Yes somewhere in the middle future
As Doc I grow up fixing consumer and industrial electronics. Half of my life in Europe the other here in the USA. 60% junk mail offset printing and 30% magazine printing will leave 10% book printing standing from my point of view.
I can track your consuming behavior on-line, at your phone cheaper, faster, better. I pamper you in the same way with bloggs, social network sites to give your soul a virtual warm hugs and kisses home. Never possible with ink on paper!
Packaging offset gravure or flexo will remain for a long time.
Specialty catalogs and books are second. No tablet computer makes you a traditional book reader, collector. The shelves have to bend some more for a while.
The dumping pricing of the printing industry users and their supplier have killed profit margins for years. Excel sheet MBA management created monster companies with poor client service and high pricing in long turn around cycles.
There the Speedy Digital Printers came in. Faster, nicer and friendlier.
Randolph Hurst in the 20s wanted the Newspapers to be detail papers as Newsweek; People and others did later. The News comes and goes in minutes via the Internet.
Future generations will enjoy more the total Mc Donaldisation of society. Instant quick and forgettable.
R.I.P. Johannes Gutenberg with your press
Sources - http://www.zdnet.com/blog/doc/will-inkjet-printing-kill-offset/1493