Things change. For example, consider this quote from the 2054 Merriam-Webster Dictionary: “Football (/fo-ot-bôl/) Any of several games played between three teams on a triangular field having goalposts at all three sides, and whose object is to get the ball over a goal line, into a designated goal by running or kicking.”
Wow! How did football change so dramatically? No passing? It seems disruption was at hand.
So, what is disrupting the wide-format segment? In preparation for the 2024 State of the Industry Report, published by PRINTING United Alliance earlier this year, survey participants were asked what they believe to be the industry’s next disrupting forces.
Artificial Intelligence
Described as a “game changer,” AI is the most frequently cited disruptor. AI is obviously at the forefront of everyone’s mind, and survey participants see it as reaching far beyond production and workflow to all disciplines and all areas of the company. How is your company approaching AI?
Government
Regulations and proposals to regulate the printing industry can profoundly disrupt PSPs and equipment and materials manufacturers. While some proposals, including those that aim to restrict carbon black, may be “uninformed,” their ability to disrupt
is apparent.
Technology
Participants cited new technologies as disruptors that allow them to create better workflow connections with their customers. Those who adopt new technologies like e-commerce solutions and maximize their benefits can genuinely gain a disruptive advantage.
Data
Even though access to vast amounts of data is available to most, not everyone can find meaning in it. For instance, by using AI algorithms for efficient data analysis, forecasting of client preferences, and market potential, companies can harness data to make better decisions.
Change in How Businesses and Consumers Use Print
As marketing becomes more deeply targeted and expectations of print change, opportunities to work differently come to the fore. Further, the rise of digital fatigue among consumers is driving marketers toward new approaches, such as experiential marketing.
Market-specific Disruptors
One survey participant — a wide-format producer — said the struggles of commercial and office space and the changing nature of the workplace brought opportunities to help them rebrand and reconfigure. Accessing these opportunities requires different approaches.
Sustainability
Pressure to move toward sustainable solutions comes from three key directions: the customer, societal pressures, and environmental policies, such as extended producer responsibility (ERP) requirements. Those who can embrace this disruptor to their advantage can
truly benefit.
Economy
Global, national, or local economies can have a profound disruptive effect. Inflation and interest rates can change how we perceive our industry and its opportunities. The choices we make to prepare for or respond to these factors will define our business futures.
Choose Carefully
In general, whether these disruptors will impact your business will depend on how they disrupt the printing industry and the wide-format segment. The degree to which they will “rock your world” will rely wholly on your company’s ability to anticipate, plan, and pivot.
While the ways our industry will be disrupted are yet to be seen, we can share just a bit about the future. The winner of the 2054 Crypto/GPT Super Bowl will be the Boise Power Trout, formerly the Miami Dolphins, who were relocated after the inundation of Miami. Score: 31-17-14. ●
