The Global Market for Wide Format Printers is Projected to Reach US$7.2 Billion by 2022

Technology Innovation & Sheer Diversity of Applications Drive Growth in the Wide Format Printers Market, According to a New Report by Global Industry Analysts, Inc.

                                                                                                

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Wide Format Printers market. The global market for Wide Format Printers is projected to reach US$7.2 billion by 2022, driven by the growing user demand for faster turnarounds and short run print jobs, coupled with the sheer diversity of applications and technological innovations.

                                                                                             

Despite the onslaught of online and electronic media, print media remains relevant, providing brands with a portable, flexible, tangible and technology-free medium for consumer engagement and interaction in a manner that digital media is incapable of. Wide format printing and Grand or Super Wide format printing, is a powerful marketing communication and promotion tool, with large-size prints being a highly popular display option for conference, public events, trade shows, product or business launches, and art exhibitions. The convergence of wide format printing with digital media is one of the key growth accelerators in the market, with large-format print service providers leveraging technological innovation and creativity in order to find new ways for print media to complement digital media.

Traditional printing businesses have a compelling reason for integrating wide format printers into their portfolio in order to supplement their revenues. Against the backdrop of the growing user demand for short-run print jobs and faster turnarounds, large format printing meets the objectives of reducing overhead costs, speeding up turnaround time, and boosting return on investment through on-demand and just-in-time printing. Wide format printing delivers fast turnaround time, improved operating environments, highly efficient workflows and better logistics, which translates into economic and environmental benefits for printing service providers. Traditional commercial printing firms are complementing their existing capabilities with wide format printing in order to transform into single-window counters for all the printed communications material requirements of customers from diverse verticals including media and advertising, entertainment, event management, retail, healthcare, education, and hospitality, among others.

The sheer diversity of applications is one of the key reasons why wide format printed materials continue to be used even in the present digital marketing age. In addition to producing banners, signage, posters, wall coverings, printed textiles, window and vehicle graphics, labels and POP displays, wide format printing provides commercial printers a stepping stone into markets such as packaging and proofing. The rapid global penetration of the Internet has unlocked a huge market for mass customization and personalization of printer articles, thereby opening a world of opportunities for wide format printers. The growing demand for 3D printing is expected to spur the market for wide format printers. Solvent and eco-solvent inks are the ideal choice for wide format printing applications such as outdoor durable signage, vehicle wraps and point-of-purchase/point-of-sale displays. However, owing to concerns related to the environmental impact of volatile organic chemicals (VOCs) present in solvent inks, print service providers are shifting from solvent inks to aqueous and UV curable inks.

As stated by the new market research report on Wide Format Printers, Europe represents the largest regional market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 5.8% over the analysis period. Among the ink types, Solvent Ink Type Wide Format Printers constitutes the largest market segment, while UV-Cured Ink and Latex Wide Format Printers are poised to clock the fastest growth over the analysis period.

Major players covered in the report include Agfa-Gevaert Group, Canon Inc., Océ-Technologies B.V., Durst Phototechnik AG, Electronics for Imaging Inc., Epson America Inc., HP Inc., Konica Minolta Inc., Mimaki Engineering Co. Ltd., Ricoh Company Ltd., Roland DG Corporation, and Xerox Corporation, among others.

The research report titled “Wide Format Printers: A Global Strategic Business Report” announced by Global Industry Analysts Inc., analyzes a wealth of data including technological trends, growth drivers and major challenges that are shaping the global Wide Format Printers market, as well as profiles of leading vendors, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin America), and Rest of World.

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