Print Equipment Market Size, Share, Growth Analysis, By Type(Offset, Digital, Flexo, Others), By End-Use(Packaging, Publication, Commercial & Others), By Region - Industry Forecast 2024-2031

Print Equipment Market Driver

• Technological Advancements in Printing Technology

The primary force behind the growth of the print equipment market is the quick development of technology. Apart from this, instant and on-the-go printing is gaining all the popularity around the globe. By using the appropriate smartphone app, wireless connectivity in portable printers enables hassle-free printing for consumers. In addition to inspiring the future generation of young users to be more imaginative and acclimated to using printers with this technology, the futuristic technology will also.

• Higher Demand for Advertisement through print media

As per World Press Trends by the World Association of Publishers, advertising was cited as the single most important source of income (27%) despite the declines in print advertising and ongoing difficulties with digital advertising, as well as the fact that audience revenue has consistently surpassed ad revenue in the reports for the past five years. Subscriptions (21%) and single copy sales (10%) were next, followed by a collection of various revenue streams.

Print Equipment Market Restraint

• Growing Digitization

Despite the widespread usage of various reading materials, the print equipment market is anticipated to be impacted by the growing digitization. As per WAN-IFRA report by the World Association of Publishers, consumers strive for excellent journalism in a tumultuous "environment," filled with disinformation and mistrust, digital reader revenue and digital readership continued to rise dramatically last year, up roughly 27 percent and 36 percent, respectively. Additionally, publishers are relying on audiences-first approaches and digital subscriptions as the cornerstones of a sustainable future. This makes publishing challenges more difficult. The print equipment market expansion is projected to be hampered by the growing use of digital data and reading materials, such as e-books and online news subscriptions. While digital advertising remains a challenge on a number of fronts, revenues increased 8.8% last year.