Pune, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Market size & Growth Analysis
As Per the SNS Insider Research, “The Large Format Printer Market was valued at USD 8.61 billion in 2023 and is expected to reach USD 13.32 billion by 2032, growing at a CAGR of 4.99% over the forecast period 2024-2032.”
Large format printers are essential for producing banners, posters, signage, and other promotional materials, making them indispensable in the advertising and marketing industries. With offline marketing on the rise, banner printing in the United States is expected to increase substantially. Banner advertising is expected to boom 31.1% from 2023 to 2028, rising by USD 19.5 billion and leading to a projected peak of USD 82.19 billion in the year 2028. This rise in advertising spend reflects a broader trend towards visually engaging marketing, demonstrating that large format printers play a crucial role for businesses looking to create eye-catching banners, signs, and points of sale. For one, photographers and studios will want to use the features of high-resolution digital cameras with large format printers. Printing technology trends such as eco-friendly inks and faster print speeds not only pave the way for large format printers but enhance their strategic relevance in staying adaptive to a visually oriented market trend by increasing efficiency on all fronts. Overall, the future looks promising for the space as there will continue to be a union of continued digital advertising expansion and wide format printing.
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Leading Market Players Listed in this Research Report are:
- EPSON (SureColor P8000, SureColor T3170)
- Fujifilm Holdings Corporation (Acuity Ultra, Uvistar Pro8)
- Hewlett-Packard (HP) (HP DesignJet T1600, HP Latex 800W)
- Konica Minolta (AccurioWide 200, AccurioPress C6100)
- Xerox Corporation (Xerox Color 800i Press, Xerox Wide Format IJP 2000)
- Kyocera Corporation (TASKalfa 6002i, TASKalfa 4002i)
- Roland Corporation (VersaEXPRESS RF-640, VersaUV LEF-200)
- Mutoh (ValueJet 1624X, ValueJet 1638U)
- ARC Document Solutions (SmartSet Pro, ARC Large Format Printer)
- GFA-GEVAERT (GFA GEVAERT Inkjet Printer, GFA GEVAERT Media)
- Mimaki Engineering (Mimaki JV300-160, Mimaki UCJV300-160)
- Lexmark (Lexmark C935, Lexmark CX927de)
- Agfa-Gevaert (Anapurna H2500i LED, Jeti Tauro H3300 LED)
- Durst Phototechnik (Rho 1312, Rho 2500)
- DILLI Illustrate (Dilli Neo 320TX, Dilli S3208U)
- SwissQprint (Nyala 2, Oryx 2)
- Canon Inc. (imagePROGRAF PRO-4000, imagePROGRAF TA-20)
- Ricoh (Ricoh Pro L5160, Ricoh Pro C5300s)
- Brother Industries (Brother GTXpro, Brother PR1050X)
- Seiko Instruments (Seiko ColorPainter H2, Seiko ColorPainter M-64s)
Segment Analysis: Uncovering Critical Growth Areas in the Competitive Market Landscape
By Ink Type: Solvent inks accounted for the largest market share of 37% in 2023 since they are highly versatile and robust. This solvent suspension in colored inks is great for outdoor and can be used directly on materials such as vinyl, canvas, and banner media. Available in eye-pooping and vibrant colors, they are not only waterproof but UV resistant material that can handle some weather making them ideal for advertising.
By Material: Porous dominated the market holding a 58% market share in 2023. There is a lot of growth in this space due to the need for high-quality visuals and prints in industries such as fashion, interior design, event promotion, etc. They have porous surfaces for better absorption of ink, producing more vivid colors and clearer image characteristics that are quite useful with banners, wallpapers, or backdrops.
By Connectivity: In 2023, the market was dominated by the wired segment with a 62% market share, owing to improved performance and higher quality of results. Thus, wired printers come into play when the data transfer needs to be more accurately maintained while printing large files in professional fields like graphic design and architecture. The durability of wired connections lowers the latency and the interference making this useful in highly sensitive environments like print shops and advertising agencies.
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Key Market Segments:
By Ink Type
- Solvent
- Aqueous
- UV cured
- Dye Sublimation
- Latex
By Material
- Porous
- Non-porous
By Connectivity
- Wired
- Wireless
By Technology
- Ink-based
- Toner-based
By Print Width
- 17”-24”
- 24”-36”
- 36”-44”
- 44”-60”
- 60”-72”
- 72” and above
By Application
- Décor
- Apparel and Textile
- Signage and Advertising
- CAD and Technical Printing
- Others
Comprehensive Regional Analysis: Understanding Market Opportunities
In 2023, North America held a market share of 36% and led the market, due to its cutting-edge technologies and significant investments in printing solutions. Top companies such as Epson, Canon, and HP are situated in the region, contributing to a robust supply chain and distinctive product options. The rising demand for high-quality graphics in industries like advertising, textiles, and architecture is fueling market expansion.
The APAC region is expected to experience rapid growth between 2024-2032, as a result of quick industrialization, urbanization, and a growing emphasis on high-quality printing choices. Countries like China, India, and Japan have seen a rise in demand for large printers in various sectors such as advertising, textiles, and manufacturing. Ricoh, Mimaki, and Roland DG are utilizing this growth to offer diverse printing options tailored to specific regions.
Recent Developments
- September 2023: Epson launched its new SureColor S-Series printers, designed to enhance production capabilities for signage and graphics.
- August 2023: Canon introduced the imagePROGRAF GP Series, featuring new pigment inks for improved color accuracy and vibrancy.
- July 2023: HP released the HP Latex 700 and 800 printers, which offer sustainable printing solutions for a variety of applications.
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Future Trends
The Large Format Printer Market is on an upward trajectory, driven by technological advancements and increasing demand across various industries. Companies are likely to focus on sustainability and customization in their offerings, further propelling market growth.
| Trend | Description |
| Eco-Friendly Inks | Increasing use of biodegradable and sustainable ink options. |
| Automation | Growing demand for automated print production processes. |
| Customization | Rising need for personalized and on-demand printing solutions. |
| Integration with IoT | Enhanced connectivity and remote management capabilities. |
| Expansion into New Materials | Utilization of innovative substrates for diverse applications. |
Table of Contents - Key Points Analysis
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Sales Volume and Revenue
5.2 Product Segment Performance, by Region
5.3 Technological Adoption Rates, by Region
5.4 Supply Chain Metrics
6. Competitive Landscape
7. Large Format Printer Market Segmentation, by Ink Type
8. Large Format Printer Market Segmentation, by Material
9. Large Format Printer Market Segmentation, by Connectivity
10. Large Format Printer Market Segmentation, by Technology
11. Large Format Printer Market Segmentation, by Print Width
12. Large Format Printer Market Segmentation, by Application
13. Regional Analysis
14. Company Profiles
15. Use Cases and Best Practices
16. Conclusion
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