With 7.5% CAGR, Digital printing Market Size, Share, Trends, Challenge And Opportunities 2023 To 2029

May 14, 2023

According to global Digital Printing Market is valued at approximately USD 30.9 billion. The market is expected to continue to grow at a strong rate in the coming years, with a projected CAGR of around 7.5% during the period from 2023 to 2029.

Luton, Bedfordshire, United Kingdom, Feb. 24, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Digital printing Market.

Digital printing Market Overview:

The Digital printing Market is a printing technology that uses digital files to directly print onto a variety of media. It offers several advantages over traditional printing methods, such as flexibility, faster turnaround times, lower costs for smaller print jobs, and the ability to customize prints. The global digital printing market has been growing rapidly in recent years, driven by the increasing demand for high-quality, cost-effective, and personalized printing solutions.

The digital printing market is segmented by printing technology, ink type, substrate type, application, and geography. Printing technologies used in digital printing include inkjet and electrophotography, while ink types include aqueous, solvent, UV-cured, and others. Substrate types include paper, textiles, ceramics, and others, while applications of digital printing include commercial printing, packaging, textiles, advertising and marketing, and others.

The market is driven by several factors, including the increasing demand for high-quality and personalized prints, the need for faster turnaround times, and the growing adoption of digital printing in various industries. Moreover, the emergence of advanced technologies such as 3D printing and hybrid printing is expected to further propel the growth of the digital printing market.

North America is the largest market for digital printing, followed by Europe and Asia-Pacific. The Asia-Pacific region is expected to experience the fastest growth during the forecast period, driven by the increasing adoption of digital printing in China and India.

Overall, the digital printing market is expected to experience strong growth in the coming years, driven by the increasing demand for high-quality and personalized printing solutions, the need for faster turnaround times, and the growing adoption of digital printing in various industries.

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Report Scope of the Digital Printing Market:

Report Coverage

Details

Market Size in 2022

USD 30.9 billion

Market Size in 2029

USD 48.2 billion

Growth Rate from 2023 to 2029

7.5%

Base Year

2022

Forecast Period

2023 To 2029

Market by Ink

UV-Cured

Aqueous

Solvent

Latex

Dye Sublimation

By Printheads

Inkjet

Laser

By Substrate

Plastic Film or Foil

Release Liner

Glass

Textile

Paper

Ceramic

Market Players

Hewlett-Packard Development Company, Canon, Ricoh Company, Mimaki Engineering Co., Ltd, Roland Dg Corporation, Xerox Corporation, Seiko Epson Corporation, Durst Phototechnik Ag, Electronics for Imaging, Inc and Inca Digital Printers Limited.

Digital Printing Market Dynamics:

Driver: Developments in packaging and textile industries

There are continuous developments in the textile industry. Earlier, companies used technologies for niche sections of the market. Nowadays, multinational brands incorporate new technologies for the overall market.

Manufacturers are producing dedicated textile-specific printing systems to cater to more orders. An increase in speed with new sustainable ink technologies is propelling digital printers toward the textile printing market.

The major demand is from the clothing market, which has two categories: fashion and sportswear. Digital printers are also used to print smaller designs on garments such as T-shirts, dresses, and promotional wear and print larger designs in textiles

Restraint: High initial investments

The initial investments and maintenance of digital printers incur higher costs. This is due to the complexity of the design of digital printers. Different applications require different toners and inkjets. Moreover, the cost of ink used in inkjet technology is very high.

Opportunity: Increasing demand from the in-plant market

Intense competition in the printing industry and increasing demand from parent organizations compel the in-plant printing department to expand its service offerings.

Currently, the in-plant printing market offers value-added services, ranging from scanning and archiving to garment printing and others. The large-format digital printer is widely accepted for these new services.

Challenge : Rising demand for digital advertisements and e-books

The growing popularity of the digital delivery of documents and data is expected to reduce the demand for printing certain products such as directories, financial documents, advertisements, and books. Some websites serve as online sources of public domain material, offering e-books, novels, and documents for educational and recreational purposes.

The growth in demand for e-books is a major challenge for printing businesses. Furthermore, self-publishing e-books affect traditional publishing businesses as writers can instantly publish their books and make them accessible to all. Thus, the exponential growth of e-books in recent years acts as a challenge for the digital printing market.

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Key Trends and opportunities for American Digital Printing in the Future

America's digital printing market is anticipated to expand as a result of rising consumer demand for customized goods, technological advancements, rising e-commerce adoption, and rising marketing and advertising expenditures. These elements will fuel the market's expansion for high-quality, reasonably priced digital printing services.

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