NEW YORK, Nov. 17, 2016 /PRNewswire/ -- "Large format printer market expected to grow at a CAGR of 3.0% between 2016 and 2022"
The global large format printer market is expected to reach USD 8.42 billion which includes both hardware and after-sales services, and the market is expected to witness a shipment of 398.3 thousand units by 2022, at a CAGR of 3.0% and 4.4%, respectively, between 2016 and 2022. The growing demand for wide page width printing in textile, advertising is the major driver for the growth of the market.
"Signage application to remain the leading segment in terms of value of the large format printer market during the forecast period"
Signage applications such as indoor signs, shop branding, indicators, and large corporate emblems are the major adopters of large format printing as large format printing provides very high visibility. Although digital signage is expected to penetrate into the print market, a large portion of the market is still likely to rely on print-based wide format printing; hence, the signage is expected to remain the leading application in terms of value during the forecast period.
"Asia-Pacific market is expected to grow at the highest rate during the forecast period"
The market in Asia-Pacific is expected to grow at the highest rate in the overall market by 2022. The combination of multiple factors make Asia-Pacific the most dynamic region in the large format printer market. Asia-Pacific has some of the fastest-growing emerging economies, namely, India and China; it also has technologically and economically advanced economies such as Japan and South Korea. Furthermore, there are many countries within Asia-Pacific which are witnessing rapid urbanization and high growth in organized retail and advertising; hence, the overall growth and demand for large format printing is higher in APAC compared to Europe and North America. One of the major factors in favor of the Asia-Pacific region is that many developing economies are yet to take to digital signage and other forms of digital outdoor advertising in place of print-based signage and advertising.
In the process of determining and verifying the market size for several segments and subsegments of the large format printer market gathered through the secondary research, extensive primary interviews have been conducted with key people. The breakup of the profiles of primary participants is shown below:
- By Company Type: Tier 1 – 20%, Tier 2 – 45%, and Tier 3 – 35%
- By Designation: C-Level Executives – 35%, Directors – 25%, and Others – 40%
- By Region: Americas – 45%, Europe – 20%, APAC – 30%, and RoW – 5%
The geographic segmentation in the report covers the four major regions of the world, namely, Americas, Europe, APAC, and RoW. The report also profiles major players in the large format printer market. Some of the major players in this market are HP Inc. (U.S.), Canon Inc. (Japan), Epson (Japan), Ricoh (Japan), Mimaki (Japan), Roland DG Corp. (Japan), Xerox (U.S.), Konica Minolta (Japan), Agfa-Gevaert (Belgium), and EFI Inc. (U.S.)
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