CHICAGO, Oct. 24, 2023 /PRNewswire/ — The market for large format printers was valued at USD 8,1 billion In 2023, it is expected to reach US 10.4 billion by 2028, registering a CAGR of 5.0% during the forecast period according to a new report by MarketsandMarkets™. The rapid technological advancements and the high adoption rate of large format printers have accelerated the growth of this market. These printers are used in many industries including advertising, packaging and textiles. They also play a role in architecture.
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Explore the TOC in depth on “The market for large format printers”
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230 – Pages
Large Format Printer Market Report Scope:
|
Report Coverage |
Details |
|
Market Revenues in 2023 |
$ 8.1 billion |
|
Estimated Value By 2028 |
$ 10 billion |
|
Growth Rate |
Poised to grow by a CAGR between 5.0% and 6.0% |
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Market Size Available |
2019–2028 |
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Forecast Period |
2023–2028 |
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Forecast Units |
Value (USD million/billion) |
|
Report Coverage |
Revenue Forecast, Competitive landscape, Growth Factors and Trends |
|
Segments covered |
By Offering: Connectivity (printing material), Technology, Application and Regional |
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Geographical Coverage |
North America, Europe Asia Pacific and Rest of the World |
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Key Market Challenge |
Digital Advertising Media – Growing Popularity |
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Key Market Opportunities |
Demand for large format printers on the in-plant markets is increasing |
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Key Market Drivers |
Large format printers are in high demand, especially for textiles, e-commerce and retail. |
According to Ink Type, UV-cured inks are expected to grow the fastest during the forecast period.
UV-cured ink’s projected growth is fueled by its environmental friendly qualities, rapid drying capability, versatility, durability, vibrant color output, adaptability to customization, and constant technological advancements. Together, these factors promote the growth of UV-cured printing inks within the graphic arts and printing industry.
According to Technology: Ink technology held the largest share of the market during the forecast period.
The ink-based segment was the dominant technology in 2022 and is expected to remain so throughout the forecast period. Ink-based printing technology is growing in the context large format printers, due to its versatility, adaptability, reduced waste and a significantly higher growth rate.
By Application: The décor application is projected to grow at the highest CAGR during the forecast period.
The Décor segment is expected to grow at the highest CAGR during the forecast period. The high demand for large format printing in decor applications is due to the superior image quality of these printers, their optimal document size and versatility. The demand for digitally-printed products such as curtains, wall hangings and cushions, bed covers and other home decor items is also increasing.
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By Region Asia Pacific During the forecast period, the CAGR for this sector is likely to be the highest.
It is important to note that the word “you” means “you”. Asia Pacific The (APAC region) is expected to grow significantly in the large format printing industry, due to a number of key factors. This includes the rapid expansion of graphic, apparel and textiles as well as CAD and technical print sectors. Asia Pacific The apparel and textiles industry, which is one of the largest in the world, is projected to grow at a steady rate. In addition, advertising and signage are projected to experience significant growth, particularly in IndiaThe booming economy of is driving the growth in this industry. The large format printing industry has grown as a result. Asia Pacific It is anticipated to grow at the fastest rate over the forecast period.
HP Development Company L.P., Canon Inc. and HP Inc. are the major players in large format printers.Japan), Seiko Epson Corporation (JapanBrother Industries, Ltd.JapanMIMAKI ENGINEERING (JapanRoland DGA CorporationJapanRicoh (JapanDURST GROUP AGItaly), Xerox Corporation (US), Konica Minolta, Inc. (JapanGroup Agfa-GevaertBelgium).
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