from here 2027 The Market The world of digital printing has gone from $21.2 billion in 2020 to me $34.2 billionAt a compound annual growth rate of 7.1% over the forecast period 2021-2027. Digital printing systems is an advanced printing technology that uses electronic documents understandable using computer software to print. Digital printing transfers images using digital layouts such as PDF and JIP, and other media such as paper, fabric, and ceramics. Digital printing methods are designed to provide accurate, short run and cost effective color printing in a short period of time. The digital printing system is designed to deliver high quality final products compared to offset technology. It provides an affordable solution for customized marketing materials such as business cards, direct mail, letters and more than traditional methods. In addition, digital printing shortens the production cycle and thus delivers the final product faster.
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The digital printing industry is expected to experience robust growth during the forecast period, owing to the rapid adoption of inkjet printing solutions in the packaging and paper industry with flexible and cost-effective features. Moreover, the market will be driven by an increase in the adoption of IoT and AI technologies and their successful implementation across the globe. The increasing use of digital printing in consumer electronics is expected to increase the demand for the various components of digital printing. In recent years, the main drivers of the digital printing market have been the increase in sustainable printing solutions in the pharmaceutical, healthcare, packaging and labeling industries and the need for profitable printing methods. In addition, the increasing innovation in second-level printing technology and
However, high initial investment for digital printing stations is a big challenge for this market. The growing popularity of digital document delivery is expected to reduce the demand for printing; The digitization of products such as financial documents, manuals, advertisements and books is also affecting the market.
The impact of COVID-19 on global digital printing
COVID-19 has reduced the level of market growth in 2020, and the market is estimated to grow relatively slowly until the end of 2021. COVID-19 has brought down all companies and industries including the field of digital printing. With the world slowly recovering, the way of doing business will never be the same. The COVID-19 virus has changed the market dynamics for all companies in general. Although cutting-edge technology has played a vital role in our working lives for years, it has never relied on things like video conferencing and interacting with team members. Although business printers are used less, this will likely lead to an increase in the number of home printers purchased for consumers who work from home. Printing is a must if someone needs to make hard copies of important documents. alternately,
Global digital printing market dynamics
Drivers: Developments and growing demand in the packaging and textile industries
Product packaging plays a vital role in marketing as it provides information about the quality and level of the product. Thus, manufacturers are looking for more attractive packaging for products so that they can quickly sell them in the market. With the help of high-quality graphics on substrates such as textiles, plastic films, release liners, etc., packaging can be made attractive, and this can be done with digital printers as they offer advantages such as UV-curable printing, as well as much better detail, clarity and quality than their smaller counterparts. The textile industry anticipates a range of designs and colors with a rapidly changing market. However, traditional printing methods cannot meet today’s requirements. Inkjet printing technology, which was first developed to print documents,
Restrictions: Strict government regulations, strong competition
The main challenges in the digital printing market are the increasing competition and strict government regulations on environmental safety are major impediments to market expansion. In many cases, disposal of ink and e-waste has hampered market growth, which is to be expected during the forecast period. The lack of an adequate standard system and unfavorable tax policies for different governments also hampers the growth of the market.
Opportunities: Growing e-commerce department
Digital printing is used in many e-commerce products, so the development of the e-commerce industry will lead to the growth of the digital printing market. In the global scenario, e-commerce is the widely preferred retail format, especially among young customers who tend to shop online through their devices. E-commerce and e-commerce have increased rapidly across the world, which has led to an increased need for e-commerce packaging. Suppliers operating in the local market align their activities with current market expectations. They are bringing more and more enhanced innovations in the quality of their product packaging to meet the expectations of consumers. The growth of e-commerce is expected to create profitable market opportunities during the forecast period.
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The study categorizes the digital printing market based on printhead type, ink type, application, product type, and regions.
By Outlook print head type (revenue, million USD, 2017-2027)
Forecast by Ink Type (Revenue, Million USD, 2017-2027)
- UV curable ink
- water-based ink
- solvent ink
- latex ink
- sublimation ink
By Outlook (Revenue, Million USD, 2017-2027)
- Plastic film or metal foil
- Release the lining
- the others
Forecasts by product type (revenue, million USD, 2017-2027)
- digital printers
- print head
Forecasts by Region (Revenue, Million USD, 2017-2027)
- North America (United States, Canada, and Mexico)
- South America (Brazil, Argentina, Colombia, Peru and rest of Latin America)
- Europe (Germany, Italy, France, United Kingdom, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia, New Zealand and rest of Asia Pacific)
- Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of the Middle East and Africa)
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The Inkjet segment, by print head type, accounts for the largest market share
The global digital printing market has been segmented into inkjet and laser printers. In 2020, the inkjet segment captured the largest market share with 64.51% in the global digital printing market. For home printing, an inkjet printer is a popular choice. They create images by precisely spraying thousands of microscopic ink droplets onto paper, just like TV and computer screens displaying images in thousands of pixels. Yellow, magenta, and blue ink cartridges are the most common. The printer can mix these three primary colors to create all the colors required for a print job. A component known as the print head rotates back and forth as the paper is fed through a pair of rollers, finely spraying the ink. Although this method is less complicated than laser printing, it is more susceptible to staining.
The Asia Pacific region represented the highest compound annual growth rate (CAGR) during the forecast period.
Based on regions, the global digital printing market has been segmented into North America, Asia Pacific, Europe, South America, and the Middle East and Africa. Globally, the Asia Pacific region is estimated to maintain the highest compound annual growth rate of 8.81% in the global digital printing market during the forecast period. The region includes countries such as China, India, Japan, South Korea, Australia, Southeast Asia, and the rest of Asia Pacific. The growth of the region is mainly due to the strong economic growth of emerging national countries such as China, Indonesia, Malaysia and India.
In the Asia Pacific region, Japan remains an important player in the global supply chain market. Organizations in the country are intensively mobilizing resources towards technology, for example, using multifunctional printing technology for cost-effective methods. The Asia Pacific region is expected to dominate the global digital printing market during the forecast period 2021-2026 due to increased digitization, technological developments in manufacturing, and growth in textile and other industries. China and India are major textile retailers and have the largest number of textile printing retailers. They have the largest base of textile manufacturers. These factors contribute significantly to the growth of the digital printing market in the Asia Pacific region during the forecast period.
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The main players in the market
The digital printing market is slightly concentrated in nature with a few global players operating in the market such as Canon, Hewlett-Packard Development, Ricoh Company, Mimaki Engineering, Roland DG Corporation, Seiko Epson Corporation, Xerox Corporation, Durst Phototechnik AG, Inca Digital Printers Limited and Printronix, Electronics for Imaging, Brother Industries, Oki Electric Industry, Toshiba, and Samsung Electronics. The major players have adopted strategies such as launching new products as well as strategies such as partnership and collaboration to increase their market share and increase their global penetration.