Digital Printing Market
Growth Factors of Digital Printing Market
The digital printing market size was valued at USD 35.77 billion in 2022, and the market is now projected to grow from USD 39.63 billion in 2023 to USD 87.21 billion by 2032, exhibiting a CAGR of 11.9% during the forecast period of 2023-2030.
The outbreak of COVID 19 affected the global print industry largely and affected the demand for customized printing as the countries went into lock down. School closure and home schooling reduced greatly the book market as well as the shift to computers lessened the demand for books. As such, the lowered usage of Books, Mags, Photo is with personalized touch, Banners etc dampened the prospects of digital printing to grow.
There is a growing concern because the customers buying behaviors are changing quickly in the label printing sector thus a need for customized labels. This has put pressure on printing to be faster and more efficient, and in turn, has made enterprises turn to digital systems of printing. Such systems allow for faster deliveries that meet the customer needs’ specifications as well as offer a broad assortment of characteristics. Consequently, important market players have more opportunities to satisfy the emerging needs of the digital printing market.
Growing worries over global warming and the emergence of schemes such as Red Alert are pushing organizations in numerous sectors to corporate sustainability. In the printing sectors, customs believe that the green print initiatives will positively impact on the market in terms of the demand toward digital print by the end-users. This shift is covered to enhance the market share for digital printing in the future years as digital printing helps to eliminate waste and enhance efficiency. As a result, it helps to decrease the negative impact on the environment, which can be benefited from, when speaking about sustainable development.
Comprehensive Analysis of Digital Printing Market
The digital printing market growth is rising at an exponential rate due to its market segmentation. This market expansion rightly presents a detailed local analysis based on the forces such as supply and demand which define the industry. These segmentations are methodically segregated by print-head type analysis, by application analysis, and by end-user analysis. By print-head type analysis include inkjet, laser, and digital press. By application analysis include paper, textile, glass, plastic film, thick cardstock, and others. By end-user analysis include publishing (books, magazine, and newspapers), clothing, packaging & label, and others (ad and media printing).
The North America region lead the digital printing market share by benefitting a market size of USD 17.44 billion in 2022 due to adoption of innovative digital technologies across various industries.
The top players have a significant responsibility in the information & communication technology industry for confirming industrial prospectus growth and determining the market trends. These players include Canon Inc., Smurfit Kappa Group PLC, ARC Document Solutions LLC, Epson Co., Ltd, Ricoh Co., Ltd, Xerox Corporation, Hewlett-Packard Development Company, L.P., DIC Corporation, Mimaki Engineering Co., Ltd., Flint Group these market players provide a level-playing competitive landscape.
In September 2023, ARC Document Solutions LLC jointly collaborated with Canon Solutions America to acquire an Arizona printing system to boost the digital color printing services thereby to improve its technology-based services in its portfolio.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2017-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2017-2021
Growth Rate CAGR of 11.9% from 2023 to 2030
Unit Value (USD Billion)
Segmentation By Print-head Type
Inkjet
Laser
Digital Press
By Application
Paper
Textile
Glass
Plastic Film
Thick Cardstock
Other (Photo Publishing, etc.)
By End-user
Publishing (Books, Magazine, Newspapers, etc.)
Clothing
Packaging and Label
Others (Ad & Media Printing, etc.)
By Region
North America (By Print-head Type, By Application, By End-user, and By Country)
- U.S. (By End-user)
- Canada (By End-user)
- Mexico (By End-user)
South America (By Print-head Type, By Application, By End-user, and By Country)
- Brazil (By End-user)
- Argentina (By End-user)
- Rest of South America
Europe (By Print-head Type, By Application, By End-user, and By Country)
- U.K. (By End-user)
- Germany (By End-user)
- France (By End-user)
- Italy (By End-user)
- Spain (By End-user)
- Russia (By End-user)
- Benelux (By End-user)
- Nordics (By End-user)
- Rest of Europe
Middle East and Africa (By Print-head Type, By Application, By End-user, and By Country)
- Turkey (By End-user)
- Israel (By End-user)
- GCC (By End-user)
- North Africa (By End-user)
- South Africa (By End-user)
- Rest of MEA
Asia Pacific (By Print-head Type, By Application, By End-user, and By Country)
- China (By End-user)
- Japan (By End-user)
- India (By End-user)
- South Korea (By End-user)
- ASEAN (By End-user)
- Oceania (By End-user)
- Rest of Asia Pacific
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