New York, Oct. 11, 2023 (GLOBE NEWSWIRE) -- The global variable data printing market size is slated to expand at ~16.4% CAGR between 2023 and 2035. The market is poised to garner a revenue of USD 58.54 billion by the end of 2035, up from a revenue of ~USD 8.21 billion in the year 2022.Variable data printing allows for personalized marketing materials that can be tailored to individual customers, increasing engagement and response rates.
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According to a study personalized direct mail campaigns have response rates that are 45[R1] % higher than non-personalized campaigns. This is because customers are more likely to pay attention to and respond to marketing messages that are relevant to their interests and needs.
Improved Cost-Effectiveness to Boost Market Growth
Variable data printing (VDP) has revolutionized the printing industry by allowing for customized printing at a fraction of the cost of traditional printing methods. With VDP, businesses can print small batches of materials with individualized content, making it an ideal solution for targeted marketing campaigns. In fact, studies have shown that VDP can result in a 50[R2] % reduction in printing costs compared to traditional printing methods. This cost-effectiveness is one of the key factors driving the growth of the VDP market. By using VDP, businesses can save money while still delivering high-quality, personalized materials to their customers. Furthermore, VDP enables businesses to target specific customer segments with personalized messages, which can help to increase customer engagement and loyalty.
Variable Data Printing Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Increasing Adoption Of Variable Data Printing Solutions By Businesses to Drive the Growth in the North America Region
The variable data printing market in North America region is estimated to garner the largest revenue by the end of 2035 owing to the increasing adoption of variable data printing solutions by businesses in the region. The demand for personalized and customized printing solutions is also expected to fuel the growth of this market. 79[R3] % of companies in the United States use targeted advertising to connect with consumers. Furthermore, a substantial 62% of marketers in the US believe targeted advertising will hold importance as one of the primary marketing strategies, in the coming five years. VDP enables companies to segment their audience and send tailored messages to specific customer groups. This targeted approach helps in reaching the right audience with the right message, leading to better engagement and higher ROI.
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Emerging Market for E-Commerce to Drive the Growth in the Asia Pacific Region
The Asia Pacific variable data printing market is estimated to garner the largest revenue by the end of 2035. This growth can be attributed to the fact that the Asia-Pacific region is an emerging market for e-commerce, with countries such as China and India having a large consumer base. China emerged as the leading e-commerce market in 2021 generating a revenue of USD[R4] 1.6 trillion. The domestic platforms that dominate China's e-commerce landscape are Alibabas Taobao and Tmall with a market share of 51% followed by JD.com at 16% and Pinduoduo, at 15%. Additionally, countries in region also have a large population, which increases the demand for personalized packaging and promotional materials. VDP enables online retailers to create customized packaging and promotional materials for their customers, enhancing the overall shopping experience.
Variable Data Printing Segmentation by Composition
- Facestock
- Topcoat
The facestock segment is anticipated to hold the largest revenue by the end of 2035. This is due to its increasing demand for specialized labels, such as labels with variable data, which are increasingly being used in various applications, such as product labels, barcodes, and shipping labels. According to the data nearly half of the participants (48%) expressed their agreement, with the growing utilization of QR codes. When examining QR code usage it is evident that East Asia ranked highest with a usage rate of 16% in 2019. Additionally, the rising demand for facestock with enhanced durability and resistance to environmental factors, such as heat and moisture, is further driving the growth of the facestock segment.
Variable Data Printing Segmentation by Printing Technology
- Thermal Transfer
- Direct Thermal
- Electrophotographic, Inkjet
The inkjet segment is anticipated to hold the largest revenue by the end of 2035. Inkjet printing is becoming increasingly popular due to its cost-effectiveness, speed, and ability to produce high-quality prints. Printing is ranked 16th in terms of market size among manufacturing industries with inkjet printers comprising more, than 6[R5] % of the overall computer peripherals sector. It is also becoming increasingly popular in the pharmaceutical and food industries, where variable data printing is used to track production and product freshness.
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A few of the well-known industry leaders in variable data printing market that are profiled by Research Nester are Canon, Inc., 3M Company, Xerox Corporation, RR Donnelley & Sons Company, HP Inc., Mondi PLC, Avery Dennison Corporation, Quad/Graphics Inc., Cenveo, Inc., Ricoh USA, Inc., and other key market players.
Recent Development in the Variable Data Printing Market
- Avery Dennison Corporation, a company specializing in materials science and manufacturing recently unveiled its new range of direct thermal DT linerless products as part of its sustainable advantage product line in the Asia Pacific region. One of the highlighted offerings is AD XeroLinr DT.
- Ricoh USA, Inc. has announced that Sepire, a marketing services and mail order company has expanded its manufacturing capabilities by incorporating a RICOH Pro VC70000 continuous feed inkjet platform into their facility. Sepire is currently the owner of VC70000 presses in the US, which can be attributed to their remarkable 50% annual growth within highly regulated sectors such, as healthcare, finance and insurance industries.
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