Inkjet Printing Market Size Predicted To Increase At A Posit...| MENAFN.COM

Friday, 02 December 2022 11:25 GMT

Inkjet Printing Market Size Predicted To Increase At A Positive CAGR Of 7.1% From 2022 To 2031


(MENAFN- America News Hour)

The inkjet printing market was valued at USD 48.3 billion in 2022, at a CAGR of 7.1% over the forecast period 2022 – 2031. Today's high-speed inkjet devices offer enhanced quality and productivity for early-adopter commercial printers, and this is driving the market forward. The market for ink-jet printers has expanded at a tremendous pace in the last few years. Due to heightened competition for market share among ink-jet producers, many innovative concepts and technological inventions have happened that are explicitly shown in today's color ink-jet products. With the ability of printing vivid color images at comparatively low cost, ink-jet has dominated the home, small office, and large-format color printer markets. The sensitive balance between image quality, image durability, print speed, purchase price, and operation cost will define the vestige of ink-jet technology in the color printer market.

– Inkjet printing is the fastest-growing print process in graphics and packaging printing. Inkjet will perform strongly than any other competing system over the next few years, largely due to the huge investments being made in inkjet technology. It has become an important production tool in diverse applications, with the printers and presses taking several different forms. Book printing is a growing area for inkjet printing, while magazines and catalogs are seeing substantial growth. Inkjet is frequently being used in commercial print applications, with wide-format and high-speed presses being joined by the very high-quality inkjet presses.

– The most prominent change is in packaging – as new, high-performance machines come onto the market, and the early adopters profit by developing new services for customers. Additional applications can be seen in inkjet-printed ceramics, decor, textiles, glass, biomedical and electronics, highlighting the breadth of capability that has been developed to commercial standards for digital print. The principal driver for the adoption of inkjet includes Big Data, the Internet of Things, and the digitalization of both print processes and packaging.

– Moreover, smart production, speed, flexibility and cost control also drive the adoption of inkjet printing as the businesses can become more flexible and responsive to customer requirements through the adoption of digital print, thus fueling the growth of the market being studied. Whilst switching to inkjet brings potential advantages, there are also restrictions – such as the higher cost of printing when it comes to longer runs, particularly when compared to analogue printing.

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Scope of the Report

Ink-jet printing is a non-impact dot-matrix printing technology in which droplets of ink are flown from a small opening directly to a designated position on a media to produce an image. Inkjet printing involves spraying tiny droplets of liquid ink onto paper. These are placed with precision, enabling almost photo-quality images. Inkjet's primary strengths are non-impact printing, which provides excellent flexibility in print systems, and inks that can print on nearly any substrate, including irregular objects.

Key Market Trends

Textile Segment is Anticipated to Hold a Dominant Share of the Market

– Dominant OEMs are increasingly taking an interest in the textile segment, promoting new business models, inks, media, printheads, and high-throughput machinery. The most prominent acceleration is prophesied to be in clothing, which has the important sub-segments of fashion, haute couture, and sportswear.

– Household textiles are anticipated to grow at the next fastest rate. Quick turnaround is a growing priority of textiles as the fashion segment comprises multiple mini-seasons and print-on-demand delivery. This particularly suits inkjet production with its decreased setup times, and are also generating direct online sales of printed clothing and household decor.

– Dye sublimation and other direct-to-fabric processes have seen a huge increase, driven by the shift from traditional analog screen printing to inkjet printing format production. Soft signage, interior decor, environmental graphics, exhibit graphics, technical/industrial textiles, as well as fashion and sports apparel – all of these markets are expanding because the inkjet textile market and solutions are developing faster than any printing market.

– Traditional wide-format OEMs are continuing to add new technology that will print on fabrics. This includes signage and displays (i.e. soft signage) such as posters, tradeshow graphics, banners, POP/POS displays, flags, etc. Then there's interior decor that includes chair, wall, and sofa coverings, bed sheets, table, drapes and curtains, and furniture coverings and even carpeting.

– Additionally, the very successful garment/apparel category includes wearables such as caps, sportswear, T-shirts, and more. All these applications are experiencing huge growth, thus boosting the market being considered to grow.

North America Dominates the Inkjet Printers Market

– With a series of investments in healthcare, aerospace & defense, industrial, and consumer product, inkjet printing applications in North America are set to boom over the upcoming years. There have been a range of innovative and unique product launches, mergers and acquisitions in North America to utilize the potential on offer through inkjet printing.

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– North America dominates the inkjet printers market by holding the largest market share of the total revenue generated worldwide. The penetration of advanced technologies and the grown-up industrialization in the North American region are the primary factor fueling the adoption of inkjet printers.

– Also, the North American inkjet printers market was led by the US, as a large number of the player operating in the global inkjet printers market is based in the US and the strategic activities of these players fuel the growth of this market.

Competitive Landscape

To tap the latent potential of the market, there are a lot of market players who are making their presence felt in the inks scene and contributing to a robust competitive landscape. Whether it is product launches, mergers, takeovers, or new marketing strategies, the market has vibrant competitiveness. HP Inc., Canon, Brothers Industries Ltd., are among the major players in the global Inkjet Printing Technologies market share. The companies are involved in many growth and expansion strategies to get a competitive advantage. Business participants also follow the value chain alliance with business transactions in various steps of the value chain.

– November 2019 – Reinforcing its motto of 'Business Can Be Simple', Canon India, one of the leading digital imaging company, announced the launch of its new 'Business Imaging Solutions' (BIS) lounge in Kolkata, and will serve as a one-stop destination for all office imaging requirements of organizations – big or small – in the region.

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The dynamic nature of the business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count ( SDKI ) provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

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