Digital Printing Market for Printers, Inks, and Print Heads by Ink Type - Global Forecast to 2023

The digital printing market is expected to grow from USD 21.08 Billion in 2016 to USD 28.85 Billion by 2023, at a CAGR of 4.48% between 2017 and 2023. This report provides the market size and future growth potential of the market across different segments such as ink type, print head type, substrate type, and geography. The study identifies and analyzes the market dynamics such as drivers, restraints, opportunities, and industry-specific challenges for the market. This report also profiles the key players operating in the market. The base year considered for the study is 2016, and the market size forecast is provided for the period between 2017 and 2023.

This report covers the market based on ink type, print head type, substrate type, and geography. The UV-cured ink type is expected to lead the market between 2017 and 2023. The UV-cured ink type is expected to be the fastest-growing deployment mode in the market as it offers benefits such as quick drying, environment-friendly, low price, and resistance to UV rays.

The development of packaging and textile industries, and reduction in per unit cost of printing with digital printers are majorly driving the growth of digital printing technologies worldwide.

The market in APAC is expected to grow at the highest rate between 2017 and 2023. APAC has witnessed a rapid growth in industrialization over the past decade, which has created a lot of opportunities for MPS. APAC is the market leader pertaining to the overall textile printing industry. China and India are the biggest suppliers of textiles and comprise the maximum number of textile printing owners and marketers. They also hold the largest base of textile manufacturers. These factors are majorly contributing to the growth of the market in APAC during the forecast period.

North America is expected to hold the largest share of the market in 2023. The North American market has many startups and favorable compliance and government regulations for the business environment. The enterprises in this region have a rapid growth rate and a heavy demand for digital printing technology. Due to favorable government regulations, European companies are also investing in the North American market, which is expected to help the region to have the maximum share of the digital printing market.

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The major challenge for the companies in the market is the rising demand for digital advertisements and e-books. The major vendors in the digital printing market include Xerox (US), Hewlett-Packard (US), Ricoh (Japan), and Canon (Japan). These players adopted various strategies such as new product developments, mergers, partnerships, collaborations, and expansions to cater to the needs of customers.

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