An industry that is quickly expanding is the global digital printing market, which uses digital technology to produce printed goods. In comparison to conventional printing techniques, digital printing has a number of benefits, such as quicker printing times, reduced prices, and the capacity to print in smaller quantities.
Many factors, including as the rising need for personalized and customized printing, the expanding use of digital printing across numerous industries, and improvements in digital printing technology, are propelling the market. Digital printing options on the market include inkjet printing, electrophotography, and thermal transfer printing. Numerous well-established businesses are vying for market share in this fiercely competitive sector. Yet, due to the low entry barriers and great demand for digital printing, there are continuously new competitors entering the industry.
Several important geographic areas, including North America, Europe, Asia Pacific, and Latin America, can be divided into market segments. The growing use of digital printing across a variety of industries, including the packaging, textile, and advertising sectors, has made North America an important market for the technology. Due to the presence of multiple major competitors in the region and the rising need for individualized and customized printing solutions, Europe is another sizable market for digital printing. The increasing adoption of digital printing by numerous industries and the rising need for high-quality printing solutions are likely to propel the Asia Pacific region's growth in the upcoming years.
The COVID-19 pandemic has caused a conflicting effect on the world market for digital printing. On the one hand, the epidemic has caused the economy to slow down, which has decreased demand for printed goods in a variety of industries. The market has suffered as a result. The epidemic, on the other hand, has also raised demand for printed documents pertaining to healthcare and other services. This has caused demand to shift from some market categories to others. Also, as more companies adopt remote work and e-commerce strategies, the epidemic has sped up the use of digital printing technologies. This has opened up prospects for the sector, especially in fields like e-commerce packaging and labelling. However, despite the pandemic's negative effects on some industry categories, it has also expedited the adoption of digital printing technology and produced new growth opportunities.
Overall, the market is expected to continue its growth trajectory in the coming years, driven by advancements in digital printing technology and the increasing adoption of digital printing solutions by various industries.
Digital Printing Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Hawlett- Packyard Development Company, Canon, Inc., Ricoh Company Ltd., Mimaki Engineering Co. Ltd., Roland DG Corporation, Xerox Corporation, Seiko Epson Corporation, Toshiba, Panasonic, Durst Phototechnik AG, Inca Digital Printers Limited, Printronix, Oki Electric Industry, Kyocera Corporation, Neuralabel Printing Solution
Global Digital Printing Market Segmentation:
By Print Head: Based on the Print head, Global Digital Printing Market is segmented as; Inkjet (Electrostatic Inkjet, Micro- Electro Mechanical System Inkjet, Piezo Inkjet, Thermal Inkjet), Laser
By Ink: Based on the Ink, Global Digital Printing Market is segmented as; Aqueous, Dye Sublimation, Latex, Solvent, UV Cured, Others
By Substrate: Based on the Substrate, Global Digital Printing Market is segmented as; Glass, Plastic Films/Foils, Paper and Paper Board, Textile, Others
By Application: Based on the Application, Global Digital Printing Market is segmented as; Books, Commercial Printing, Packaging, Texting, Others
By Region: The Global Digital Printing Market report covers Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom, and the United States. Asia-Pacific is the fastest-growing region in the global digital printing market, with major market players such as Canon Inc., Epson Inc., and HP Inc. The increasing demand for digital printing solutions in the packaging, textiles, and advertising industries is driving the market growth in this region. Additionally, the growing adoption of digital printing in the publishing industry and the increasing government initiatives to promote digital printing solutions are further contributing to the growth of the market.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.