According to SPER Market Research, the Digital Printing Market is he global digital printing market, which uses digital technology to produce printed goods. In comparison to conventional printing techniques, digital printing has a number of benefits, such as quicker printing times, reduced prices, and the capacity to print in smaller quantities.
Many factors, including as the rising need for personalized and customized printing, the expanding use of digital printing across numerous industries, and improvements in digital printing technology, are propelling the market. Digital printing options on the market include inkjet printing, electrophotography, and thermal transfer printing. Numerous well-established businesses are vying for market share in this fiercely competitive sector. Yet, due to the low entry barriers and great demand for digital printing, there are continuously new competitors entering the industry.
The COVID-19 pandemic has caused a conflicting effect on the world market for digital printing. On the one hand, the epidemic has caused the economy to slow down, which has decreased demand for printed goods in a variety of industries. The market has suffered as a result. The epidemic, on the other hand, has also raised demand for printed documents pertaining to healthcare and other services. This has caused demand to shift from some market categories to others. Also, as more companies adopt remote work and e-commerce strategies, the epidemic has sped up the use of digital printing technologies. This has opened up prospects for the sector, especially in fields like e-commerce packaging and labelling. However, despite the pandemic’s negative effects on some industry categories, it has also expedited the adoption of digital printing technology and produced new growth opportunities.
Digital Printing Market Overview:
- Forecast CAGR (2022-2032): 6.95%
- Forecast Market Size (2032): 51.93 billion
Digital printing techniques are created to offer quick, precise, and short-run colour printing at a reasonable price. Compared to the offset technique, the digital printing systems are tools that provide high-quality finished products. Compared to more conventional methods, it offers the most cost-effective option for customised marketing materials like business cards, letters, direct mail, and more. Additionally, digital printing speeds up delivery of the finished product by reducing the length of the manufacturing cycle.
Impact of COVID-19 on the Global Digital Printing Market
The Global Digital Printing market as a whole has been affected by COVID-19, and the growth rate for 2019–2020 has also been impacted as the effect of COVID-19 spreads. The market’s growth rate declined in 2020 due to the appearance of COVID-19, and it is predicted that development will remain moderately slow through the end of 2021. The COVID-19 pandemic in the construction industry caused a number of challenges for the market, including the availability of food, health and safety regulations, deliverables, contractual obligations, and project delays or cancellations. As a result, the demand for the global digital printing industry dropped
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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.
- Commercial Printing
By Print Head:
- Plastic Films/Foils
- Paper and Paper Board
- Middle East & Africa
- North America
- Latin America
The increasing demand for digital printing solutions in the packaging, textiles, and advertising industries is driving the market growth in this region. Additionally, the growing adoption of digital printing in the publishing industry and the increasing government initiatives to promote digital printing solutions are further contributing to the growth of the market.
Digital Printing Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Hawlett- Packyard Development Company, Canon, Inc., Ricoh Company Ltd., Mimaki Engineering Co. Ltd., Roland DG Corporation, Xerox Corporation, Seiko Epson Corporation, Toshiba, Panasonic, Durst Phototechnik AG, Inca Digital Printers Limited, Printronix, Oki Electric Industry, Kyocera Corporation, Neuralabel Printing Solution
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