Business Outlook
The COVID-19 pandemic caused macroeconomic downturn and weakened domestic demand which impacted the print media and publishing industries negatively. While both industries are challenged by the rise of digital media, the print media industry remains steady in provision of necessities like package products. Innovative products, flexible and agile print solution was especially demanded and fulfilled by digital printing as online consumption became widely accepted under the new dynamic. Migration to Industry 4.0 would be the next directive for large manufacturers to utilise Internet of Things (IoT) and smart data to optimise production. The industry would require a strong team of print technologists and digital talents to formulate the plan for digital transformation.
Publishing events and activities were affected during the pandemic yet catalysed readers to buy books and learn online. The publishing industry develops further on electronic publishing and learning materials with multimedia features like AR and VR to enhance reading experiences. In long term, Artificial Intelligence (AI) technology would be adopted in e-learning materials to customise learning experience and improve students’ learning effectiveness.