Publication date: 28 Aug 2024
ANZ Large Format Graphics Printer Segment Saw a 2.2% YoY Growth in 1H2024
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For more information, contact:- Jimmy Ersheng Li Email: jili@idc.com
- Yi Karl Tai Email: yktai@idc.com
- Michael De La Cruz Email: mdelacruz@idc.com
- Miguel Carreon Email: mcarreon@idc.com
Australia and New Zealand Large Format Graphics Printer Market Shows Resilience with 2.2% YoY Growth in 1H2024 Despite Sequential Decline
SYDNEY, 29 August 2024 – Based on the IDC Worldwide Industrial Printer Tracker, a total of 1,024 units of large format graphics printers were shipped in both Australia and New Zealand in the first half of 2024. This marked the second consecutive semi-annual which recorded YoY growth of 2.2%, but on a sequential growth basis, it was a 22.5% drop in unit shipments compared to 2023H2.
Comparing the current market situation to the pre-pandemic period, we observed that total unit shipments for large format graphics printers were yet to fully recover to historical levels. However, there are more interesting dynamics when we drill down to more detailed segments like ink types, media output, speed, etc.
The current economic situation across the ANZ region has worsened since the pandemic, impacting businesses across multiple sectors. Amidst the economic slowdown, we noticed that small businesses in the graphics print sector faced tremendous pressures like rising operation costs, shortage of labour, decreasing spending power from end users, and a few other concerning factors.
“In Australia, we saw bigger graphic print service providers managed to purchase high-end graphic printers to enhance their offerings in the market. On the other hand, we also observed that several smaller print businesses struggled to stay afloat in the past 6 months due to high cost pressures and tough market competition. These are clear signs that stronger businesses will continue to stay afloat taking over businesses from smaller players,” says Jimmy Ersheng Li, Research Manager from Imaging, Printing and Document Solutions (IPDS) team.
“For New Zealand, the economic outlook is much more concerning compared to Australia. Small and medium enterprises comprise the majority of the graphic print business, with only several large players in the market. Regardless of the size of the business, most of them are holding back their spending which caused the demand to shrink,” says Yi Karl Tai, Research Analyst from Imaging, Printing and Document Solutions (IPDS) team.
Notably, out-of-home advertising has seen strong growth over the past few years since the pandemic, which contributed to the sign, display, and broader graphics sector. However, the growth margins for traditional media are softer than digital media these days, and a growing number of companies are opting for digital media as their advertising medium. As time goes on, it will become a concern for traditional static media like signage, posters, and billboards when a form of digital media starts to replace them.
Other than out-of-home media printing, demand for other print applications such as personalized direct-to-shape prints, soft signage printing, wallpaper, and deco prints captured growth, indicating that there are growing opportunities. The overall graphics market will remain vibrant with new applications introduced into the market driven by new print technologies.
For more information on this IDC tracker, please contact Jimmy Ersheng Li jili@idc.com and Yi Karl Tai at yktai@idc.com. For media inquiries, contact Michael de la Cruz at mdelacruz@idc.com.or Miguel Carreon at mcarreon@idc.com.
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