13 Oct 2020
Stimulus Packages and Government Policies Will Drive the Recovery of the Industrial Printer Market in Thailand, says IDC
BANGKOK, October 14th, 2020 - According to the IDC Worldwide Quarterly Industrial Printer Tracker, graphics product of industrial printer tracker showed significant decline in the 2020H1 period by -33.96% from 2019H2 and -36.72% YoY. The hardest period for all graphic printing industry players was during countrywide lockdown since March to June.
The Thai government approved two additional stimulus packages worth 22.4 billion baht to revitalize domestic tourism as it has been left reeling from the COVID-19 pandemic “Happiness-sharing trips” package worth 2 billion baht to subsidize domestic flight fares, inter-provincial bus fares, and car rental fees for a total of 2 million people during July until Oct 2020.
“Print service providers started to invest in new graphic printers machine for signage, sticker, indoor printing and photography application, but the low print volume demand has caused numerous delays for these investments,” says Puwanart Pientanyakij, Market Analyst for IPDS at IDC Thailand.
Graphics printer shipments are expected to grow from almost 1,900 units in 2020 to over 2,400 units in 2022, a 21.5% growth YoY. Aside from the long term mega plan, Eastern economic corridor to persuade new foreign investors to open business will create new infrastructure, community engagement, and a number of graphic printing projects (e.g. billboard, indoor printing promotion, and etc.).
Moreover, the government has a plan for reopening country aimed at international visitors looking to stay a while. It’s not quite a work-from-elsewhere package, but the country is offering a special tourist visa up to 90 days. The policy is expected to launch in 2020Q4. This policy to activate tourism will fuel graphics printing demand from one tambon one product sticker, aka OTOP sticker, photography, signage and billboard.
The provinces that are expected to see fast recovery are Bangkok, Pattaya, Changing Mai, Phuket and Khonkaen. These provinces are not only main tourism province but also has large number of print service provider.
About IDC Trackers
IDC Tracker products provide accurate and timely market size, vendor share, and forecasts for hundreds of technology markets from more than 100 countries around the globe. Using proprietary tools and research processes, IDC's Trackers are updated on a semiannual, quarterly, and monthly basis. Tracker results are delivered to clients in user-friendly excel deliverables and online query tools.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading tech media, data and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights: http://bit.ly/IDCBlog_Subscribe.
Copy the following code into your site
- Wave 12: The Latest Wave Data Transitions to Next Year by Asking About COVID-19's Impact on 2021 Printer Spending Trends
- COVID-19's Impact: The Acceleration of Automation Amid a Pandemic
- HP's Healthcare Edition of MFP Products, Solutions, and Services Target Wellness and Safety Challenges in Healthcare Under COVID-19