The large format printers market size was valued at USD 9.23 billion in 2022. It is projected to reach USD 12.62 billion by 2031, growing at a CAGR of 3.54% during the forecast period (2023-2031).
A large format printer is a computer-controlled printing device that helps print rolls with widths between 18" and 100". Instead of printing on several sheets of paper, this printer prints on a single sizable sheet. These are used for projects like banners, posters, car wraps, architectural drawings, trade fair graphics, and murals that need printing at a wider width. Due to the big format display's popularity as a display choice for conferences, trade exhibits, public events, and art exhibitions, these are widely utilized in businesses as an assertive communication and marketing tool. The availability of mobile advertising and printing facilities that give customers the option to print documents directly using their mobile phone or any other wireless device, as well as the rising demand for large format printing across a variety of industries like textile, packaging, and advertising, are the main factors propelling the market for large format printers.
The three main sectors supporting worldwide market revenue expansion are advertising, packaging, and textile. Large format printers are used by numerous national and international corporations and brands to support their out-of-home advertising campaigns. Additionally, the media's size makes it apparent from a distance. Advertising draws in the target audience and enhances sales and revenue by utilizing tools like giant hoardings, banners, signage, and building wraps. Short-run packaging is now more in demand due to the market's rising localization. It enables the businesses to offer specialty product producers or neighborhood merchants niche packaging, empowering the end users to pursue new markets and boost their sales revenues. These printers are used in extensive format packaging for a variety of commercial products in the food and beverage, electrical and electronic, leisure, and furniture industries. Over the forecast period, it is projected that these industries will continue to thrive and see rising demand for their products, supporting the demand for big-format printers.
A digital advertising medium is one of the main things preventing the market from expanding over the projection period. Although print-based advertising is more affordable for marketers, the benefits of digital media cannot be ignored. As a result, it is anticipated to pose a significant challenge to the market's expansion. Digital advertising platforms give users more flexibility by allowing them to display different content without completely replacing the media. In the long run, it lowers the cost of advertising and offers a better return on investment. More end users with sizable advertising expenditures are switching to media that rely on digital advertising because of this,impeding the market's expansion.
Large format printers have evolved due to printer technology developments in several ways. One of these aspects is the ability to generate a high-quality print in a shorter amount of time. The need for quicker turnaround times among end customers is growing, which has propelled industry participants to create printers with high print speeds. Additionally, numerous printers now print without user intervention, speeding up the printing process. Technology must always progress if the consumer base is to grow and the business is to continue expanding. As a result, several companies continually improve their efforts to produce advanced printers. CAD printers are intricate devices that demand precise and accurate printing technology, particularly when printing on larger sizes where the designs are more prominent. The majority of architects and engineers that create intricate, substantial structures adopt these ideas. Businesses are launching new goods designed expressly for these printing uses.
Based on type, the global large format printers market is bifurcated into the printer and allied software and services.
The printer segment is the highest contributor to the market and is estimated to grow at a CAGR of 3.65% during the forecast period. Printers that employ ink cartridges are called inkjet models. These printers have many extremely precise microscopic nozzles, which expel ink onto the media. These printers typically have four primary ink colors, including CMYK, on their ink heads (CYAN, Magenta, Yellow, and Black) that produce numerous hues in the color spectrum. High-resolution images are created using inkjet printers rather than toner-based printers. High-quality photographs are needed for various applications, including advertising, branding, company displays, menu displays, and other uses.
Additionally, businesses are spending a lot of money marketing their goods. As a result, they employ a variety of signages with graphic imagery. Printers that project an electrostatic charge onto a printing drum are known as toner printers. These printers transfer the dry toner, a powder-based medium, to the substrate or media and then fuse the dry toner into the substrate or media using a heated fuser. Regarding applications requiring enormous volumes of printing, toner-based printers are less expensive. As inks need to be refilled after a brief period of use, they serve as a costly printing medium. They also dry out if inks are not used for a while. This is not the case with toner-based printers because the ink does not gradually dry out and generates many prints, lowering the cost per print.
Software used to streamline the printing process, and production is referred to as large-format printer software. These software applications can be sold independently or in packages with printers to give clients various purchasing options. By allowing users to design, print, and use numerous printers concurrently, these software tools enable customers to speed up the printing process. Companies are encouraged to create cutting-edge software products that consumers may utilize to improve printing efficiency by the growing demand to shorten time to market. The printers need frequent upkeep and repair to operate continuously and without interruption, raising the printer's overall operating expense. To prevent frequent repairs and maintenance, users of the printers must also receive technical training. The market for services is consequently driven.
Based on ink type, the global large format printers market is bifurcated into aqueous ink, solvent ink, UV-curable ink, and dye sublimation ink.
The aqueous ink segment owns the highest market and is estimated to grow at a CAGR of 7.63% during the forecast period. Aqueous ink, often known as water-based ink, is an ink that predominantly uses water as a solvent. Fine painting and photography printing frequently employ this kind of ink. Additionally, it is simple to handle because the aqueous ink penetrates the media quickly and dries swiftly. This kind of ink is also reasonably odorless. The majority of large format printers on the market use aqueous ink. These printers are the most popular choice for numerous small- and large-scale end-users because of their low cost. Various applications, including printing on porous substrates such as corrugated boards, papers, and cardboard, have shown the value of aqueous inks, which is more frequently used in textile and décor applications. Compared to UV-based printing, aqueous ink seems to be a safe alternative for printing applications in the food and beverage industry. Many industries, including the laminate flooring and furniture business and the packaging industry, notably corrugated packaging, are investigating inkjet-based printing solutions.
Dye-sublimation ink is being used more frequently because of its excellent photographic outcomes. Thermal transfer is used in printers that use dye-sublimation ink to transfer various amounts of colored dye pigments from a carrier film to the PVC printing surface, where the dyes chemically bond. Due to its versatile use on multiple products, dye-sublimation printing is increasingly gaining popularity among printers of promotional products. Fabric and stiff materials are the substrates used for this printing process. Companies are also utilizing this printing technique for ceramic tiles and banners. Instead of printing on the surface, it produces permanent color embedded in the substrate or fabric. Even after repeated washings, the dye-sublimated fabric doesn't fade or split. The dye sublimation printing process is mainly used to print clothing and other items. Moreover, value-added elements like fashionable prints and practical cuts significantly influence consumers' purchasing decisions. Manufacturers and designers are answering these needs and concentrating on including contemporary features, propelling this ink's market expansion.
Based on the end-user industry, the global large format printers market is bifurcated into apparel and textiles, signage, advertising, décor, cad and technical printing, and other end-user verticals.
The apparel and textiles segment is the highest contributor to the market and is estimated to grow at a CAGR of 4.56% during the forecast period. Printing clothing and textiles is a prominent use for large format printers. Several sorts of extensive format printing techniques are used to print numerous articles of clothing. Multiple clothing items composed of materials like cotton, polyester, and silk are shared among the general public and are consequently frequently printed. Another trend spawned by the epidemic was the explosion of athleisure clothing. Customers wore T-shirts and yoga pants instead of formal and business-casual clothes. According to many well-known firms, like Lululemon, Calvin Klein, Athleta, Tommy Hilfiger, etc., athletic clothing sales were strong. Businesses have therefore started to focus on providing such apparel to customers to suit market demand.
Among all the uses for big format printers, advertising has a dominant market share. Many local, regional, and global firms use large format printers for their varied advertising requirements, such as informing the public about the company, its expansions, new product releases, and other demands. There are many different kinds of signage solutions on the market that end users use for advertising purposes. Advertising uses various means, including banners, pop-up displays, billboards, decals, car wraps, etc. Brands and corporate groups employ these extensively. Therefore, large format printers are used to print these powerful advertising instruments. With the help of these printers, customers may print these products with top-notch images and designs without sacrificing quality. Due to their adaptability and widespread use in advertising media, banners have a substantial market share. The industry offers a wide range of materials, including fabric banners, vinyl banners, and mesh banners, among others.
The global large-format printer market is bifurcated into four regions: North America, Europe, Asia-Pacific, and LAMEA.
Asia-Pacific is the most significant revenue contributor and is expected to grow at a CAGR of 4.97% during the forecast period. Digital media is expanding due to increasing smartphone adoption in the area. Additionally, the sophisticated analytics offered by digital media encourage businesses and brands to use digital channels for advertising. The custom clothing printing market, which includes the custom t-shirt printing market, is likewise dominated by the Asia-Pacific region. The region is anticipated to experience considerable growth in the upcoming years. As a result, it is expected that demand for big-format printers will rise. In the Asia-Pacific area, shipments of industrial printers decreased in the first quarter of 2020. However, the shipments increased in Q2 of 2020 due to the slow opening of the Asian markets. The demand for large format printers in Asia-Pacific is anticipated to rise due to improving market conditions and consumers' return to physical stores.
North America is expected to grow at a CAGR of 2.42% during the forecast period. One of the countries that adopt technology the quickest globally is the United States. Companies that produce big format printers are heavily invested in creating technology that can serve a wide range of end users. Events, meetings, concerts, the retail, building, and hospitality industries, as well as other sectors, all significantly influence the large format printing market. Many areas of the big format printing business are recovering along with these industries, which are still in recovery. In the United States, retail sales are anticipated to increase by more than 2% in 2021. But as customers switch to new purchasing patterns like online shopping and pick-up in-store, many purchases are made through online sales channels (BOPUS). As a result, businesses adjust their marketing strategies to account for the shifting client purchasing channels.
During the coronavirus pandemic, 13% of Canadians made their first-ever online food purchases, marking a notable increase in the country's e-commerce grocery sales. Experts predict that internet shopping will continue to grow over time. The country's development of large-format printing is expected to be severely hampered by the migration of physical purchasing to digital channels. The government's easing regulations and the progressive opening of the economies are reviving outdoor market traffic. Traditional and out-of-home advertising is making a comeback as a result. The market for OOH advertising is also growing significantly due to technological advancements. The OOH advertising spends are expected to increase by 14.6% per Media in Canada.
The UK frequently need more funding since new start-up enterprises as they choose inexpensive marketing and advertising methods. These businesses generally favor printed advertisements due to their inexpensive cost, which can be found in signage, pop-up displays, banners, and billboards, among other forms. The adoption of big format printers across the nation is anticipated to be accelerated by the rising number of such start-up businesses. Numerous printing service companies are modernizing their printers to accommodate the expanding consumer base. For instance, Wilmot Budgen Ltd, an English company that offers commercial printing services, reported in November 2021 that it had upgraded to a new Inca Onset X2 with a printing speed of up to 707 sqm/hr. The market for big format printers is anticipated to grow as businesses update to newer printers that offer improved turnaround time.
German consumers have high standards and are well-informed. They are fully informed of the most recent fashion trends while shopping for the best price and value. Germany ranks fourth globally in total manufacturing output, making it another essential industrial nation. The nation is one of the biggest apparel makers in Europe. Therefore, its prominence also extends to the fashion sector. Germany's fashion business is also connected with international markets, with significant exports and imports. The nation is also well-known for its textile production.
In Latin America, nations like Brazil and Mexico are the leading advertising marketplaces. The pandemic significantly impacted advertising revenue, and the market under study is shifting toward using digital channels for advertising. As a result, it is anticipated that during the following years, printed advertisement revenues will decline. A significant development in the Middle East and Africa was increased digitalization. Businesses and brands in the area embrace new methods of interaction and embracing advanced technologies. People increasingly prefer to buy goods online as e-commerce spreads throughout the regions. Businesses are increasingly turning to digital channels for advertising, which is one of the factors holding back the significant expansion of traditional print media for advertising.
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