In the dynamic realm of industrial printing, HP continues to lead the market, witnessing growth and increased market share in both the commercial and label/packaging segments. Mr. Haim Levit, Senior Vice President & General Manager, HP Industrial Print shared valuable insights into the trends shaping the market and HP’s proactive response to these changes.
Macro to Micro Trends:
Post-COVID, the industrial printing market is experiencing a nuanced recovery. The label and packaging sector, a key focus for HP, is rebounding compared to the previous year. HP sees this quarter as a pivotal moment, marking its return to growth, with an optimistic outlook for the future.
Haim delved into the macro trends catalyzed by the COVID-19 pandemic, emphasizing the acceleration of customization, personalization, short runs, no inventory, e-commerce, and automation. These trends are significantly reshaping the digital printing landscape, especially in the label and packaging space. HP is aligning its product portfolio with these trends.
India Market Potential:
India stands proudly among the top 5 economies globally, and within this vibrant landscape, HP has consistently recognized and harnessed the potent force of India’s economic potential. The symbiotic relationship between HP’s growth and the nation’s overall prosperity is evident, creating a dynamic cycle where our success mirrors the advancement of the country. Across diverse sectors, we are witnessing robust business growth, particularly among Small and Medium-sized Enterprises (SMBs). These enterprises, severely affected by the pandemic, are embracing the imperative of digital transformation to elevate their products and services from local to national and global markets. The surge in demand for printing signifies more than just an uptick in numbers; it encapsulates the unfolding success stories of a thriving economy.
In our unwavering confidence in the Indian market, HP is poised to tap into substantial potential, notably within the commercial and label/packaging sectors. The escalating volume of printed pages in the country serves as a tangible testament to the positive trajectory of India’s business landscape. As India progresses, so does HP, and we are resolute in our commitment to further investment, innovation, and collaborative growth in this dynamic and promising market.
Drupa Event Anticipation:
Haim shared HP’s excitement about the upcoming Drupa event, scheduled for the end of May and the beginning of June. The Inkjet technology-based product has propelled HP from being the fourth to the second-largest player, increasing market share by 10 points, from 13% to 23%. Additionally, the Indigo side introduced the 200k for the flexible packaging market, and the highly anticipated V12 digital press is in beta phase.
HP’s commitment to sustainability is evident, both in current products and future designs. Sustainability is embedded in the initial stages of product conception, reflecting a holistic approach. The Drupa event will showcase HP’s focus on automation, with hardware and software innovations. The booth will simulate a printing shop, demonstrating the future of digital production with a strong emphasis on sustainability.
Consumer Photo Printing Market:
In the realm of consumer photo printing, HP recognizes and embraces the enduring significance of this market. Projections anticipate a steady annual growth of 5%-6%, a testament to the recovering global economy and the consumers’ renewed enthusiasm for investing in photo-related products. Notably, weddings have become a captivating catalyst, rekindling the allure of photo albums, with India standing out as the largest Professional Photo Printing market for HP Indigo worldwide.
Over the last 15 years, HP Indigo presses have orchestrated a transformative journey within the photo industry. These presses, coupled with the ingenuity of our customers—the finest photo labs in the country—have reshaped the landscape for photographers. The result is a paradigm shift in the quality and longevity of photo products. HP’s commitment to innovation has manifested in world-class offerings, including non-tearable, waterproof, lightweight, and vividly colored albums designed to endure for over 200 years. This collaborative synergy between HP and our customers not only elevates the craft of photographers but also ensures that every captured moment becomes a timeless masterpiece.
