Digital Printing Market
Digital Printing Market to surpass USD 28.1 billion by 2031 from USD 19.7 billion in 2021 at a CAGR of 3.59% within the coming years, i.e., 2021-31.
Digital Printing is a modern mechanism of manufacture that enables for printing from electronic files. Digital printing can be well-defined as the method of printing digital-based images, which can be directly printed onto various media substrates (paper, photo paper, canvas, fabric, synthetics, cardstock, and other substrates). Digital printing does not involve a printing plate in contrast to the more traditional offset printing. Digital printing is an substitute to several other more conventional approaches such as lithography, flexography, gravure, letterpress, and others.
Digital Printing Market is predicted to project a notable CAGR of 3.59% in 2031
Digital printing is one of the wildest developing segments of the sign industry. Its growth can be seen in the incredible size of what can now be formed. Rising demand for sustainable printing and developments in packaging and textile industries are the key factors driving the growth of the digital printing market.
Digital Printing Market: Segments
UV-cured segment to grow with the highest CAGR during 2021-2031
Based on Ink Type, the market is segmented into Inkjet and Laser. The Inkjet printhead segment holds the highest market share of Digital Printing. Inkjet print heads can either be of continuous inkjet type or drop-on-demand inkjet printers. In the continuous inkjet printer, a continuous stream of ink is supplied to the print head with the help of a pump and a piezoelectric nozzle cycle. The continuous inkjet printer leads to higher consumption of ink than -on-demand inkjet printers.
Inkjet printhead Segment to grow with the highest CAGR during 2021-2031
Digital Printing Market by Application is segmented into Food Sorting, Consumer Engagement, and Quality Control. The market size of the Consumer Engagement segment is anticipated to grow at the highest CAGR during the forecast period. Increasing need to predict taste, preference, and mode of purchase of customer is deriving placement of AI solution in global F&B industry. F&B industries are growing utilizing artificial techniques to analyze the emotion of their customer in order to enhance product offerings.
Digital Printing Market: Market Dynamics
Developments in packaging industries
In marketing, the packing of a product gives data about the excellence and standard of a product. Thus, product manufacturers want the packaging of their products to be more attractive so that they can sell them quickly in the market. Packaging can be made beautiful by printing high-quality visuals on substrates such as plastic films, textiles, release liners, etc., which can be done by digital printers as they offer advantages such as UV-cured printing, along with far superior detail, clarity, and quality as related to their smaller counterparts. These printers also accommodate customers’ necessity for numerous languages, regional preferences, or targeted marketing by changing colors, text, and images. Digital printing is already well recognized in label production, and electrophotography and inkjet have a rising share of the market value.
Rising demand from in-plant market
An in-plant is an in-house document reproduction department that assists the needs of its parent industry, be it a corporation, organization, a government agency, school, university, or any other vertical. In-plant printing offers several varieties of printing and related services. While its prime function is to serve the parent organization, more than 50% of in-plants also insource print jobs from outside to fund equipment purchases.
High investment cost
The early investments in digital printers are quite high. Additionally, installation, connection, and maintenance also acquire higher costs. One of the main factors accountable for this high cost is the complication of design of digital printers. The condition of toner and inkjet varies according to applications. Furthermore, the cost of ink used in the inkjet technology is very high. Thus, all these factors lead to the increased overall cost of digital printers.
Impact of the COVID-19 on the Digital Printing Market
The outbreak of COVID-19 has brought effects on many features, like aircraft terminations; travel bans and quarantines; restaurants, cafes closed; all outdoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market instability; dropping business confidence, building panic among the population, and doubt about future. The COVID-19 pandemic has amplified the demand for flexible packaging, which is considered more hygienic due to limited handling. Another positive result has been the rise of F&B delivery services, which also enlarges the use of disposable packaging.
Digital Printing Market: Key Players
Konica Minolta (Japan)
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Hewlett-Packard Development Company
Canon, Inc. (Japan)
Ricoh Company, Ltd. (Japan)
Mimaki Engineering Co., Ltd. (Japan)
Roland DG Corporation (Japan)
Xerox Corporation (US)
Brother Industries, Ltd. (Japan)
Oki Electric Industry (Japan)
Kyocera Corporation (Japan)
Samsung Electronics (South Korea)
Other prominent players
Digital Printing Market: Regions
Digital Printing Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. North America is estimated to contribute the largest share of the Digital Printing Market during the forecast period owing to the overall preference and enthusiasm shown by the general population in the region towards adopting digital printing. Moreover, large number of players functioning in this region also influence to drive the growth of the market in North America. Asia Pacific also holds a major share of the global market. The market in the region is also projected to register the highest CAGR during the forecast period.
Digital Printing Market is further segmented by region into:
North America Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR-United States and Canada
Latin America Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR-Mexico, Argentina, Brazil and Rest of Latin America
Europe Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR- United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
Asia Pacific Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR-India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
Middle East and Africa Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Digital Printing Market report also contains analysis on:
Digital Printing Market Segments:
Plastic Films or Foils
Digital Printing Market Dynamics
Digital Printing Market Size
Supply & Demand
Competition & Companies Involved in the Market
Value chain of the Market
Market Drivers and Restraints
Digital Printing Market Report Scope and Segmentation
Report Attribute Details
Market size value in 2021 USD 19.7 billion
Revenue forecast in 2031 USD 28.1 billion
Growth Rate CAGR of 3.59% from 2021 to 2031
Base year for estimation 2021
Quantitative units Revenue in USD million and CAGR from 2021 to 2031
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Type, Ink Type, Application, and region
Region scope North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA)
Key companies profiled Canon, Inc. (Japan), Ricoh Company, Ltd. (Japan), Mimaki Engineering Co., Ltd. (Japan), Roland DG Corporation (Japan), Xerox Corporation (US), Printronix (US), Brother Industries, Ltd. (Japan), Oki Electric Industry (Japan), Kyocera Corporation (Japan), Toshiba (Japan), Samsung Electronics (South Korea), and Others