Digital Printing Market | Contrive Datum Insights

The Global digital printing market size was estimated at USD 27.4 billion in 2022 and is projected to surpass around USD 49.7 billion by 2030, anticipated to grow at a registered CAGR of 6.84% between 2022 and 2030.
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The global digital printing market refers to the market for digital printing technology, which includes printers, software, inks, and substrates. Digital printing technology allows for printing images and text directly from digital files, as opposed to traditional printing methods that use plates or screens.

The digital printing market has experienced significant growth in recent years, driven by increasing demand for high-quality, short-run printing and personalization. The market is segmented by technology, ink type, substrate type, application, and geography.

The major players in the global digital printing market include HP Inc., Xerox Corporation, Canon Inc., Konica Minolta Inc., Ricoh Company Ltd., and EFI Inc. Other notable players include Agfa-Gevaert Group, Kodak, Durst Phototechnik AG, and Fujifilm.

The global digital printing market is expected to continue growing in the coming years, driven by increasing demand for on-demand printing, mass customization, and personalization. Other factors driving growth include technological advancements in digital printing, such as improved color accuracy and faster printing speeds, as well as the rise of e-commerce and online marketing. However, the market also faces challenges such as increasing competition and the need to adapt to changing consumer preferences and trends.

Market Dynamics

Driving Factors

There are several driving factors contributing to the growth of the global digital printing market:

Personalization: In addition to mass customization, consumers are also looking for personalized products that reflect their individual style or personality. Digital printing technology enables the printing of unique designs and images, making it a popular choice for personalized products.

Technological advancements: Digital printing technology has undergone significant advancements in recent years, including improvements in color accuracy, print resolution, and printing speed. These advancements have made digital printing more versatile and efficient, driving demand for the technology.

Environmental benefits: Digital printing technology has several environmental benefits compared to traditional printing methods, including reduced waste, lower energy consumption, and lower emissions. This has increased the demand for digital printing among environmentally conscious consumers and businesses.

Restraining Factors

While there are several factors driving the growth of the global digital printing market, there are also some restraining factors that could impact its growth:

Limited range of substrates: Digital printing technology may not be suitable for all types of substrates, such as certain types of plastics or metals. This could limit the potential applications of the technology.

Quality concerns: While digital printing technology has undergone significant advancements in recent years, there may still be concerns around the quality of printed products, particularly in high-volume production runs.

Intellectual property issues: Digital printing technology has made it easier to reproduce copyrighted or trademarked designs or images, which could lead to intellectual property issues and legal challenges.

Challenges Factors

The global digital printing market faces several challenges that could impact its growth and adoption:

Cost: As mentioned earlier, the initial cost of investment in digital printing technology can be high, particularly for small businesses. This could limit the adoption of the technology in certain markets.

Print quality consistency: Digital printing technology can be sensitive to environmental conditions, such as humidity and temperature, which could impact the consistency of print quality.

Intellectual property concerns: Digital printing technology has made it easier to reproduce copyrighted or trademarked designs or images, which could lead to intellectual property issues and legal challenges.

Sustainability concerns: While digital printing technology has several environmental benefits compared to traditional printing methods, there may still be concerns around the sustainability of inks, substrates, and other materials used in the process.

Competition: The digital printing market is highly competitive, with several major players vying for market share. This could lead to price wars and increased pressure to differentiate products and services.

Opportunity Factors

The global digital printing market presents several opportunities for businesses in the industry:

Emerging markets: Emerging markets such as Asia Pacific, Latin America, and Africa present significant growth opportunities for the digital printing market. These markets are experiencing rapid economic growth and increasing demand for high-quality printing services.

Technological advancements: The digital printing market is subject to rapid technological advancements, presenting an opportunity for businesses to innovate and differentiate themselves from competitors. New technologies such as 3D printing and nanotechnology are opening up new avenues for digital printing applications.

Segmentation Analysis

Ink Type Outlook

Solvent-based inks are commonly used in the large format printing market, particularly for outdoor applications. These inks contain organic solvents that help to dissolve the ink pigments and bind them to the substrate.

Water-based inks are an eco-friendly alternative to solvent-based inks, as they do not contain harmful chemicals. These inks are commonly used in the textile printing market and produce high-quality prints with vibrant colors.

UV-curable inks are cured using UV light, which helps to harden the ink and bond it to the substrate. These inks are commonly used in the flatbed printing market and produce high-quality prints on a range of substrates.

Dye-sublimation inks are commonly used in the textile printing market, particularly for printing on synthetic fabrics. These inks are designed to transfer the ink pigments into the fabric using heat, producing vibrant and durable prints.

Pigment inks are commonly used in the fine art printing market, as they produce high-quality prints with excellent color accuracy and fade resistance. These inks contain microscopic pigment particles that are bonded to the substrate using a binder.

Aqueous inks are water-based inks that are commonly used in the desktop printing market. These inks are designed for use with inkjet printers and produce high-quality prints with vibrant colors and excellent color accuracy.

Overall, each ink segment in the digital printing market has its unique advantages and applications, and businesses in the industry need to offer a range of ink options to cater to the needs of their customers. By providing high-quality and eco-friendly ink options, businesses can differentiate themselves from competitors and position themselves for success in the rapidly growing digital printing market.

Application Outlook

Publication printing involves the printing of books, magazines, and newspapers. Digital printing technology has enabled publishers to produce short runs of publications, print on demand, and offer personalized and customized publications.

Decorative printing involves the printing of decorative materials such as wallpaper, tiles, and laminates. Digital printing technology has enabled decorative printers to offer highly customized and intricate designs on a variety of surfaces.

Regional Analysis

The North American market is a significant region for the digital printing market, owing to the presence of major digital printing vendors and the growing demand for personalized and short-run printing. The United States and Canada are major contributors to the market growth in this region.
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The European market is also a significant region for the digital printing market, owing to the increasing demand for short-run printing and the presence of leading digital printing vendors. Countries such as Germany, the UK, France, and Italy are major contributors to the market growth in this region.

The Asia-Pacific market is expected to grow at a high rate, owing to the increasing adoption of digital printing technology and the presence of emerging economies such as China and India. The growing demand for customized and short-run printing is also driving the growth of the digital printing market in this region.

The Middle East & Africa region is expected to witness moderate growth in the digital printing market, owing to the increasing demand for customized printing solutions in the region.

The Latin American market is also expected to grow at a moderate rate, owing to the increasing adoption of digital printing technology and the growing demand for short-run printing in the region.

Scope Of Report:

The Global Digital Printing Market has been segmented into:

By Type

• Inkjet
• Laser

By Ink Type

• Aqueous
• Solvent
• UV-curable
• Dye Sublimation
• Latex
• Others

By application

• Plastic Films or Foils
• Fabric
• Glass
• Paper/Books
• Ceramic

By Region

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
  • Germany
  • France
  • Italy
  • Spain
  • UK
  • Nordic Countries
    • Denmark
    • Finland
    • Iceland
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Market Players 

The global digital printing market is highly competitive and fragmented, with numerous players vying for market share. Some of the key companies in the market are:

• Canon, Inc
• DIC Corporation
• Epson Co., Ltd
• Hewlett-Packard
• Konica Minolta
• Ricoh Co., Ltd
• Sakata INX Co., Ltd
• Toshiba Co. Ltd
• Toyo Ink SC Holdings Co.
• Xerox Corporation

HP Inc.: HP Inc. is a leading player in the digital printing market, offering a wide range of printing solutions for various applications, including commercial, industrial, and packaging printing. Canon Inc. is a prominent player in the digital printing market, offering a range of printing solutions, including large format printing, document printing, and photo printing. Xerox Corporation is a well-known player in the digital printing market, offering a range of printing solutions, including commercial, industrial, and packaging printing.

Ricoh Company Ltd. is a leading player in the digital printing market, offering a range of printing solutions, including office printing, production printing, and industrial printing. Konica Minolta Inc. is a prominent player in the digital printing market, offering a range of printing solutions, including production printing, office printing, and industrial printing.

Strategic Developments

In February 2021, HP Inc. announced that it had acquired the software company, OneFlow Systems, to strengthen its cloud-based print workflow solutions.

In January 2021, Canon Inc. announced its plan to acquire the Dutch printing software company, Gelato, to expand its cloud printing services.

In December 2020, Xerox Corporation announced its acquisition of the digital printing solutions company, CareAR, to enhance its remote IT support services.

In November 2020, Konica Minolta Inc. announced its investment in the Israeli print tech start-up, Massivit 3D Printing Technologies, to expand its 3D printing solutions.

In October 2020, Ricoh Company Ltd. announced its partnership with the printing solutions provider, MarcomCentral, to enhance its web-to-print solutions.

In September 2020, EFI Inc. announced its acquisition of the printing solutions company, BDR Boya Kimya, to expand its inkjet inks portfolio.

In August 2020, Durst Phototechnik AG announced its partnership with the inkjet technology company, Koenig & Bauer, to develop digital printing solutions for the packaging industry.

In July 2020, Mimaki Engineering Co., Ltd. announced its partnership with the software company, OneVision, to enhance its workflow automation solutions.