Large Format Printers Market size is set to grow by USD 1.17 billion from 2024-2028, Growing adoption of UV-curable ink to boost the market growth, Technavio

NEW YORK, June 21, 2024 /PRNewswire/ -- The global large format printers market  size is estimated to grow by USD 1.17 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  2.91%  during the forecast period.  Growing adoption of UV-curable ink is driving market growth, with a trend towards rising adoption of latex ink. However, emergence of digital substitution  poses a challenge. Key market players include Agfa Gevaert NV, ARC Document Solutions Inc., Canon Inc., Durst Group AG, Electronics For Imaging Inc., FUJIFILM Corp., Hewlett Packard Enterprise Co., Konica Minolta Inc., KYOCERA Corp., Lexmark International Inc., Mimaki Engineering Co. Ltd., MUTOH INDUSTRIES LTD., Oki Electric Industry Co. Ltd., Ricoh Co. Ltd., Roland DGA Corp., Seiko Epson Corp., Shenyang Sky Air Co. Ltd., Sony Group Corp., swissQprint AG, and Xerox Holdings Corp..

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Key Market Trends Fueling Growth

The large format printers market is experiencing growth due to the increasing adoption of latex ink. HP, Ricoh, and Mimaki are among the vendors adopting this water-based polymer technology. Latex ink is odorless, suitable for indoor applications, and has a three-year lifespan. Its advantages include avoiding outgassing and eliminating the need for air purification or solvent extraction. However, high energy consumption due to pre- and post-print heating is a disadvantage. Despite this, latex ink's popularity is expected to continue, positively impacting the market's growth. 

The Large Format Printer market is experiencing significant growth, driven by advancements in technology. Printing technologies such as solvent, UV curable, and dye-sublimation are trending. These printers offer high resolution and large print sizes, making them ideal for producing banners, posters, and other marketing materials. The use of inkjet technology in large format printers is increasing, providing faster print speeds and improved color accuracy. Additionally, the integration of software solutions for remote printing and management is a key trend. Companies are also focusing on energy efficiency and sustainability, with eco-solvent and latex inks gaining popularity. Overall, the Large Format Printer market is dynamic and innovative, offering businesses effective solutions for their marketing needs. 

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Market Challenges

• The digital shift is significantly impacting the large format printers market. With the rise of online work and advertising, traditional printing methods are losing favor. Time-consuming and costly printing processes for posters, banners, and pamphlets have been replaced by faster and more cost-effective digital alternatives. The shift towards online retailing and advertising further diminishes the demand for large format printers. As a result, the global large format printers market is expected to experience restrained growth during the forecast period.
• The Large Format Printer market faces several challenges. Print technology is constantly evolving, requiring printers to keep up with the latest trends and advancements. Cost is a significant challenge, as large format printers can be expensive to purchase and maintain. Additionally, the market is highly competitive, with many companies offering similar products. Another challenge is the need for high-quality prints, as customers demand accurate and vibrant colors. Lastly, sustainability is becoming a major concern, with the industry under pressure to reduce waste and use eco-friendly materials. These challenges require printers to be innovative, cost-effective, and environmentally conscious to remain competitive in the market.

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Segment Overview 

This large format printers market report extensively covers market segmentation by

1. Technology 
• 1.1 Aqueous
• 1.2 Solvent
• 1.3 UV-cured
• 1.4 Latex
2. Type 
• 2.1 Ink-based
• 2.2 Toner-based
3. Geography 
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Aqueous-  The Large Format Printer market is experiencing steady growth due to increasing demand for high-quality graphics in advertising and signage industries. Businesses are investing in large format printers to produce eye-catching visuals for billboards, banners, and vehicle wraps. These printers offer superior print resolution and size capabilities, making them essential tools for marketing campaigns and events. Additionally, advancements in printer technology enable faster production and improved color accuracy, further enhancing their value to businesses.

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Research Analysis

The Large Format Printers market encompasses a range of solutions designed for producing Rolls, Banners, Posters, Car wraps, Murals, and Hoardings. These printers utilize advanced technologies such as UV-curable ink, Dye sublimation ink, Laser printing, and Aqueous inkjet printers for delivering high-quality prints. UV curing and UV-curable inks are essential components, ensuring swift drying and vibrant colors. The Advertising industry relies heavily on these printers for creating eye-catching Graphics for Trade fairs, Mobile advertising, and Signage. Dye-sublimation printing is a popular technique for transferring designs onto various materials, including textiles and polyester. Additionally, Large Format Printers are used for producing Wallpapers, Vehicle images, and Event photography prints. These printers cater to diverse industries, offering versatility and flexibility in creating customized Print materials for various applications. Key technologies include UV-curable inks, Dye sublimation inks, and Inkjet printers, ensuring high-quality, long-lasting prints.

Market Research Overview

The Large Format Printers market encompasses printing technologies capable of producing large-scale graphics, typically used for outdoor advertising and interior decor. These printers utilize various technologies such as roll-to-roll and flatbed, with UV and solvent inks. The market is driven by the growing demand for large format graphics in various industries, including retail, real estate, and transportation. Additionally, advancements in print technology, such as higher resolution and faster print speeds, are fueling market growth. The market is segmented by technology, application, and end-user. The application segment includes outdoor and indoor advertising, point of sale displays, and interior decor. The end-user segment includes retail, real estate, transportation, and others. The market is expected to grow significantly in the coming years due to the increasing popularity of large format graphics and the continuous advancements in print technology.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Technology
• Aqueous
• Solvent
• UV-cured
• Latex
• Type
• Ink-based
• Toner-based
• Geography
• APAC
• North America
• Europe
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

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Website: www.technavio.com/

SOURCE Technavio