The Digital Printing Market was valued at USD 22.739 billion in 2019 and is expected to reach USD 31.712 billion by 2025, at a CAGR of 5.7% over the forecast period 2020 - 2025. Digital printing is one of the fastest developing segments of the sign industry. Its growth can be seen in the incredible size of what can now be produced. Whatever the message or product, size has become a significant trend in advertising. Today, one sees immense digital prints wrapped on the glass fronts of office buildings, and huge digitally printed banners displayed down the sides of buildings. The automotive industry has also become a major part of the digital advertising world, with cars, buses, vans, and trailers fully wrapped with digital prints. The growth of online media has provided tough competition to operators in printing-related industries. As commercial printers have experienced diminishing demand, they have frequently adopted digital printing techniques over more conventional printing press operations, since these services lower overhead expenses and allow operators to allow customers greater flexibility, as a result, digital printing industry participation and income have grown.
- The ever-decreasing cost and ever-increasing power of computer chips, coupled with the ever-rising network speed and bandwidth have expedited the number of internet users. The print is now part of the wider communications industry and printing businesses are frequently IT-led and centered on the internet for marketing and communications. Furthermore, fast digital communication, interactivity, coupled with an ‘always on’ communications lifestyle have also fueled the growth of the market.
- With e-commerce being so essential to market, printers are getting more creative means of selling and exploiting W2P. The increase in volumes of short-run digital production primarily for marketing collaterals like catalogs helps to encourage online sales, so print is a worthy ally for e-commerce when it becomes part of a combined multi-channel process.
- Digital communications now serve more than 70% of daily media time, printers with digital communications there is a burgeoning opportunity for customer segmentation i.e. collecting data and insights to more closely define the audience, thereby boosting the significance of the messaging and the possibility of a positive response.
- With a quickly changing market, the textile industry is anticipating a great variety of patterns and colors. However traditional printing methods can not fulfill the new demands, and printers are forced to search for new methods to satisfy the customer's demands without raising cost and waste. Originally designed for printing on papers, inkjet printing technology is now used in the fabric printing market more and more, as it fits the demand of the textile market, thus fueling the growth of the market.
- However, the high-priced cost of investment in digital printing acts as a restraint for the growth of the overall digital printing market. These costs comprised the purchase price and installations fees (if applicable), maintenance and support costs as well as the price for ink and other consumables.
Scope of the Report
Digital Printing is a modern technique of production that enables printing from electronic files. Digital printing can be described as the means of printing digital-based images, which can be directly printed onto multiple media substrates (photo paper, paper, canvas, synthetics, fabric, cardstock, and other substrates). Digital printing does not need a printing plate in contrast to the more conventional offset printing.
Key Market Trends
Laser Print Heads to Drive the Digital Printing Market
- Significant factor driving the growth of the laser printers is the growing demand for advanced printing technologies in order to enhance productivity and efficiency or the entire workflow. Laser printers have the advantage when it comes to clean, crisp black text and color graphics. The principal factor driving the growth of the Laser Printers is the growing demand for advanced printing technologies in order to enhance productivity and efficiency or the complete workflow. Laser printers are competent in generating a very high-quality print and with an infinite set of fonts, are non-impact printers and are simplex in nature.
- Laser printers are cost-effective as well as have high output speeds in contrast to the inkjet printers. Lasers can handle huge monthly workloads, with monthly duty cycles of anywhere between 2,000 and 20,000 pages, requiring a printer capable of serving larger teams or applications where there’s hope to be a higher workload, then a laser printer is still the best method to go. Lasers are getting more affordable and the standard or super-sized cartridges have extraordinary lifespans, delivering outstanding results even on plain paper, and have been the backbone of workgroup printing.
- MFPs will give high print volume and multiple functionalities including fax. scan, copy, and print. The increasing popularity of MFPs is triggering the huge growth of the laser printers' market globally. Moreover, enterprise-grade laser printers grant more management tools plus support for added high-end technologies such as IPSec and Gigabit Ethernet, update and upgrade choices like expandable memory or a secure, plug-in hard disk.
APAC Holds the Tag of the Fastest Growing Market
- The market in APAC is anticipated to grow at the highest rate during the forecast period. APAC has witnessed accelerated growth in industrialization over the past decade, which has generated a lot of opportunities for MPS. APAC is the market leader concerning the overall textile printing industry. China and India are the largest suppliers of textiles and include the highest number of textile printing partners and marketers. They also hold the most extensive base of textile manufacturers. These factors are majorly adding to the growth of the market in APAC during the forecast period.
- APAC is one of the principal adopters of Digital Printing and is considered to be one of the largest markets. The demand in APAC is largely driven by a higher focus on innovations through R&D and enhanced testing in several industries. The region has been known to be a pathfinder in innovation, due to which the demand for prototyping is high. The investment in R&D, in the region, in new and emerging technology is relatively high for it to help the region sustain its dominance in the market. Furthermore, the region has a solid foothold amongst the vendors in the market.
Digital Printing Market is moderately competitive and consists of several major players. In terms of market share, some of the major players currently dominate the market. The companies operating in the market are leveraging on strategic collaborative initiatives, to offer specialized products, increase their market share and increase their profitability. The companies operating in the market are also into mergers and acquisitions of start-ups that help in improving the served market portfolio on Digital Printing Devices to strengthen their product capabilities.
- August 2019 - DIC Corporation, has entered into an agreement to acquire BASF’s global pigments business, known as BASF Colors & Effects (BCE). The acquisition will broaden DIC’s portfolio as a global manufacturer of pigments, including those for electronic displays, cosmetics, coatings, plastics, inks, and specialty applications, by creating a world-class pigments supplier that offers customers an even wider range of versatile solutions.
- May 2019 - Canon Inc. decided to acquire its own shares with the aim of improving capital efficiency and ensuring a flexible capital strategy that provides for such future transactions as share exchanges.
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