(MENAFN- America News Hour) The global UV LED printer market is segmented into end-users such as labeling and packaging, electronics, architectural and décor, advertising industry, textile, others. Among these segments, the labeling and packaging segment is expected to dominate the overall UV LED printer market and is anticipated to grow at a noteworthy CAGR of 9.1% by 2024. Moreover, the UV LED printer in the labeling and packaging segment is anticipated to achieve an absolute $ opportunity of USD 65.2 Million from 2016-2024.
Global UV LED printer market is anticipated to mask a notable CAGR of 9.2% during the forecast period i.e. 2017-2024. Moreover, the global UV LED printer market is projected to account for noteworthy revenue of USD 555.5 Million by the end of 2024. Additionally, continuous enhancements and research & development in UV LED printers are the major dynamic factor behind the expansion of UV LED Printer Market .
North America is slated to account for a market share of 24.7% in the terms of revenue by 2024 in the UV LED printer market. The growth in the region is anticipated to be fostered by the increasing fashion trends for printing accessories. Besides, positive GDP growth coupled with advancement in UV LED printer is also expected to impel the growth of UV LED printer market in the North America region. Likely, U.S. and Canada are the prominent market in the region. In Asia Pacific region, emerging economies such as China and India and positive GDP figures are believed to foster the growth of UV LED printer market.
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Technological Advancements in Printing Technologies
Printing industry has been witnessing continuous enhancements in printing technologies. UV LED printers are capable of printing near every material such as aluminium, plastic, glass and other materials. Moreover, UV LED printers are able to print 3D objects and various dissimilar objects such as end use and industrial products. Further, UV LED printers have wide range of applications including short term outdoor signage, wood prints, spot varnishing, interior decorations, furniture decorations, clear film window graphics and other industrial applications.
Increasing Demand for Efficient Printing Technology
UV LED printers are low energy consumption technology. UV LED printers are newest printing technologies and have some of the key advantages such as low electricity consumption and compact design. Moreover, adoption of UV LED printers is envisioned to increase in upcoming years due to factors such as higher productivity and higher life span of UV LED printers.
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In contrast, the extreme cost of UV LED printers as compared to other printers is a major challenge. High cost of UV LED printers such as wide format and textile printing solutions is a key factor which is obstructing the adoption of UV LED printers in small and medium sized industries.
The report titled“ UV LED Printer Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the global UV LED printer market in terms of market by end use, by ink system, by format, by type, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.
This report also provides the existing competitive scenario of some of the key players of the global UV LED printer market which includes company profiling of Roland DG Corporation, Electronics for Imaging, Inc., Shenzhen Yueda Printing Technology Co., Ltd., MeiTu Digital Indusrty Co., Ltd., Direct Color Systems, MIMAKI ENGINEERING CO., LTD., Gateway Technology Industry Co., Ltd., Monotech Systems Limited, InkTec Co.,Ltd. and Fujifilm Holdings Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global UV LED printer market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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