|Status : Published||Published On : Jan, 2022||Report Code : VRSME9095||Industry : Semiconductor & Electronics||Available Format :||Page : 250|
The large format printer market is anticipated to grow from USD 8.56 billion in 2021 and is anticipated to reach USD 11.7 billion by 2027, registering a CAGR of 5.5% during the forecast period 2021-2027. A large format printer is a computer-controlled printing press that can print on rolls with a width of 18 "to 100". Instead of individual papers, this printer prints on a large single sheet of paper.
Banners, posters, vehicle image wraps, architectural drawings, trade show graphics, and murals are examples of applications that demand longer-width printing. Large-format displays are widely adopted in businesses as they operate as a powerful communication and marketing tool and are a popular display option for conferences, trade exhibits, public events, and art exhibitions. The growing demand for large format printing in the advertising, packaging, and textile industries will accelerate the demand for the large format printer market. Thus, the increased prominence of digital documentation for business transactions along with increased adoption of UV curable inks in the field of outdoor advertising is the key factors bolstering the development in the large format printer market.
The COVID-19 outbreak has led to an economic slowdown owing to lockdown restrictions, stringent social distancing norms, travel restrictions, and limited entry to public places like malls, restaurants, cinemas, etc. Also, industry verticals have noticed a disruption in supply chain and logistics-related services. These all factors have impacted the growth of the large format printer market.
Insight by Offering
The global large format printer market is divided into three categories based on offerings: printers, RIP software, and after-sales service. RIP Software is anticipated to have significant growth owing to the rising need for automation and integration in RIP Software among the industry players so as to help print service providers optimize their workflow.
Insight by Material
Based on material, the global format printer market is bifurcated into porous materials and non-porous materials. Porous materials are widely adopted in technologies that require a large surface area with a limited material volume. Porosity in 3D printed objects is intriguing, and it permits additive manufacturing advantages to be applied to the manufacture of porous materials.
Insight by Print Width
Based on print width, the global large format printer market is divided into 11" to 24", 24 to 36”, 34" to 44", 44" to 60", 60" to 72", and above 72". The 24” to 36” contributes to the highest share in the large format printer market owing to technological up-gradation and advanced features like high-speed printing, wireless printing from anywhere, inbuilt RAM, compatibility with mobile devices, and effective ink cartridges.
Insight by Ink Type
On the basis of ink type, the market is segregated into aqueous, solvent, UV-curable, dye sublimation, latex, and others. The UV-curable ink holds the largest share in the market as it offers benefits like dries almost instantly, UV-resistant, requires less energy, and environmentally friendly solution. It can also be used on a variety of uncoated and rigid surfaces. Despite its high cost, UV cured ink is progressively replacing solvent ink due to the advantages listed above.
Insight by Printing Technology
The global large format printer market is categorized on the basis of printing technology into inkjet printing, and toner-based printing (Laser Systems). Inkjet printing is further divided into thermal inkjet technology, electrostatic inkjet technology, crystal-based technology, and others. Inkjet printing is anticipated to grow at the highest rate owing to its increased adoption for technical and CAD printing applications. Moreover, manufacturers are providing robust inkjet printers for extensive layout printing having low cost and low maintenance, resulting in
Insight by Application
Based on application, the global large format printer market is categorized into apparel and textile, signage, advertising, décor, CAD and technical printing, construction, and others. The signage segment is anticipated to grow at a faster pace during the forecast period owing to the surge in adoption of large format printers in advertising and marketing. The large format printers can be used in indoor and outdoor signage boards to show advertisements, warning symbols on highways, etc.
The increasing trend to enhance brand awareness and improve the visibility of a product or service in an industry can be done by large format printers via advertising pennants, posters, signage boards, billboards, and hoardings that depict a detailed and clear image of the product or service.
The increased significance of digital document production in commercial printing applications, increased adoption in textile and advertising industries, various pricing options, increased utilization of CAD and technical printing application will propel the demand for the large format printer market. The large format printing is expected to have significant growth owing to the increased adoption by textile and advertising industries, increased usage of UV-curable inkjet printers will drive the growth of the market. Large format printers are also used by the packaging sector to print high-quality packages and labels. Large format printers have a number of advantages, including quick turnaround times, inexpensive printing costs, and the ability to print on a variety of media. The rising prominence of dye-sublimation printing in event photography and photo booths will further propel the growth of the market.
The massive initial investment, increased operating cost and the rising prominence of digital advertising media will hamper the growth of the market. Furthermore, the rigidity and specific applications of these printers could pose a challenge to the large format printer market during the forecast period 2021-2027.
The increased adoption in home furnishing and décor, vehicle wrap applications, and mounting product innovations to offer a wide variety of printers will create opportunities for industry players in the large format printer market.
North America dominates the large format printer market owing to massive investment by companies and a surge in demand for large-scale format printers for large-scale prints. Furthermore, the technological innovations enhanced advertising and décor demand, and the presence of well-established players like Hewlett-Packard, Electronics for Imaging, Xerox Corporation, Lexmark will propel the growth of the large format printer market in the region. However, the COVID-19 pandemic will affect the large format printer market but a sturdy recovery is anticipated by 2022.
APAC is anticipated to be the fastest-growing region in the large format printer market owing to massive growth in graphics, apparel and textiles, CAD, and technical printing. As the region manufactures a huge amount of apparel and textiles, the large format market is expected to grow in the region. Moreover, significant growth in advertising and signage applications in India as it is a prosperous economy and an increasing number of décor applications and fast-growing retail advertisement and graphic printing in developing economies will also lead to the growth of the market.
The industry players operating in the global large format printer market are entering into collaborations with industry verticals to sustain the supply and demand flow. The strategies adopted by industry players include partnership, acquisitions, collaboration, technology launches, and R&D activities to have a competitive edge in the market.
Ricoh is a major provider of digital services and information management, as well as print and image solutions that help businesses transform to a digital platform and enhance business performance. Their wide format document centres and large format printers are environmentally sustainable, and dynamic, and they provide excellent printing solutions for a variety of applications. Pro L4130/Pro L4160, MP CW2201SP, Pro T7210 UV, and others are the featured products
Epson manufactures a comprehensive range of multifunction printers, data and home theatre projectors, point-of-sale printers, and large-format printing solutions. Epson's next-generation digital textile printers bring together Epson's technological know-how and printing technology to deliver high-performance industrial-level production yields and high-quality output. Due to their rapid performance, high reliability, durability, and bright colour prints, Epson signs printers produce outstanding results for a wide range of corporate applications in the shortest period of time.
Epson announced a new T-series printhead that leverages PrecisionCore thin film piezo technology and can be used in the wide-format sign market in August 2021. UV printers are the target market; hence they contain a built-in heater that enables them to function with viscous fluids.
Canon has introduced a new product in the large format printing industry in September 2021. PROGRAF GP Series Aqueous Pigment Fluorescent Pink Ink is the world's first Aqueous Pigment Fluorescent Pink Ink designed for high-value-added output and graphics applications.
Some of the players in the large format printer industry include Seiko Epson Corporation, HP Development Company, L.P., Canon Inc., Ricoh USA, Inc., Konica Minolta, Inc., Agfa-Gevaert Group, Xerox Corporation, FUJIFILM Holdings Corporation, MIMAKI ENGINEERING CO., LTD., Oki Electric Industry Co., Ltd.
Source: VynZ Research