The state-of-the-art printing method is referred to as "digital printing systems" and makes use of electronic that were designed using printing software. Images are printed on media surfaces including paper, cloth, and ceramic utilising digital formats like PDF and JIP. Thanks to digital printing, the end-use manufacturer may be able to produce graphics more quickly. Thermal bubble production technique is used in inkjet-based printing to precisely discharge the ink onto the surface in a predetermined manner. Inkjet printing also makes it possible to produce useful materials in three dimensions.
According to SPER market research, ‘Digital Printing Market Size- By Print Head, By Ink, By Substrate, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2032’ state that the Global Digital Printing Market is predicted to reach USD 51.93 billion by 2032 with a CAGR of 6.95%.
The digital printing market is expected to grow throughout the projection period as a result of laser and inkjet printing solutions' swift acceptance in the paper and packaging industries due to their adaptive and affordable features. The market for digital printing is expected to be stimulated by the widespread usage of IoT and AI-based technologies. Additionally, it is predicted that greater digital printing usage by consumer devices would drive demand for smart thermostats. These factors suggest that the global market for digital printing will grow quickly during the coming years.
However, the entire market expansion of the digital printing industry is hampered by high investment costs. The cost of digital printing equipment is considerably higher than the cost of conventional printing equipment because the total cost of ownership, which includes labour costs, maintenance costs, ink, water, and energy costs, is higher for conventional printing than for digital printing. A square metre of cloth printed digitally costs around 1.5 times as much as one printed traditionally. Also required to operate digital printing equipment are qualified professionals. Thus, these are the primary market restraints that will reduce the industry's rate of growth.
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Moreover, COVID-19 has had an impact on the global digital printing market as a whole, and as its impact grows, so has the growth rate for 2019–2020. Due to COVID-19's arrival, the market's growth rate decreased in 2020, and it is anticipated that growth will continue to be somewhat modest until the end of 2021. A number of market issues were brought on by the COVID-19 pandemic in the construction sector, including issues with food accessibility, health and safety laws, deliverables, contractual requirements, and project delays or cancellations. As a result, there was a decline in demand for the global digital printing market.
Geographically, North America held the largest market share and is predicted to grow during the forecast period. North America is the most developed region in the world in almost every sector, including manufacturing, construction, infrastructure, automobile, and building. The wealthy state of this region is a result of its tightly knit markets. Revenue-wise, the market is growing rapidly. Due to their extremely broad industrial markets, countries like the United States and Canada dominate the North American region economically. The industries in this region are more adaptable to expansion and innovation than those in other regions.
Additionally, some of the market key players are Canon, Inc., Panasonic, Inca Digital Printers Limited, Printronix, Oki Electric Industry, Kyocera Corporation, Others.
Digital Printing Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2032. This report contains statistics on product type segment growth estimates and forecasts.
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,
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Digital Printing Market Outlook
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