The growth of the large format printer market is fueled by rising demand for large format printing in the textile, advertising, and packaging industries, as well as the rising adoption of UV curable inks in outdoor advertising, CAD, and technical printing applications, according to a Research and Markets representative.
The large format printer market is estimated to increase at a CAGR of 4.00 per cent from USD 8.37 billion in 2017 to USD 10.59 billion by 2023. The large format printer market is being driven by the increased need for large format printing in the textile, advertising, and packaging industries.
High initial investments and running costs are major stumbling blocks to expanding the big format printer business.
“During the forecast period, the large format printer market for raster image processor (RIP) software is predicted to develop at the fastest rate.”
The fastest-growing segment is raster image processor (RIP) software for big format printers. It aids inefficient data processing, allowing big format printers to operate more quickly and consistently, critical for printing on various materials such as plastics, fabrics, and other materials. Print management jobs become much easier with a dedicated RIP tool capable of processing larger files; it allows individuals to multitask, enhancing process efficiency and Buy Wide Format Printers Online
“During the forecast period, the large format printer market for ink-based (inkjet) printer technology is predicted to develop at the fastest rate.”
Between 2017 and 2023, the ink-based (inkjet) printer technology market is predicted to develop at the fastest rate. The rising use of inkjet big format printers for technical and CAD printing is one of the primary factors for the market’s increased growth in Buying Large Format Printers Online. Because inkjet printers have lower operating costs for large scale printing, they have become increasingly popular in this business.
“The market for large format printers in APAC is predicted to develop at the fastest rate between 2017 and 2023,” according to the report.
Countries like Japan and South Korea have advanced economies, while China has been the world’s fastest-growing economy for the past two decades. Because of the strong growth in graphic printing, garment & textile printing, and CAD and technical printing in the region, large format printers are expected to be in high demand over the projection period. One of the potential markets for this technology is APAC.
APAC generates a significant amount of clothes and textiles, and this industry is likely to continue to expand in the coming years. Advertising and signage are expected to develop significantly in India, owing to the country’s booming economy.
Extensive primary interviews with relevant experts were undertaken as part of estimating and validating the market size for many categories and subsegments acquired through secondary research.
The following is a breakdown of the primary participants’ profiles:
Tier 1-45 per cent, Tier 2-35 per cent, and Tier 3-20 per cent by company type
By designation: 35 per cent for C-level executives, 25 per cent for directors, and 40 per cent for others
Geographically, the Americas account for 45 per cent, Europe for 20%, Asia for 30%, and the rest of the world for 5%.
Wide Format Printer Industry Report: People are often moving towards Screen Printer Quotes Melbourne these days during this pandemic. This report has segmented the large format printer market by offering printing techniques, print width, ink type, application, and geography. A thorough examination of the major industry participants was conducted to gain insight into their operations, products and services, and essential strategies such as product launches, mergers and acquisitions, partnerships, agreements, and collaborations in the large format printer market.