Product ID: SQMIG45O2031
Report ID:
SQMIG45O2031 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
66 |
Figures:
67
Asia-Pacific holds the highest share of revenue contribution and is projected to experience a Compound Annual Growth Rate (CAGR) of 2.30% during the forecast period. The region's significant revenue growth is driven by the increasing demand for commercial printing in emerging economies like India, Japan, China, Indonesia, Bangladesh, and Thailand. Various factors contribute to the expansion of the printing market in the Asia-Pacific region, such as the adoption of new technologies, evolving lifestyles, the growth of e-commerce, and rapid urbanization.With a substantial and rapidly growing population, along with a consistently expanding economy, China plays a pivotal role in the region's printing industry. The Chinese commercial printing sector, in particular, holds significant importance and has shown potential for adopting digital printing technology. This is mainly due to housing major manufacturers and attracting numerous Fortune 500 companies, further fueling the growth prospects of the Commercial Printing Market in the Asia-Pacific region.
North America secures the second-largest share in the Commercial Printing Market, contributing to more than 33.15% of the global revenue. This growth in the region can be attributed to the significant demand for commercial printing services, particularly for marketing, packaging, labeling, and advertising needs. Additionally, the presence of major industry players like Quad/Graphics Inc., Acme Printing, Cenevo, and RR Donnelley in the region is expected to further drive the industry's expansion.
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Product ID: SQMIG45O2031