USD 24.30 billion
Digital Printing Market Size, Share, Growth Analysis, By Inktype(Aqueous Ink, Solvent Ink, UV-Cured Ink, Latex Ink), By Head Type(Inkjet, and Laser), By Substrate Type(Plastic Film & Foil, Release Liner, Glass, Textiles), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45J2203 |
Region:
Global |
Published Date: July, 2024
Pages:
197
|Tables:
65
|Figures:
75
Digital Printing Market Insights
Digital Printing Market size was valued at USD 20.25 Billion in 2022 and is poised to grow from USD 31.2 Billion in 2023 to USD 52.43 Billion by 2031, growing at a CAGR of 6.70 % in the forecast period (2024-2031).
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.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Inkjet
Fastest Growth
Inkjet
Growth Rate
6.8% CAGR
Global Digital Printing Market ($ Bn)
Country Share for North America Region (%)
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Digital Printing Market Segmental Analysis
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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Digital Printing Market Regional Insights
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.
Global Digital Printing Market By Geography
- Largest
- Fastest
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Digital Printing Market Dynamics
Digital Printing Market Drivers
High Technological Advancements
- Companies are using advanced technologies like IoT, artificial intelligence, data analytics, machine learning, and more. These innovative technological advancements have immensely impacted services. Moreover, large-volume printing orders are also profiting from print customization owing to changes in digital printing. This will further help in the growth of the global printing market.
Increasing Awareness and Environmental Sustainability
- Conventional printing increases chemical waste but digital printing is a more sustainable alternative. It produces minimal waste fulfilling the consumer and regulatory demand for eco-friendly practices. The decrease in waste and the utilization of eco-friendly inks contributes to a reduced environmental footprint. This transformation towards green production procedure is not only benefiting the environment but also improving the brand image of the companies.
Digital Printing Market Restraints
High Expense and System Errors to Restrict Market Growth
- Digital printing systems are at risk of mistakes along with the initial investment expense related to digital printing is substantially high in comparison to traditional printing. The cost consists of purchase price and installation expense, support and maintenance expense, and the cost of ink along with other consumables. Furthermore, installing and maintaining digital printers is of high cost. These factors are hindering the adoption of digital printing, which is reducing the growth of the market.
Strict Government Regulations and High Competition
- The increasing competition among market players and strict government rules related to environmental safety are hindering the growth of the digital printing market. Many times, e-waste and ink disposal create environmental problems. Furthermore, the absence of a proper standardization system along with unfavorable taxation policies are also functioning as constraints in the development of the market.
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Digital Printing Market Competitive Landscape
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
- Hewlett-Packard Development Company, l.P. (US)
- Canon, Inc. (Japan)
- Ricoh Company Ltd. (Japan)
- Mimaki Engineering Co., Ltd. (Japan)
- Roland DG Corporation (Japan)
- Xerox Corporation (US)
- Seiko Epson Corporation (Japan)
- Durst Phototechnik AG (Italy)
- Electronics for Imaging, Inc. (US)
- Inca Digital Printers Limited (UK)
- Printronix (US)
- Brother Industries, Ltd. (Japan)
- Oki Electric Industry (Japan)
- Kyocera Corporation (Japan)
Digital Printing Market Recent Developments
- In September 2023, ARC Document Solutions LLC collaborated with Canon Solutions America for purchasing Arizona printing systems. It will help them to expand and improve their digital color printing abilities.
- In July 2023, Epson Co. Ltd. and Australian Fashion Council went into a strategic partnership. The goal is to use digital printing and projection in the clothing and textile sector.
- In May 2022, Belgium-based Agfa-Gevaert Group acquired Inca Digital Printers. The objective is to improve and increase its business in the industrial printing sector.
Digital Printing Key Market Trends
Increasing Demand from Packaging Industry
- The packaging sector provides immense scope for applying digital printing. Different packaging technologies and processes are utilized for serving demands of several products for specific types of brands using various technologies for printing. Some of the packaging sectors include labels, cartons, rigid plastic packaging, metal packaging, flexible packaging, and corrugated packaging. The demand for digital printing is increasing in these sectors with the growing packaging sector.
Increasing Demand in E-Commerce and Packaging
- The growing popularity of e-commerce platforms among people is boosting the demand for efficient and adaptable packaging solutions. This is creating immense opportunities for the digital printing market. Moreover, the flexibility of digital printing to print on different substrates along with its potential to assist short print runs, fulfils the necessity of e-commerce sectors. This is increasing the demand for the digital printing market.
Digital Printing Market SkyQuest Analysis
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 2022 | USD 20.25 Billion |
| Market size value in 2031 | USD 52.43 Billion |
| Growth Rate | 6.70% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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 |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Digital Printing Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Digital Printing Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
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.
Analyst Support
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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