USD 24.30 billion
Report ID:
SQMIG45J2203 |
Region:
Global |
Published Date: July, 2024
Pages:
197
|Tables:
65
|Figures:
75
Digital Printing Market size was valued at USD 31.2 Billion in 2023 and is poised to grow from USD 33.29 Billion in 2024 to USD 55.94 Billion by 2032, growing at a CAGR of 6.70% during the forecast period (2025-2032).
Digital printing refers to the procedure of printing digital-based images directly into different media substrates like paper, photopaper, canvas, fabrics, cardstock, and more. Compared to conventional processes that need printing plates, digital printing mitigates this step. It enables for a more smooth and flexible process. This method is especially beneficial for tasks that need quick turnaround and high-quality results. Digital printing also consists of methods like inkjet and laser printing, which are extensively utilized for producing documents, marketing materials, and packaging with precision and clarity. The development of e-commerce has also immensely increased the demand for digital printing, especially in custom packaging and labeling. Online retailers are always trying to differentiate their products, so that they can offer something new to their customers, due to which the demand for custom packaging is increasing rapidly. Furthermore, businesses are trying to become more sustainable which is driving them to adopt digital printing, as it generates less waste and enables on-demand production. This minimizes overproduction and the requirement of unnecessary storage. The global market is moving towards personalized and eco-friendly solutions, progressing the expansion of digital printing services.
Global Market Size
USD 24.30 billion
Largest Segment
Inkjet
Fastest Growth
Inkjet
Growth Rate
6.8% CAGR
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Global Digital Printing Market is segmented on the basis of ink type, head type, substrate type, and region. Based on Ink Type, the market is segmented into Aqueous Ink, Solvent Ink, UV-Cured Ink, Latex Ink and Dye Sublimation Ink. Based on head type, the market is segmented into Inkjet and Laser. Based on Substrate Type, the market is segmented into Plastic Film & Foil, Release Liner, Glass, Textiles, Ceramics, Paper, and Others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Digital Printing Market Analysis by Head Type
Based on head type, the laser printing segment is witnessing massive growth in the digital printing market with the largest revenue. The laser printers are widely acknowledged for their cost-efficiency, especially in terms of low cost per page in comparison with alternative printing technologies like inkjet printers. This cost-effectiveness makes laser printing extremely appealing to businesses and people. This is mostly true for businesses or companies who have to cater and fulfill high-volume of order prints by utilizing digital technology. The capability to minimize operational costs while maintaining the quality has boosted the adoption of laser printing in various sectors.
Based on head type, inkjet printing is experiencing the fastest growth in the market. Inkjet printing is extremely versatile and flexible. It has the potential of printing on a vast range of substrates like paper, plastic, fabric, glass, and even metal. The adaptability nature of the inkjet printers makes it ideal for various applications across different sectors, such as packaging, advertising, and commercial printing. Furthermore, it has the potential to manage a variety of materials enabling businesses to meet different printing requirements in a single technology, boosting extensive adoption of the solution. These printers can also spray numerous microscopic ink droplets on paper for creating images. With such benefits, the demand for inkjets is increasing massively.
Digital Printing Market Analysis by Substrate Type
Based on substrate type, the plastic film or foil segment is dominating the market with the largest share. The demand for digital printing on printing film or foil is increasing mainly due to its capability to provide outstanding customization and cost-efficient short-run production in the packaging sector. Plastic film and foil are utilized in packaging for their versatility but using conventional printing on these items can involve high setup expenses and restricted design flexibility. However, digital printing has the potential to solve these challenges as it does not need printing plates and can create complex and varied designs, making it perfect for small manufacturing quantities. This also helps organizations to create attractive and unique packaging designs that appeal to users, especially useful for companies where packaging is vital marketing tools. Furthermore, digital printing on plastic film or foil is gaining popularity because of the increasing requirement for customized packaging and the requirement to be unique in this competitive market.
The textile printing segment is witnessing the fastest growth due to the technology’s potential to provide precise, high-quality prints with vibrant colors and complex designs. This technology offers services for various industries like fashion, home decor, advertising, and more. Compared to conventional printing procedures, digital textile printing enables better customization and flexibility, fulfilling the ever-evolving consumer demand for unique and customized products. This ability to customize minimizes waste by producing the accurate quantities necessary but also decreases turnaround time, which is vital in this fast-paced market. Furthermore, the growth of e-commerce platforms has further boosted the demand for digital printing as businesses are trying to provide more personalized and diverse product lines to cater to a global customer base.
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North America is leading the digital printing market with the highest market share. There are several leading digital printing companies and technology providers in the region. Organizations like HP Inc. and Xerox Corporation are playing a vital part in boosting the market. Their intensive research and development along with a strong distribution network have expanded the growth of the market. Furthermore, the region’s strong economic environment is also supporting the growth of the target market. Increasing high disposable incomes and favorable business settings are also encouraging investment in advanced digital printing technologies. Organizations are also willing to invest in innovative and unique equipment to improve their production abilities and meet market demands, further boosting market growth.
The region of Asia Pacific is experiencing the fastest growth in the digital printing market. The region is witnessing rapid technological development and increased adoption of digital printing technologies. Countries such as China, Japan, and India are leading in market. They are investing in innovative printing solutions for meeting the increasing demand for high-quality, efficient, and customizable printing services. Furthermore, governments in the region are investing in digital infrastructure and taking initiatives to adopt advanced manufacturing technologies. Initiatives for promoting digitalization and smart manufacturing are also positively influencing the growth of the digital printing market. Many countries in this region are also home to several printing equipment manufacturers, which allows easy access to new technologies and decreases production expenses. This manufacturing strength is enabling these countries to provide supply to both domestic and international markets efficiently.
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Digital Printing Market Drivers
High Technological Advancements
Increasing Awareness and Environmental Sustainability
Digital Printing Market Restraints
High Expense and System Errors to Restrict Market Growth
Strict Government Regulations and High Competition
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The key market players are entering into strategic partnerships with different companies in the textile, paper, publishing, and other sectors to drive the market. This is also improving the performance and quality of their printing procedures. These prominent players are providing unique solutions to offer high-quality digital color printing solutions. Furthermore, as the demand for green technologies is awareness related to pollution from industrial production is increasing, the market players are launching eco-friendly printing solutions. They are doing this with the help of digital technologies. To increase their market share, key companies are acquiring advanced technology providers to achieve knowledge and expertise.
Top Player’s Company Profiles in Digital Printing Market
Digital Printing Market Recent Developments
Increasing Demand from Packaging Industry
Increasing Demand in E-Commerce and Packaging
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global digital printing market is showing promising growth possibilities boosted by technological developments and rising demand for digital solutions. North America is leading the market share because of significant research funded by governments. Furthermore, the revenue of the market is also increasing by focusing on innovative products and customized services offered to customers. Strategic alliance and partnerships are also increasing the footprint of the major companies, fueling the growth of the market. As businesses are prioritizing digital transformation, digital printing will continue to grow exponentially.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 31.2 Billion |
Market size value in 2032 | USD 55.94 Billion |
Growth Rate | 6.70% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Digital Printing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Digital Printing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Digital Printing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Digital Printing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG45J2203
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