Large-format printing market sails for ‘significant growth’ by 2030
According to new research by Allied Market Research titled ‘Large Format Printer Market by Offering, Printing Technology, Print Width, Ink Type, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030’, the global large-format printer market was valued at US$9.15 billion in 2020. The figure is projected to register an annual growth rate of 4.2 percent to reach US$13.7 billion by 2030. Inkjet printing now accounts for more than 50 percent of the large-format market. Prominent factors that impact the large-format printer market growth are increasing usage of large-format printers in textile and advertising industries, growing popularity of dye-sublimation printing, and increasing adoption of UV-curable inkjet printer.
The inkjet printing segment accounted for more than 50 percent of the large-format printer market share in 2020, while the solvent segment is projected to grow at a CAGR of 2 percent during the forecast period. The report’s findings include – high initial investments and operating costs are restricting market growth; advancements in technology such as ink and ink-level monitoring software have enhanced efficiency and productivity; the rise in demand for digital print on curtains, wall hangings to cushions, and bed covers is accelerating adoption of large format printers for home décor applications. The report cautioned that COVID-19 is having a large impact on both consumers and the economy.