Large-Format Printer Market Projected to Grow at Steady Clip, High Growth for Inkjet
The large-format printer market is being projected to grow at a steady clip, fueled by increasing demand for large format printing in the textile, advertising, and packaging industries, and the rising adoption of UV curable inks in outdoor advertising, CAD (computer assisted design), and technical-printing applications, according to market-research firm Report Buyer.
The large format printer market is expected to grow from $8.37 billion in 2017 to $10.59 billion by 2023, at a compound annual growth rate (CAGR) of 4.00 percent between 2017 and 2023. However, major restraining factors for the growth of the large-format printer market include high initial investments and operating costs
Large-Format Printer Market for RIP Software expected to Grow Highest
Raster image processor (RIP) software offerings for large format printer is the fastest-growing segment, according to Report Buyer. It helps in effective processing of files, which makes large=format printers work faster and more consistently, which is very important for printing on different materials such as plastics, textiles, and other materials. With a dedicated RIP program, which is capable of processing larger files, print-management tasks become much easier; it also enables users to multitask, thereby increasing process efficiency
Large-Format Printer Market for Inkjet-Printer Expected to Grow Highest
Report Buyer forecasts that the market for ink-based (inkjet) printer technology is expected to grow at the highest rate during the 2017 to 2023 period. One of the major reasons for the higher growth of the market for inkjet printers is the increasing use of inkjet large-format printers for technical and CAD printing. Inkjet printers are said to provide reduced running costs for large-format printing, which has led to the widespread adoption of inkjet printers in this industry
The large format printer market in the APAC (Asia-Pacific) region is expected to grow at the highest rate between 2017 and 2023.
Countries such as Japan and South Korea are already developed economies, and the People’s Republic of China had been the fastest-growing economy in the world for the last two decades. According to Report Buyers, there’s “likely to be a tremendous demand for large-format printers in the region during the forecast period because of high growth in graphic printing, apparel and textile printing, and CAD and technical printing.”
APAC produces a large amount of apparel and textiles, and this sector is expected to grow steadily in this region. Significant growth is likely to be witnessed in advertising and signage in India mainly due to the booming economy.
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, Report Buyer conducted extensive primary interviews with key experts. The breakup of the profiles of primary participants is as follows:
- By company type: Tier 1—45 percent, Tier 2—35 percent, and Tier 3—20 percent
- By designation: C-level executives—35 percent, directors—25 percent, and others—40 percent
- By geography: Americas—45 percent, Europe—20 percent, APAC—30 , and RoW (Rest of World) —5 percent
Companies that provide a range of customized solutions to customers are expected to emerge as the game changers.
This report profiles some of the following key printer manufacturers in this market:
1. HP Inc. (U.S.)
2. Canon (Japan)
3. Epson (Japan)
4. Mimaki Engineering (Japan)
5. Roland (U.S.)
6. Ricoh (Japan)
7. Durst Phototechnik (Italy)
8. Xerox (U.S.)
9. Konica Minolta (Japan)
10. Agfa-Gevaert (Belgium)
11. Electronics for Imaging (EFI) (U.S.)
12. Kyocera (Japan)
13. Lexmark International (U.S.)
14. Mutoh (Japan)
15. ARC Document Solutions (U.S.)
The complete report can be purchased here.
- March 2017: Global Large-Format Printer Market Shows Healthy Gains; HP Remains Leader
- September 2016: IDC: Global Wide-Format Printer Market Sees Small Uptick in Second-Quarter 2016