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ResearchAndMarkets.com recently released their “Print Advertising Distribution Global Market Report 2020-30: COVID-19 Growth and Change.” The analysis aims to provide strategists, marketers and senior management with the critical information they need to assess the global print advertising distribution market.
According to the report, the global print advertising distribution market is expected to decline from $15.4 billion in 2019 to $14.4 billion in 2020 at a compound annual growth rate of -6.5%. Unsurprisingly, the decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges.
The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to reach $14.25 billion in 2023 at a CAGR of -0.35%. Internet access, digital advertising, and social media are playing as huge contributors to the decline in print advertising distribution.
The Asia-Pacific was the largest region in the print advertising distribution market in 2019 and is expected to remain the largest region in this market even in the forecast period.
The report stated that the revenue of the print advertising distribution market is expected to decline due to mass business closures that are limiting the growth of the market. According to CNN Business, in 2019, US retailers announced 9,302 store closings, which is a 59% jump from 2018, majorly due to bankruptcy.
The launch of augmented reality is gaining popularity in the print advertising distribution market. Major players operating in the industry are continuously focused on introducing innovations and technologies to better serve the needs of consumers.
For instance, in 2018, Adweek reports the number of augmented reality users is projected to hit 200 million. The augmented reality trend of combining print with digital is a new way to connect with users. This combination has been spawning some incredible campaigns which offer advertisers new opportunities to create a virtual shop window on any printed marketing material.
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