the unique ID that they possess. The e-commerce companies store their products in humungous warehouses and tracking the position of a particular product in the inventory can be a time taking and hectic task if done manually. Therefore, special artificial intelligence (AI) enabled rack sensor scans the labels and provides the information regarding the product availability and position of its storage. Following the installments of electronic labels such as the bar codes and QR codes, the time that was initially spent on searching a particular product has been significantly reduced which has, in turn, reduced the time involved in the supply chain that has increased the overall efficiency of the complete operation. Thus, variable data printing when amalgamated with advance technology can unbelievably optimize the operation at any end-user industry.
Sustainable Labeling: The labels attached to a particular product are generally printed on thin plastic films. Evidently, plastic has become one of the most debatable entities in today’s date, mainly due to its immortal properties. Growing environmental concerns over the usage and degradation of plastic have encouraged the label developers to use sustainable and environment-friendly raw materials for printing labels. For instance, fabric labels are gaining popularity at a rapid pace and are expected to expand tremendously due to their sustainability factor. The imposition of various mandates by governments regarding the consumption of plastics is inducing the companies to opt for sustainable printing options which are further expected to influence the global variable data printing market.
Variable Data Printing Market Competitive Landscape
The companies influencing the variable data printing market are Mondi Plc, HP Inc., R.R. Donnelley & Sons Company, Xerox Corporation, Canon Inc., and 3M Company.