New York City, NY, 14 January, 2020/ 24 Market Reports: It is estimated for the large format printer market to grow from USD 8.4 billion in 2016 to that of USD 10.2 billion by 2023 witnessing the growth at a CAGR of 3.8% during the forecast period of 2017 to 2023. The increasing demand for large format printing in the textile, advertising, and packaging industries; the rising adoption of UV-curable inks in outdoor advertising, CAD, and technical printing applications; and the growing importance of digital document production in commercial printing applications are the factors that are driving the growth of the market during the forecast period.
24’’ to 36’’ large format printers to lead the market during the forecast period
The large format printer with a print width ranging from 24’’ to 36’’ is expected to achieve the highest growth in the market during the forecast period. From tile murals and signage to CAD applications, these printers can be employed in various applications and own great versatility. Many manufacturers are providing significant growth to this market.
Large-format inkjet printer market to hold the highest share in the market during the forecast period
In the technical and CAD printing, there is increasing use of large format inkjet printers which is the major reason for the growth of the large format inkjet printers or ink-based printers. As these printers use lesser colours and own higher printing speed than inkjet printers these are preferred in industries such as architecture, engineering, and construction. The widespread adoption of inkjet printers in this industry is been taking place with time as large format inkjet printer manufacturers have started providing faster inkjet printers with reduced running costs for the large type of printing.
Signage application to hold the highest share in the market during the forecast period
Increased number of uses of indoor signage such as warning signs on highways and roads, large corporate emblems, promotional signage and window displays are driving the growth of the market for the large format printer market for signage applications. The increasing demand for signage is expected to drive the demand for large format printers market during the forecast period.
The Americas to dominate the global market during the forecast period
Due to the rapid growth in the signage and advertising sector in the Americas, the market in the region is witnessing the growth at a rapid pace during the forecast period. Major players in the region are investing more in outdoor advertising and indoor signage thus driving the growth for the market during the forecast period. The market in the region is much more mature compared to that of the markets in APAC and other regions. The Americas is estimated to lead the market throughout the forecast period.
The following are the major objectives of the study:
- To define, describe, and forecast the large format printer market on the basis of product, application and region.
- To provide detailed information regarding major factors influencing growth of the market (drivers, restraints, and opportunities).
- To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market.
- To analyze the opportunities in the market for key stakeholders and provide details of the competitive landscape for leading market players.
- To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
- To strategically profile the key market players and comprehensively analyze their market shares and core competencies.
- To track and analyze competitive developments such as acquisitions, expansions, new product launches, agreements, and collaborations in the large format printer market.
Critical Questions which the report answers:
- What are the major vendor/manufacturers in the market? What is their growth potential during next decade?
- What are the key revenue generating pockets for large format printer market and their future potential during next decade?
- How competitive landscape is evolving in large format printer market?
