2020 was a challenging year for businesses and individuals alike. However, as the economy begins to open up completely across the nation in 2021, things are looking up. In fact, the global growth for 2021 is projected to be 5.6% which is a massive rebound from a difficult year. This presents a number of opportunities for businesses across all industries and there will be unprecedented need for printed materials.
Just as the manufacturing industry was getting back on its feet from the recession in 2008, the coronavirus pandemic hit, throwing a proverbial wrench in the works. Supply chains were disrupted, businesses and warehouses were shut down, and employees were unable to work due to illness. These factors led to a steep decline in industrial production in the United States, a trend precipitated by a dip in orders and also manufacturing employment levels.
Many factors are converging to redefine how engineering firms operate in the new millennium. Recently, the engineering industry has taken a turn toward a more digital environment, with many companies using virtual platforms and new technology to connect teams, touch base with clients, and keep projects more cost-effective.
As the global large format printer market is poised to expand by 3.2% CAGR from 2021-2026, more companies are taking advantage of the huge range of options this printer can bring to enterprises, both large and small.
The entry cost and operating cost of wide format printing has never been lower. Organizations can take control of their own marketing, both external and internal, for as little as $100 per month. Because of this, large format printing is an advertising medium that has been growing in popularity.