PUNE, India, August 2, 2016 /PRNewswire/ --
According to a new market research report "Large Format Printer Market by Ink Type (Aqueous, Solvent, UV-Curable, Latex, Dye Sublimation), Printing Technology (Inkjet, Laser), Print Width, Application and Geography - Global Trends & Forecast to 2022", published by Marketsandmarkets, the market is expected to be worth USD 8.42 Billion (in terms of value) which includes both hardware and after- sales services, and is expected to witness a shipment of 398.3 thousand units (in terms of volume) by 2022, at a CAGR of 3.0% and 4.4%, respectively between 2016 and 2022.
Browse 73 market data Tables and 75 Figures spread through 178 Pages and in-depth TOC on "Large Format Printer Market - Global Trends & Forecast to 2022"
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Growing demand for advertising, décor, and textile printing applications is expected to drive the market.
Signage is expected to lead the large format printer market in terms of volume
Signage refers to the use of signs and symbols to communicate messages in an attractive way to a specific group. It is one of the most widely used methods of marketing. Signage has many applications such as in indoor signs, shop branding, indicators, large corporate emblems, promotional signage, and window displays. Signage acts as an influencer at the point of sale; as an attraction point in booth decoration among others. Although there has been a considerable penetration of digital signage, the overall Large Format Printer Market is still expected to show a steady growth in the retail graphics industry, particularly in the indoor PoS signage. A major factor is growth of organized retail in emerging economies such as India, which is leading to construction of large-scale retail outlets such as hypermarkets and supermarkets where PoS and PoP signs are used extensively.
The large format printer market for UV-Cured ink is expected to exhibit high growth during the forecast period
UV-cured ink consists of acrylic monomers with a photo initiator. As soon as the printing is done, the ink is exposed to ultraviolet (UV) light, which causes a chemical reaction, thus, making the ink solid. Unlike solvent and aqueous inks, the UV-cured ink does not evaporate. It gets set and dries up quickly on the exposure of UV light and can be sent to the next step of the production process. This makes them durable and suitable for printing on a wide range of flexible materials along with direct to rigid substrates. Due to these advantages of UV-cured ink, the large format printers for UV-cured ink have been adopted at the fastest rate by the end users.
The market in the APAC region is expected to grow at the highest rate during the forecast period
The market in APAC (Asia-Pacific), which includes emerging economies of India and China as well as developed countries such as Japan and South Korea, is expected to grow at the highest CAGR between 2016 and 2022 because of the rapid growth of retail graphics, signage and advertising in the region due to fast-growing economies in countries such as India.
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The key players in the market are HP Inc. (U.S.), Canon (Japan), Epson (Japan), Roland Dg Corp. (Japan), Xerox Corp. (U.S.), Mimaki (Japan), Ricohl (Japan), Konica Minolta. (Japan), and Agfa Gevaert (Belgium), EFI Inc. (U.S.), and Durst (Italy).
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