by The global Digital Printing Market is estimated to be valued at US$ 32.27 Bn or billion in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Digital printing offers several advantages over conventional printing such as variable printing, affordable short-run printing, on-demand printing and instant file-to-print capabilities. It allows creating customized and personalized materials with minimal set-up cost. The market comprises various technologies such as inkjet, electrophotography and dye sublimation that are used in various end-use industries including publishing, packaging & labeling, textiles, advertising and industrial. Digital printing technologies are increasingly being adopted by signage industry, textile industry, packaging industry and publishing industry.
Market key trends:
Digital printing market is driven by growing demand for digital signage in public and commercial spaces such as airports, railway stations, shopping malls and corporate offices. The digital signage market is growing rapidly owing to benefits such as easy content management, dynamic content display and cost-effectiveness compared to traditional signage. Inkjet technology is gaining higher adoption in digital textile printing due to advantages such as high image quality, multicolor printing capabilities and smooth output on various materials. Packaging industry is increasingly adopting digital printing to produce customized labels and packaging for enhancing brand appeal and customer experience. Advanced printing technologies are enabling production of short-run prints and on-demand books, expanding application in publishing and printing industry.
Porter’s Analysis
Threat of new entrants: The digital printing market requires high initial capital investment for setting up production facilities and R&D which acts as a barrier for new players.
Bargaining power of buyers: The digital printing market has large number of players providing similar products, giving buyers high bargaining power to negotiate on prices.
Bargaining power of suppliers: Few manufacturers control the supply of critical raw materials for digital printing like inkjet cartridges giving them strong bargaining power over buyers.
Threat of new substitutes: Threat is moderate as digital printing has some unique advantages over traditional printing methods.
Competitive rivalry: The digital printing market has high competition due to presence of large number of players offering similar products and services.
Key Takeaways
The Global Digital Printing Market Size is expected to witness high growth, exhibiting a CAGR of 18% over the forecast period, due to increasing demand for short-run and variable prints from sectors like packaging and publishing.
Regional analysis: Asia Pacific is expected to dominate the global digital printing market over the forecast period. Growing economies like China and India provide huge opportunities owing to rising manufacturing activities in the region. North America is another major market for digital printing supported by strong demand from sectors like textiles and signage.
Key players: Key players operating in the digital printing market are Canon, Brother Industries, Hewlett-Packard Development, Printronix, Ricoh Digital Painting Company, Inca Digital Printers Limited, Mimaki Engineering, Electronics For Imaging, Roland Dg Corporation, Durst Phototechnik AG, Xerox Corporation, and Seiko Epson Corporation.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
