Madison Advisors (Colleyville, Texas) has released a new research study titled Color Print Migration Market Update 2017. The report provides an overview and analysis of colour inkjet technology adoption by both print service providers and enterprise in-plants over the last five years, compared to expectations. The report also supports Madison Advisors’ view that print will experience a revival thanks to colour inkjet technology available in the market today. “Our latest research reveals that adoption of colour has grown, but not as fast as anticipated,” said study author Gina Ferrara, Senior Analyst at Madison Advisors. “The data uncovered that 62% of the total images produced in 2016 by printers and enterprise in-plants combined were still monochrome. This shows there’s plenty of opportunity for colour inkjet printing to penetrate the transactional printing industry,” she added. Some key observations in the study include:
- Printers produced the majority of image volume – 81% of the total image volume was produced by print service providers, despite the equal number of service providers and enterprise in-plants involved in the study.
- The use of colour is not volume-dependent. With only 3% of the total image volume, broadband/cable had the highest use of colour at 9%. Banks represented close to 25% of the image volume – and yet 54% of those images were monochrome.
- There have been notable increases in the insurance and healthcare verticals. Although the insurance and healthcare verticals still continue to lag, their combined use of colour increased to 16.3%, up from 5% in 2011.
- There’s still a huge opportunity for colour inkjet growth. Of the total 39.78 billion images accounted for in this research, approximately 62% were monochrome, indicating that there’s still a significant market opportunity for colour inkjet.
Madison Advisors has also observed the industry’s migration from monochrome to full colour over the past decade. The report uncovers why many print service providers and in-plants have been slow to convert their transactional communications from monochrome to colour. The analysis also examines the unexpected challenges and benefits of investing in colour inkjet technology – as well as its impact on a multi-channel customer communications delivery strategy. Madison Advisors specializes in offering context-specific guidance for a range of content-delivery strategies – particularly those addressing enterprise output technologies and print and electronic customer communications. Its technology and market research is delivered through short-term project engagements as well as articles, publications and presentations. In addition, the company assists its clients with deploying selected solutions “not typically found with consulting generalists or other analyst firms.”