Digital Printing Market Trends 2023, Drivers, Growth Opportunities, Challenges, and Investment Opportunities

According to the latest report by IMARC Group, titled “Digital Printing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global digital Printing market trends. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The global digital printing market size reached US$ 27.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 39.7 Billion on by 2028, exhibiting a growth rate (CAGR) of 6.5% during 2023-2028.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Digital printing is a modern method of printing electronic files from a desktop or other digital storage device. It prints digital-based images directly onto multiple media substrates such as synthetics, canvas, fabric, cardstocks, and photos. These files can also be converted into varying types of documents, such as portable document files (PDF) and JIP. It is simple, versatile, eco-friendly, cost-effective, durable, and flexible, offers high quality, provides improved accuracy and customization, and requires minimal operational space and time. Owing to these benefits, digital printing is widely utilized for high-resolution printing patterns and customized marketing materials across the globe.

Key Industry Trends and Drivers:

The market is primarily driven by the rising adoption of digital printing in the textile industry due to the surging need for ultraviolet (UV) radiations cured ink, high-quality graphics, detail, and clarity printing machines. In addition, the expanding packaging industry and the escalating demand for labels, metal packaging, cartons, and corrugated and flexible packaging, is contributing to the market growth. Moreover, various technological advancements, such as the introduction of the internet of things (IoT), artificial intelligence (AI), and machine learning (ML), represent another major growth-inducing factor.

Besides this, the growing environmental awareness regarding conventional printing technologies such as solid ink and offset printing is encouraging key players to launch advanced digital printing solutions, including mild solvents and less-harmful chemicals, which is providing a positive thrust to the market growth. Furthermore, strategic collaborations amongst leading market players and the increasing utilization of digital printing in clothing, automobiles, e-commerce, soft-signage, media, and advertisements industries to produce promotional wears, banners, and flags, are also creating a favorable market outlook across the globe.

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For the competitor segment, the report includes global key players of the digital printing market.

Amcor plc, Avery Dennison Corporation, Canon Inc., DIC Corporation, DS Smith plc, Durst Group AG, Inca Digital Printers Ltd. (Agfa-Gevaert Group), Konica Minolta Inc., Multi-Color Corporation, Ricoh Company Ltd., Seiko Epson Corporation, Walsworth Publishing Company, Xeikon B.V. (Flint Group) and Xerox Corporation.

Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Type:

• Inkjet
• Laser

Breakup by Ink Type:

• Aqueous Ink
• UV-Cured Ink
• Solvent Ink
• Latex Ink
• Dye Sublimation Ink

Breakup by Application:

• Plastic Film or Foil
• Fabric
• Glass
• Paper/Books
• Ceramic
• Others

Regional Insights:

• Asia Pacific
• North America
• Europe
• Middle East and Africa
• Latin America

On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.

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