Westford, USA, Aug. 14, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Global Digital Printing Market will reach a value of USD 52.43 Billion by 2031, with a CAGR of 6.70% during the forecast period (2024-2031). The growing adoption of sustainable printing and rising improvements in textile and packaging industries and decrease in the cost of printing with efficient digital printers is considerably driving the digital printing market. With growing concern and government initiatives concerning the environment, businesses are committed to eco-friendly and green printing which is impacting digital printing demand.
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Browse in-depth TOC on the "Digital Printing Market"
Pages – 197
Tables – 65
Figures – 75
Digital Printing Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 31.2 Billion |
| Estimated Value by 2031 | USD 52.43 Billion |
| Growth Rate | Poised to grow at a CAGR of 6.70% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Inktype, Head Type, and Substrate Type |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Growing number of patent filings by major market players |
| Key Market Opportunities | Mounting Adoption of Digital Printing |
| Key Market Drivers | Growing Demand for Environment-Friendly and Sustainable Printing |
Inkjet Technology to Lead Owing to Greater Flexibility and Versatility
By technology, the inkjet segment led the digital printing market with maximum share and will continue dominance over the forecast period owing to higher flexibility and versatility of inkjet technology. These features allow inkjet technology to be used in larger applications like printing on paper, on packaging materials, and on textiles. The said technology is also prominent for quality results and comparatively low-price, making it best for SMEs. However, electrophotography is the fastest-growing segment observed in the digital printing market. The technology is highly suitable for speedy printing and persistent quality results including applications like publishing a book or for commercial printing. Hence, the segment growth is majorly attributed to the rising demand for on-demand printing that needs high print quality and speedy results.
Growth of E-Commerce and Online Shopping to Help Packaging Segment Flourish
By application, the packaging segment is projected to lead the market owing to rising trend of online shopping and growing number of e-commerce portals on the global scale. These domains need effective and efficient packaging, thereby fueling the segment growth. Rising demand for personalized packaging options, which are streamlined due to digital printing are boosting the segment growth. Nonetheless, the textile segment is observed to be the fastest-growing owing to the growing trend of personalization in home décor and fashion domains. The mounting demand for eco-friendly and sustainable printing solutions obtained from digital printing is impacting the demand for these solutions in the textile industry.
Increased Use of Digital Printing Services to Drive Market in North America
North America held a larger share of the market owing to the heavy use of digital printing in nearly every industry including manufacturing, automotive, technology, infrastructure, building, and more. Being the most developed region among others, North America is the fastest adopter of modernized digital solutions in almost all the domains, thus the progress of digital printing in the region. Asia-Pacific is the fastest-growing region and is projected to lead the market over the forecast period owing to growth of e-commerce, ever-increasing population, and development of packaging and textile industries. Among other nations, Japan and China are the leading nations, fueling the market growth in the Asia-Pacific.
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Digital Printing Market Insight
Drivers:
- Growing Demand for Personalized Printing
- Advancements in Printing for Better Print Quality
- Sustainability Concerns Leading to Increased Ecological Practices
Restraints:
- Significant Initial Costs
- Technical Intricacies
- Longer Return on Investment in Comparison with Other Techniques
Prominent Players in Digital Printing Market
The following are the Top Digital Printing Companies
- HP Inc.
- Canon Inc.
- Xerox Corporation
- Ricoh Company Ltd.
- Konica Minolta Inc.
- EFI Electronics for Imaging Inc.
- Agfa-Gevaert NV
- Durst Phototechnik AG
- Seiko Epson Corporation
- Kyocera Document Solutions Inc.
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Key Questions Answered in Global Digital Printing Market Report
- What is the growth rate and size of the Digital Printing Market, according to SkyQuest Technology?
- What are the main trends and advancements reshaping the Digital Printing Market?
- What are the key opportunities observed in the Digital Printing Market?
This report provides the following insights:
- Analysis of key drivers (growing environment concerns, technological improvements in digital solutions, rising demand for top-class graphics), restraints (limited range of printable fabrics, issues with durability, bulk printing does not offer scaled price decrease), opportunities (improved printing techniques, growth of textile industry, favorable government initiatives for sustainable printing), and challenges (increasing risk of cybersecurity, compatibility with unique fabrics, lack of automation) influencing the growth of digital printing market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the digital printing market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the digital printing market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
Related Reports:
Digital Textile Printing Market
3D Printing Medical Devices Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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