The global Digital Printing Market has a value of approximately USD 30.9 million. This market is projected to continue growing at a rapid pace in the future, with a CAGR of approximately 7.5% for the period 2023-2029.
Luton, Bedfordshire (UK), February 24, 2023 (GLOBE NETWORKIRE) — Exactitude Consultancy is the market research and consulting arm of Ameliorate Digital Consultancy Private Limited. It has published the final version of its detailed research report about the Digital printing Market.
Digital printing market overview:
The Digital printing market It is a digital printing technology that allows you to directly print on a variety of media using digital files. This printing technology offers many advantages over traditional methods such as flexibility and faster turnaround times, lower print costs, customization options, and lower cost for smaller jobs. Global digital printing has experienced rapid growth in recent years due to the growing demand for customized, high-quality, affordable printing solutions.
The market for digital printing is segmented according to the following: printing technology, ink type and substrate type, application, geography, and so on. Digital printing uses inkjet, electrophotography, and inks such as solvent, UV-cured, aqueous and solvent. Substrate types are paper, textiles and ceramics. Digital printing can also be used for commercial printing, packaging, marketing and advertising.
There are many factors that drive the market, such as the rising demand for personalized and high-quality prints, faster turnaround times and increasing adoption of digital printing across various industries. The digital printing market will continue to grow due to the development of advanced technologies like 3D printing or hybrid printing.
North America is North America’s largest market for digital printEurope followed closely by Asia-Pacific and Europe. Due to the growing adoption of digital printing in India and China, the Asia-Pacific region will experience the fastest growth over the forecast period.
Overall, Digital printing is set to see strong growth over the next few years. This is due to increasing demand for personalized, high-quality printing solutions and faster turnaround times.
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Report Scope of the Digital Printing Market:
|
Report Coverage |
Details |
|
Market Size for 2022 |
USD 30.9 billion |
|
Market Size for 2029 |
USD 48.2 Billions |
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From 2023 to 2030, Growth Rate |
7.5% |
|
Base Year |
2022 |
|
Forecast Period |
2023 to 2029 |
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Market by Ink |
|
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By Printheads |
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Substrate |
|
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Market Players |
Hewlett-Packard Development Company, Canon, Ricoh Company, Mimaki Engineering Co., Ltd, Roland Dg Corporation, Seiko Epson Corporation, Durst Phototechnik Ag, Electronics for Imaging, Inca Digital Printers Limited. |
Digital Printing Market Dynamics
Driver: The development of the packaging and textile industries
The textile industry is constantly evolving. Companies used technologies to serve niche markets in the past. Multinational brands now incorporate new technologies for the whole market.
To meet increasing demand, manufacturers are developing textile-specific printing systems. The textile printing market is seeing a rise in digital printers due to the new sustainable ink technologies.
The clothing market is the largest, with two types of apparel: sportswear and fashion. Also, digital printers can be used to print smaller designs on garments like T-shirts, dresses, promotional wear, and textiles.
Restrictions: High initial investment
Digital printers have higher initial costs and ongoing maintenance. Digital printers are complex in design. Different applications need different toners. Inkjet technology also has a high cost.
Potential: An increase in demand for the in-plant market
The in-plant printing department must expand its services because of the intense competition in the industry and the increasing demand from parent companies.
The in-plant printing market currently offers value-added service, which can include scanning and archiving, as well as garment printing. These services can be provided by the large-format, digital printer.
ChallengeRising demand for digital ads and e-books
Digital delivery of data and documents is becoming more popular, which will reduce the need to print certain products like directories, financial documents or advertisements. Many websites provide online access to public domain material. These sites offer e-books and novels as well documents for educational and recreational use.
Printing businesses are facing a challenge because of the increasing demand for e books. Traditional publishing companies are also affected by self-publishing ebooks. Authors can instantly publish their books online and make them easily accessible to all. Digital printing is now facing an enormous challenge because of the explosive growth in e-books.
The full report is available at: https://exactitudeconsultancy.com/reports/2078/digital-printing-market/
American Digital Printing’s Future Opportunities and Key Trends
The rising demand for personalized goods, technological advances, increased e-commerce adoption and increasing marketing and advertising spendings are expected to drive America’s digital printing market. These are all factors that will help to expand the market for digital printing services at a reasonable price and of high quality.
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