USD 8.8 billion
Report ID:
SQMIG20D2086 |
Region:
Global |
Published Date: February, 2024
Pages:
256
|Tables:
150
|Figures:
78
Large Format Printers Market size was valued at USD 8.8 billion in 2019 and is poised to grow from USD 9.28 billion in 2023 to USD 14.13 billion by 2031, growing at a CAGR of 5.4% in the forecast period (2024-2031).
A large format printer is a computer-controlled printing machine that can print rollers with widths between 18" and 100". Instead of printing on separate pieces of paper, this printer prints on a sizable single sheet. These are used for projects like banners, posters, car wraps, architectural drawings, trade fair graphics, and murals that necessitate printing at a wider width. Due to the big format display's popularity as a display choice for conferences, trade fairs, public events, and art exhibitions, these are widely used in companies as a powerful communication and marketing tool.
The availability of mobile advertising and printing facilities that offer customers the ability to print documents directly using their mobile phone or any other wireless device, as well as the rising demand for large format printing across a variety of industries like textile, packaging, and advertising, are the main factors propelling the market. The growing popularity of these printers due to features like a large color touchscreen that facilitates the configuration of connectivity options in printers, as well as the increasing acceptance of UV curable ink for large format printers in order to print robust images that could be used in a variety of substrates including foam board, glass, wood, and cardboard, are driving the growth of the market. The market is affected by the usage of these printers, particularly in workplaces with employees who have poor vision or lack knowledge of printing technology. These printers are simple to use and understand, and they have the performance capacity to print in the required quantity and withstand harsh environmental conditions without fading. The market is further benefited by the growing significance of digital document production in commercial printing applications, a range of pricing options, and a higher incidence of CAD and technical printing applications.
US Large Format Printers Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 8.8 billion
Largest Segment
Signage
Fastest Growth
Signage
Growth Rate
5.4% CAGR
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Global Large Format Printers Market is segmented on the basis of Offerings, Technology, Ink Type, Print Width, Application, and region. By Offerings, the market is segmented into Printers, RIP Software, and After-sales services. By Technology, the market is segmented into Ink-Based (Inkjet) Printers, and Toner-Based (Laser) Printers. By Ink Type, the market is segmented into Aqueous ink, Solvent ink, UV-cured ink, Latex ink, and Dye sublimation ink. By Print Width, the market is segmented into Up to 24”, 24-36”, 36-44”, 44-60”, 60-72”, 72” and above. By Application, the market is segmented into Apparel & Textile, Advertising, Cad & Technical Printing, Signage, Décor. The market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America as according region.
Large Format Printers Market Analysis by Print Width
According to the use in CAD applications, signage, as well as other areas, large format printer with width ranging from 24" to 36" are projected to have the biggest share in 2021, with a value of 32.2%. With a variety of features like high-speed printing, wireless printing from anywhere, created ram, compatibility with mobile devices, and efficient ink cartridges, printers with a 24"–36" size are technologically up to date. The 24" sure Color SC-P7530 and 44" sure Color SC-P9530, two new Sure Color P-Series printers with amazing color accuracy and brilliance, are announced to launch in EPSON India in October 2020. For applications in photographs, fine arts, graphic design, and proofing, it is ideal.
Large Format Printers Market Analysis by Application
Due to its increased use in advertising and marketing, the signage segment is expected to experience rapid expansion during the forecast period, growing at a rate of 28.2% in 2021. The need for large format printers is growing as more indoor and outdoor signage boards are needed to print advertisements, warning signs for highways, and other signage. By attracting clients' attention, signage can increase sales of products and services. Due to the lightweight, washable, and long-lasting fabrics in use in soft signage, demand for it is currently relatively high. As a response, manufacturers are focusing on expanding their brand portfolio.
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Due to the growth of the advertising and signage markets and the substantial investment made in indoor and outdoor signs by businesses in the region, North America currently controls the majority of the global market. The presence of well-known companies in the region, like Videojet Technologies, Inc., Xerox Corporation, Inkjet Inc., and KEYENCE CORPORATION, is also a significant growth driver. Due to an increase in drug stores, the United States currently dominates the region of North America.
During the forecast period, the APAC market is expected to grow. The presence of major laser printer manufacturers in the region is one of the main causes of APAC's dominance. Major different locations including China, India, and Japan are very well known by these vendors. The fierce competition in the market has forced the ASP of laser printers in APAC to fall, which is positively driving the market growth. The market in APAC is expected to grow as a consequence of the growth prospects of the textile industry as well as the increased adoption rates of direct-to-fabric printers. Many vendors decided to increase their presence in APAC as a result of the region's increasing demands for printers. As an instance, FUJIFILM India announced the launch of the Acuity Ultra, a new super wide format system, in 2021. It is a chemical-free, UV-curable roll-to-roll printer that uses Uvijet GS ink. From the quick setup of the material to the intelligent vacuum management and operation through newly designed output software, the printer's distinguishing features make it extremely efficient.
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Large Format Printers Market Drivers
Increasing customers use UV-curable inkjet printers
Growing use of large size printers for vehicle graphics and home furnishings
Large Format Printers Market Restraints
High operating and investment costs
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Market players are using both organic and inorganic growth strategies to compete in the fragmented large format printers market. Among the top market players are Agfa-Gevaert NV, Canon Inc., FUJIFILM Holdings Corp., HP Inc., Kyocera Corp., Ricoh Co. Ltd., Roland DGA Corp., Seiko Epson Corp., Sony Corp., and Xerox Corp.
Large Format Printers Market Top Player’s Company Profiles
Large Format Printers 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 the robust Secondary Desk research.
According to global large format printers market analysis, the market is further benefited from the growing significance of digital document production in commercial printing applications, a range of pricing options, and a higher incidence of CAD and technical printing applications. Due to the growth of the advertising and signage markets and the substantial investment made in indoor and outdoor signs by businesses in the region, North America currently controls the majority of the global market.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 8.8 billion |
Market size value in 2031 | USD 14.13 billion |
Growth Rate | 5.4% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
Regions covered | 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) |
Companies covered |
|
Customization scope | Free report customization with purchase. Customization includes:-
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Historical Year | 2019 |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Large Format Printers 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 Large Format Printers 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.
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With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Large Format Printers Market:
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Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
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REQUEST FREE CUSTOMIZATIONLarge Format Printers Market size was valued at USD 8.8 billion in 2019 and is poised to grow from USD 9.28 billion in 2023 to USD 14.13 billion by 2031, growing at a CAGR of 5.4% in the forecast period (2024-2031).
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Report ID: SQMIG20D2086