Global Wide Format Printers Market Size By Offering (Inkjet Printers, Laser Printers), Ink Type (Aqueous, Solvent, UV-Curable, Latex, Dye-Sublimation), Application (Commercial, Residential), and Region - Market Share, Trend Analysis, Competitive Intelligence, Historical Data, and Forecast 2023 - 2030
Market Perspective
Global Wide Format Printers Market size reached around USD 9.24 billion in 2022 and is anticipated to grow to about USD 15.02 billion by 2030 at a CAGR of approximately 6.39% between 2023 and 2030.
Wide format printers, originally designed for signage, communication, marketing, and advertising, have evolved into versatile tools catering to diverse industries. The market is driven by advancements in hardware and ink technology, offering efficient, cost-effective, and customizable printing solutions. Key trends include the rise of cloud-based management, innovative ink technologies like UV-curable and eco-friendly options, and the growth of connected devices for streamlined workflows. The market is robust in regions like Asia Pacific and North America, fueled by sustainable printing demands and expanding applications in graphic, textile, and CAD printing. Despite challenges such as maintenance issues and cost barriers for smaller firms, the wide format printers market holds promising prospects. As industries increasingly demand large-scale graphics and personalized designs, the market trajectory points toward continuous innovation and growth.
Key Insights
- Based on offering, the glass segment held the dominating position with a market value of USD 8.82 billion in 2022
- Based on ink type, the inkjet printers segment acquired the largest market share in 2022
- Based on application, the commercial segment is growing with the highest CAGR of 6.47%
- On the basis of region, Asia-Pacific accounted for the largest market share of 37.31% in 2022
Robust Demand for Large Format Graphics Fuels Market Expansion
The rapid growth of the wide format printers market can be attributed to the robust demand for large format graphics across various industries. As businesses strive for enhanced visibility and impactful branding, the need for eye-catching signage, banners, and displays has intensified. This surge in demand has driven the adoption of wide format printers, which offer the capability to produce high-quality, attention-grabbing visuals on a significant scale. The versatility and customization options provided by these printers enable companies to create unique and tailored graphics for different applications, ranging from retail marketing to architectural plans. This trend of embracing large format graphics as a powerful communication tool has propelled the expansion of the wide format printers market, promising continued growth and innovation in the years ahead.
Maintenance Complexities Pose Challenges to Market Growth
The global wide format printers market faces a notable challenge due to the complexities associated with maintenance. As these printers become increasingly sophisticated with advanced print head technology and diverse ink options, the need for regular maintenance and upkeep arises. Maintaining optimal performance and extending the lifespan of wide format printers requires specialized knowledge, time, and resources. This can lead to operational disruptions and downtime for businesses, affecting productivity and delaying project timelines. Smaller firms, in particular, often struggle to justify the investment in both the equipment and the maintenance costs. The intricate nature of these printers demands skilled technicians who can diagnose issues, calibrate color accuracy, and ensure compatibility between various components. Moreover, the reliance on specialized maintenance services can lead to additional expenses, reducing the cost-effectiveness that wide format printing promises.
Recent Development
March 2023: Konica Minolta Business Solutions U.S.A., Inc. introduced the AccurioWide 250 hybrid wide format inkjet system, setting a new benchmark in speed and width. This innovative device guarantees steadfast image quality and vibrant colors, offering a significant leap forward in the market's pursuit of consistent and impactful large-format printing.
Segmentation Analysis
Based on offering, the market is bifurcated into inkjet printers and laser printers. The inkjet printers segment is dominating the market, holding a revenue share of 95.36% in 2022. This domination can be attributed to the fact that inkjet printing is widely accepted and versatile, making it the popular choice for many printing needs. The effectiveness, quality, and flexibility, make inkjet printers an essential part of modern printing solutions used in various industries.
Based on ink type, the market is classified into aqueous, solvent, UV-curable, latex, and dye-sublimation. The UV-curable segment has become the dominant force in the market due to its unique advantages. UV-curable inks have a faster drying time, which increases printing speed and reduces production time. Additionally, they offer durability, scratch resistance, and vivid color reproduction on a variety of materials. UV-curable ink is also eco-friendly since they emit low levels of volatile organic compounds.
Based on application, the market is segmented into commercial, and residential. In 2022, the commercial segment dominated the market, generating an impressive revenue of USD 8.78 billion. This dominance can be attributed to the versatility of wide format printers in commercial settings, allowing for the production of high-quality prints on a variety of materials and sizes. Additionally, the growing demand for large-format prints in advertising and marketing campaigns has fueled the growth of this segment.
The Dominance of Asia-Pacific is Driven by Economic and Technological Factors
The Asia-Pacific dominated the global market in 2022, generating the highest revenue of USD 3.45 billion. The growing economy, rapid urbanization, and thriving advertising industry has impelled the demand for large-format printing across various sectors, including retail, advertising, and architecture. Additionally, the advanced manufacturing capabilities of key players and technological advancements in the region have enabled the production of high-quality and cost-effective printers, increasing market penetration. As the need for visually appealing graphics in e-commerce and digital marketing grows continuously, the demand for wide format printers will continue to rise. It is expected that the dominance of Asia-Pacific in the wide format printers market will continue through 2030, driven by a combination of economic, technological, and market-driven factors.
Europe's Robust Growth in the Market is Fueled by Sustainability Demands
Europe is the second-fastest growing region in the wide format printers market and is slated to depict a CAGR of 6.50% through the assessment period. The region's focus on sustainable printing practices, the increasing demand for large-format printing in the retail and advertising industries, and the growth of the construction industry have led Europe to significant growth in the market. Sustainable printing practices have led to the adoption of eco-friendly inks and substrates, which have gained popularity among consumers. The retail and advertising industries are increasingly using large-format printing to create visually appealing graphics, driving the demand for wide-format printers. Furthermore, the expansion of the domestic construction industry has also been a key driver of growth, on account of the increasing use of large-format printing in architectural designs and construction projects. All of these factors have contributed to the growth of the Europe-wide format printers market, with the region expected to continue growing substantially in the forecast years.
Competitive Landscape
The global wide format printers market is fragmented with numerous prominent players in the market. Companies employ a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position. The key players in the market include-
- Canon Inc.
- FUJIFILM
- HP Development Company, L.P.
- Konica Minolta Inc
- Lexmark International, Inc.
- Mimaki Engineering Co., Ltd.
- MODIX MODULAR TECHNOLOGIES LTD
- Mutoh
- Seiko Instruments Inc.
- Xerox Corporation
The global wide format printers market is segmented as follows:
By Offering
- Inkjet Printers
- Laser Printers
By Ink Type
- Aqueous
- Solvent
- UV-Curable
- Latex
- Dye-Sublimation
By Application
- Commercial
- Residential
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- GCC
- South Africa
- North America
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
ARE YOU SEEKING COMPREHENSIVE INSIGHT ON VARIOUS
MARKETS?
CONTACT OUR EXPERTS TODAY
Speak to an Expert
Global Wide Format Printers Market Size
- August-2023
- 148
- Global
- semiconductor-electronics
Related Research
1,5-pentanediamine (Cadaverine)-Global Market Status & Trend Report 2022-2030 Top 20 Countries Data
December-2020
26650 Cylindrical Lithium Ion Battery Market Insights 2022, Global Analysis and Forecast to 2030
May-2021
2K Panel-Global Market Status and Trend Report 2015-2026
November-2020
300mm Wafer Carrier Boxes-Global Market Status & Trend Report 2022-2030 Top 20 Countries Data
January-2021
3D IC & 2.5D IC Packaging-Global Market Status & Trend Report 2022-2030 Top 20 Countries Data
November-2020