The global variable data printing (VDP) market is expected to witness a CAGR of 17.62% during the forecast period to reach a market size of US$29.255 billion by 2023, rising from US$11.050 billion in 2017.
The market will observe a high growth rate owing to its more desirable printing quality which is both time and cost efficient. Variable data printing also covers the serialized number printing with customized product details.
VDP uses highly effective software which accesses data from the smart devices and other digital printing devices to produce high-quality printing as compared to the traditional offset printing. VDP possess several levels which include changing the name or salutation on different copies, versioning, which is more complex as it involves different amounts of customization, and lastly, full variable printing which can alter images and texts for each customer address. The global variable data printing market is anticipated to witness a phenomenal growth in the upcoming years owing to its high adoption rate and rise in digitalization.
Some of the major players of VDP market include HP Inc., 3M Company, Canon Inc., Xerox Corporation, WS Packaging Group, Inc., Mondi Plc, Quad/Graphics Inc., R.R. Donnelley & Sons Company, Cenveo, Inc., and Avery Dennison Corporation.