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| Global Digital Printing Market |
Market Overview:
The global digital printing market is projected to reach a value of US$ 27.35 Billion in 2023 forecast
period of 2023 to 2030. Digital printing refers to the method of printing
digital-based images onto various media. This technology offers several
advantages such as shorter turnaround time, cost-effective production,
customization, and high-quality prints. The need for digital printing is
associated with the growing preference for personalized and customized products,
increasing demand for short-run print jobs, and the ability to produce
high-resolution prints. These factors are driving the growth of the digital
printing market globally.
Market Key Trends:
One key trend in the digital printing market is the increasing adoption of
UV-curable inks. UV-curable inks offer various advantages such as fast curing
time, high durability, enhanced color gamut, and resistance to outdoor
conditions. These inks are widely used in the signage and advertising industry,
as they enable printing on various substrates like glass, wood, metal, and
plastic. Additionally, UV-curable inks are eco-friendly, as they do not release
any volatile organic compounds (VOCs) during the curing process. The growing
demand for UV-curable inks is attributed to their ability to achieve vibrant
colors, fast production speeds, and print quality that can withstand harsh
weather conditions. This trend is expected to positively influence the digital
printing market in the coming years.
Segment Analysis:
The Global
Digital Printing Market can be segmented based on technology,
application, and geography. In terms of technology, the market can be divided
into inkjet printing and laser printing. Inkjet printing is the dominating
sub-segment in the digital printing market, holding the largest market share.
This can be attributed to the advantages offered by inkjet printing such as
high-quality prints, lower cost per print, and versatility in printing on
various materials. Inkjet printing technology is widely adopted across various
applications such as advertising, packaging, textiles, and décor.
Key Takeaways:
The global digital printing market is expected to witness high growth,
exhibiting a CAGR of 18% over the
forecast period. This growth can be attributed to increasing demand for digital
printing in various industries such as advertising, packaging, textiles, and
signage. The ability of digital printing to offer customization, shorter
turnaround times, and cost-effectiveness compared to traditional printing
methods is driving its adoption.
In terms of regional analysis, North America is expected to be the
fastest-growing and dominating region in the digital printing market. This can
be attributed to the presence of key players in the region, technological
advancements, and the increasing demand for digital printing in sectors such as
advertising, packaging, and textiles. Europe is also expected to witness
significant growth in the market, driven by the flourishing advertising
industry and the increasing adoption of digital printing technology.
Key players operating in the digital printing market include Canon, Brother
Industries, Hewlett-Packard Development, Printronix, Ricoh Digital Painting
Company, Inca Digital Printers Limited, Mimaki Engineering, Electronics For Imaging,
Roland Dg Corporation, Durst Phototechnik AG, Xerox Corporation, and Seiko
Epson Corporation. These companies are focusing on product innovation,
strategic partnerships, and mergers & acquisitions to strengthen their
market presence and gain a competitive edge. With the increasing demand for
digital printing, these key players are expected to witness significant growth
and maintain their market position.
Read More: https://www.dailyprbulletin.com/digital-printing-market-size-share-and-growth/