The global print on demand market was valued at USD 4.91 billion in 2021. It is projected to reach USD 39.87 billion by 2030, growing at a CAGR of 26.20% during the forecast period (2022–2030). Print on demand is a technology and business procedure in which book copies (or other documents) are not made until the company receives an order, allowing for single or small-batch printing. While other industries developed the build-to-order business model, "print on demand" could not exist until the advent of digital printing because it was cost-ineffective to create single copies using traditional printing technologies such as letterpress and offset printing.
Print-on-demand is a framework for accurately and optimally controlling and optimizing printing machines and procedures. It assists businesses in lowering printing costs by allowing them to track, control, and manage their entire printer fleet from a single application interface. Mailing and delivery, as well as quick and offset printing, are all possible with print management software. Due to its unified control, this program can also manage copiers, scanners, and desktop printers. Print management software is available in standalone and embedded forms within controlled print facilities.
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Expanding Internet Penetration and Growing Smartphone Adoption
The preference for unique products and fashion apparel, as well as increased internet usage and smartphone use, are all factors driving up demand for print-on-demand services. Online retail sales growth is one of many factors assisting the sector's expansion. The restrictions imposed by Covid-19 led to an increase in online shopping, which raised the demand for goods that were printed on demand.
Print-on-demand Systems offer Customers Printing Options
The people working from home and staying in their homes have increased sales in the product category known as home décor. It is projected that this element will be a driving force behind the expansion of the market for print-on-demand services. Print-on-demand platforms provide consumers with printing solutions customized to their specifications. Depending on the platform, artists and merchants owning a print-on-demand business and wanting to sell their designs online can connect their existing online store or create a new one. The service providers will print the customers' orders and ship the product to the customers, completing the end-to-end fulfillment service.
Lack of Power and Transparency for Artists and Makers
One of the most fundamental market constraints is the absence of transparency or control for those responsible for producing works of art or materials. This situation arises because the artists have no control over the final product's quality, and not all of them have access to the client list. Furthermore, the artists are not paid for their work until the final product is produced, which could cause the clients to feel unsatisfied. In this case, they might investigate the many alternatives available to them at their disposal.
The global print on demand market is segmented by platform, software, and products.
Based on the platform, the market is divided into software and service.
The service segment dominates the market and is expected to grow at a CAGR of 28.4% during the forecast period. This is due to increased service providers offering drop shipping and end-to-end fulfillment. Other services offered by the service providers include marketing and branding services, such as bespoke packaging and creative services. These platforms provide print-on-demand merchants and artists with ease and options. The software segment accounted for the most significant revenue share, which is anticipated to persist during the forecast period. The expansion of the software segment can be linked to the rise in technology investments made by print-on-demand service providers. Service providers provide software solutions such as Application Programming Interface (API) and design-creation instruments. The API facilitates the integration of an existing online store with a print on demand platform for the merchants.
Based on products, the market is divided into apparel, home décor, drinkware, and accessories.
The home décor is anticipated to grow at a CAGR of 27.7% during the forecast period. Due to the development of remote working, an increasing number of people worldwide have been staying at home and looking for ways to upgrade their living spaces since the pandemic. The expanding availability of a broad range of goods falling under the home and lifestyle category gives customers more options, which boosts sales. Mats, pillows, and posters are a few examples of such items. The apparel segment is responsible for the most significant revenue share, and it is anticipated to hold this position during the projection period. This is mainly due to the rapid penetration of internet retail into the fashion arena, the growing interest among younger consumers in bespoke and one-of-a-kind items, and the popularity of fashion clothes.
The global print on demand market is segmented into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.
Regional Growth Insights Request Sample Pages
North America is the most considerable shareholder in the global print-on-demand market due to various factors, including technological infrastructure and production facilities for print-on-demand items, healthy economies, and consistent economic growth. For instance, the world's most lucrative print-on-demand companies, such as Printful, Inc., Printify, Inc., and Zazzle, Inc., have their headquarters in the United States. Companies with global headquarters, like the Australian company Redbubble Ltd. and the Norwegian company Gelato, both have fulfillment centers in North America.
Asia-Pacific is anticipated to grow at the most significant CAGR of 27.9% during the forecast period. The presence of significant market participants can be credited with contributing to the rise. It is anticipated that technological advancements and the presence of numerous sizeable textile facilities will aid in the market's growth.
The global print on demand market’s major key players are