USD 24.30 billion
Report ID: SQMIG45J2099 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 65 | Figures: 75
Global Digital Printing Market size was valued at USD 24.30 billion in 2021 and is poised to grow from USD 25.95 billion in 2022 to USD 43.93 billion by 2030, at a CAGR of 6.8% during the forecast period (2023-2030).
The global digital printing market is a dynamic and rapidly evolving industry that has revolutionized the traditional printing landscape. It serves as a game-changer for businesses seeking efficient and versatile printing solutions. Driving the growth of the digital printing market are several key factors. First, the demand for on-demand printing and personalization options has surged, driven by changing consumer preferences and the need for targeted marketing campaigns. Digital printing fulfills these requirements by enabling customization and quick production of small batches without the need for expensive setups or plates. Additionally, the growing e-commerce industry has spurred the need for efficient packaging and labeling, further propelling the adoption of digital printing solutions. With the rise of online shopping, brands are seeking eye-catching packaging and labeling to differentiate their products, and digital printing offers cost-effective and vibrant printing options to meet these demands.
Factors such as the high initial setup cost of digital printing equipment and the ongoing maintenance expenses may pose challenges for small and medium-sized enterprises. Furthermore, the market is susceptible to fluctuations in raw material prices, which can impact the overall profitability of printing service providers. Key trends in the digital printing market include the integration of advanced technologies like artificial intelligence and machine learning, which enhance printing precision and efficiency. Moreover, sustainable printing practices have gained traction, with the industry focusing on eco-friendly inks, recyclable substrates, and energy-efficient printing processes. Amidst these trends and challenges, several opportunities exist within the digital printing market. The continuous innovation in printing technologies, such as UV-curable and latex inks, opens up new avenues for growth. Additionally, the increasing adoption of digital textile printing in the fashion and home decor industries presents a lucrative opportunity for digital printing providers to cater to this growing market segment.
Global Market Size
USD 24.30 billion
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Global Digital Printing Market is segmented on the basis of technology, application, and region. By technology, the market is segmented into inkjet, electrophotography, and others. By application, the market is segmented into textiles, ceramics, packaging, advertising and media, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Global Digital Printing Market Analysis by Technology
Inkjet printing is currently the largest segment of the digital printing market, accounting for approximately 55% of the total market share. This is due to the versatility and flexibility of inkjet technology, which can be used for a wide range of applications, from printing on paper to textiles and packaging materials. Inkjet technology is also popular for its high-quality output and relatively low cost, making it a popular choice for small and medium-sized businesses.
The fastest growing segment in the digital printing market is electrophotography. Electrophotography, also known as laser printing, is a digital printing technology that uses a laser to transfer toner onto paper. This technology is ideal for high-volume printing, such as in commercial printing or book publishing, as it offers high-speed printing and consistent quality output. The growth of electrophotography is largely driven by the increasing demand for on-demand printing, which requires faster turnaround times and higher print quality. The technology is also becoming more affordable, making it accessible to a wider range of businesses. In addition, the increasing adoption of digital printing in the packaging industry is expected to further drive demand for electrophotography, as it offers superior print quality on a variety of packaging materials.
Global Digital Printing Market Analysis by Application
The largest segment in the Global Digital Printing Market by application is packaging. The demand for digital printing in the packaging industry is driven by the growing trend of e-commerce and online shopping, which requires efficient and effective packaging solutions. This growth is attributed to the increasing demand for customized and personalized packaging solutions, which can be easily achieved through digital printing. Digital printing also offers advantages such as shorter lead times, lower costs, and reduced waste compared to traditional printing methods.
The fastest-growing segment in the Global Digital Printing Market by application is textiles. The demand for digital printing in the textile industry is driven by the growing trend of personalization and customization in fashion and home decor. This growth is attributed to the increasing demand for sustainable and eco-friendly printing solutions, which can be achieved through digital printing. Digital printing also offers advantages such as reduced water consumption, lower energy consumption, and reduced waste compared to traditional printing methods.
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North America dominated the Global Digital Printing Market. The United States is the largest market for digital printing in this region, with significant demand from several industries such as packaging, textiles, and commercial printing. The high adoption rate of advanced printing technologies, coupled with the presence of several key market players, is driving the growth of the digital printing market in North America.
Asia-Pacific is the fastest-growing region in the Global Digital Printing Market. The growth of the digital printing market in this region is fueled by factors such as the increasing population, the rise of e-commerce, and the expanding packaging and textile industries. China and Japan are the two major markets driving the growth of digital printing in the Asia-Pacific region.
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Global Digital Printing Market Drivers
Increasing demand for personalization and customization
Advancements in printing technology
Global Digital Printing Market Restraints
High initial investment costs
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The market is highly competitive and fragmented, with a large number of players operating in the industry. Some of the major market players are making significant investments in R&D to enhance their product offerings and stay one step ahead of the competition. Additionally, they are concentrating on strategic alliances and collaborations to broaden their customer base and market penetration. Along with these well-known players, a number of smaller businesses and startups are also breaking into the market with cutting-edge goods and services. These companies are often focused on niche markets or specific applications, such as textile printing or 3D printing.
Top Player’s Company Profiles in Global Digital Printing Market
Global Digital Printing Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Digital Printing Market analysis, the market is expected to continue to grow in the coming years due to the increasing demand for personalized and customized printing solutions across various industries such as packaging, textiles, and commercial printing. The rise in e-commerce and online shopping has also contributed to the growth of the digital printing market, as companies are looking for ways to improve their product packaging and branding. Additionally, advancements in technology such as 3D printing and the Internet of Things (IoT) are expected to further drive the growth of the digital printing market in the future. However, factors such as high initial investment costs and environmental concerns related to digital printing may hinder the growth of the market.
|Market size value in 2021
|USD 24.30 billion
|Market size value in 2030
|USD 25.95 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Digital Printing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Digital Printing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Digital Printing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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