United States, Rockville MD, July 19, 2022 (GLOBE NEWSWIRE) -- A market research and competitive intelligence provider called Fact.MR states that the global Digital printer market would be worth US$ 24.65 Billion in 2022 and have a CAGR of 6.3% between 2022 and 2032. Fact.MR emphasizes that with growing usage of printing in several applications, the digital printer market is expected to witness revolution in the form of increased speed and precision.
With digitization taking over, the digital printers market is expected to grow on an impertinent note in the forecast period. Also, the fact that digital cameras are being used in an aplomb can’t be ignored. The textile industry is also into digital prints. These factors are also helping in catalysing the digital printer market.
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Sustainability has been a popular trend across the world over the past few years and is expected to only get significant over the forecast period. The demand for sustainable packaging is higher than ever before and the use of digital printers makes this possible at a reasonable cost.
Hence, as demand for sustainable packaging and printing solutions increases, it is projected to drive the sales of digital printers through 2032. UV-curable inks are anticipated to be highly popular due to their eco-friendly nature and ability to protect against UV radiation that could harm the quality of prints.
How Will the Digital Printer Industry Perform on a Regional Level?
“North America Leads Global Digital Printing Business Landscape”
The North America digital printer market currently accounts for a major market share of 32.7% and is valued at US$ 8.06 billion in 2022. Increasing focus on sustainable packaging, rapid adoption of novel printing technologies, presence of key digital printing companies, and increasing adoption of digital printers in the textile industry are major factors that influence the digital printer market potential over the coming years.
Increasing advancements in nanotechnology are projected to drive the growth of nano-graphic printing technology in this region. High investments in research and development of novel printing technologies are also projected to favour digital printer market growth.
Demand for digital printers is anticipated to soar high in the region of Europe owing to the presence of key packaging companies and increasing focus on sustainability. Germany, France, Italy, and the U.K. are anticipated to lead the growth in this region through 2032.
In 2022, the Europe digital printer market stands at a value of US$ 7.29 billion and holds a market share of 29.6% in the global industry. The demand for UV-curable inks is anticipated to be high in this region owing to their eco-friendly nature and low cost.
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Key Segments Covered in the Digital Printer Industry Survey
- Digital Printer Market by Product Type :
- Inkjet Printers
- Laser Printers
- Inkjet Printers
- Digital Printer Market by Ink Type :
- Aqueous Inks
- Solvent Inks
- UV-curable Inks
- Dye Sublimation Inks
- Latex Inks
- Others
- Aqueous Inks
- Digital Printer Market by Region :
- North America
- Latin America
- Europe
- APAC
- MEA
- North America
Market Developments
Digital fabric printing technology is the latest trend and does have a broad scope of advancement and enhancement. The market players are into exploration this to make a mark in the digital printer market.
- Kornit Digital Ltd. made its exclusive fabric printing technologies available to fashion designers, so as to make way for novel collections. Apollo DTG (direct-to-garment) system was used by designers – Nataf Hirschberg and Yanky Golian for printing blended color gradients on the garments.
- Canon, in 2021, did announce acquiring Redlen Technologies (Canada). This acquisition led them to lay their hands on the latter’s advanced radiation detection technologies and AI-imaging technology.
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Key players in the Digital Printer Market
- Hewlett-Packard Development Company
- Canon Inc.
- Seiko Epson Corporation
- Xerox Corporation
- Ricoh Company Ltd.
- Durst Phototechnik AG
- Inca Digital Printers Limited
- Printronix
Key Takeaways from Digital Printer Market Study
- North America accounts for 32.7% of the digital printer market and the market scenario is expected to remain the same even going forward.
- Europe holds the second-largest market share – 29.6%.
- Digital fabric printing technology is expected to dominate the digital printer market in the years to come.
- Sustainable packaging to take the digital screen printing market by storm in the forecast period.
- The global digital printer market is likely to reach US$ 45.41 Bn by the year 2032.
About the Technology Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned technology team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the technology industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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