COVID-19 and Future of Print Survey Reveals Resilient Market Intent on Innovating Amid Accelerated Change
The latest COVID-19 and the Future of Print ’21 Survey was conducted in October 2020 during the FuturePrint Virtual Summit and attracted 139 respondents from over 20 countries. Results reveal a resilient print technology community that has adapted to the challenges placed in front of it while continuing to innovate amid accelerated change.
The survey was conducted by FM Future in Partnership with Ricoh Europe Industrial Print and provides insight into how the print technology sector is responding to the crisis 5 months on from the start of the first lockdown.
Respondents come from 20 countries and are a mix of print professionals from the technology development community, PSP’s and end user OEMs.
According to the results, innovation retains its importance despite the radical change in trading conditions with over half of respondents (52%) stating they are innovating more now than prior to lockdown and in response to a question about how the crisis has affected investment plans, 65% said the priority has now shifted to greater efficiency (65%) followed by technology that enables the production of new applications (48%).
Results also suggest the market has experienced accelerated change in demand and when asked how they have responded to the crisis, 56.5% of respondents have said that they have adapted and 37.68% stated that they have added digital solutions to help them to deliver solutions for their customers against changing demand.
During the early phase of lockdown both manufacturing and retail supply chains struggled to meet sudden spikes in demand leaving supermarket shelves empty. Survey respondents believed there has been an increase in collaboration to help solve this closely followed by an increase in interest in digital manufacturing technology and decentralization of manufacturing to shorten supply chains and improve flexibility.
Graham Kennedy, Director of Ricoh Europe’s Industrial Print Business “These results reveal a sector that has moved forward despite the challenges and that while the market has not returned to its previous position, there is nonetheless acceptance and a normalisation occurring. It is obviously positive for inkjet that the market continues to adapt and innovate using digital technology to solve new problems and meet new demand. We believe those businesses that continue to move forward and provide innovative solutions to new problems will be best positioned to play a key role in the inevitable recovery.”
To gain a copy of the survey download here.