- A printing service bureau provides services such as printing labels, tags, etc. to other companies for a fee. Printing service bureaus offer technology-based services to companies that do not have the capacity, scale, and technical expertise to complete these services themselves.
- A printing service bureau is considered a feasible and valuable option for those companies that find it difficult to incorporate these services themselves into their internal processes. Printing service bureaus support the management of end-to-end customer experiences and the entire service lifecycle.
- The global printing service bureau market is projected to expand at a rapid pace during the forecast period, due to increasing adoption of printing service bureaus by manufacturing sectors across the globe.
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Global Printing Service Bureau Market: Dynamics
Global Printing Service Bureau Market: Key Drivers and Restraints
- Increase in demand for cost effective operations and the need to standardize service offerings among organizations is expected to boost the printing service bureau market during the forecast period.
- Rise in demand to reduce the manufacturing cost and process downtime in the printing process is expected to boost the printing service bureau market during the forecast period globally.
- Increasing government investments in 3D printing projects and development of new industrial-grade 3D printing materials is expected to boost the demand for printing service bureaus across the globe.
- Increasing trend of 3D printing in various verticals, such as automotive, medical, aerospace, and consumer goods is anticipated to fuel the market during the forecast period.
- Growing technological advancements and changing consumer behavior has encouraged business organizations to adopt innovative printing solutions such as 3D printing to transform businesses. Thus, demand for printing service bureaus is likely to increase during the forecast period to cater to fast-changing market conditions.
- However, lack of awareness about printing service bureaus is expected to hamper the market during the forecast period.
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Impact of COVID-19 on the Global Printing Service Bureau Market
- Increase in cases of COVID-19 across the globe is resulting in economic slowdown. Developed countries are strongly affected by this pandemic. Most of the manufacturing or production of goods is temporarily suspended globally. Businesses have been adversely impacted in most countries due to partial or full lock down. This, in turn, is projected to indirectly hinder the global printing service bureau market in the next few years.
- Lack of industrial activity is expected to result in low cash flows, further impacting the funding of projects. However, companies are collaborating with technology giants to develop industrial digitalization technologies to minimize the negative consequences of the COVID-19 pandemic on the supply chain and their businesses.
North America to Hold Major Share of the Global Printing Service Bureau Market
- In terms of region, the global printing service bureau market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America dominated the global printing service bureau market in 2019, due to the significant adoption of printing service bureaus in the region. The U.S. is the key market for printing service bureau. Increasing research and development activities for the introduction of new and improved printing technologies as well as fresh print materials in the country drives the market.
- The printing service bureau market in Asia Pacific is projected to expand at a rapid pace during the forecast period. This can be attributed to growing investments by organizations on digitalization and technology deployment, which in turn increases the adoption of printing service bureaus in the region.
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Key Players Operating in the Global Printing Service Bureau Market
- 3D SYSTEMS, INC.
- Altem Technologies (P) Ltd.
- ARCAM AB
- Autodesk, Inc.
- Concept Laser GmbH
- Eos GmbH Electro Optical Systems
- ExOne GmbH
- Novabeans Prototyping Labs LLP.
- SLM Solutions GmbH
- SolidWorks Corporation, (a division of Dassault Systèmes)
- Stratasys, Ltd
- Voxeljet Technology GmbH
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