Digital Printing Market Soars with Personalized Prints; Expected to Earn at 6.70% CAGR by 2031

WESTFORD, MASSACHUSETTS, UNITED STATES, August 26, 2024 /EINPresswire.com/ -- Digital Printing Market size was valued at USD 29.25 Billion in 2022 and is poised to grow from USD 31.2 Billion in 2023 to USD 52.43 Billion by 2031, at a CAGR of 6.70% during the forecast period (2024-2031).

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The interest in digital printing, especially UV-curable ink-based printing, would likely increase due to the need for affordable, high-quality graphics that also respect the environment. When compared to alternative printing methods, digital printing for up to 2000 pieces is by far the most cost-effective, claims the Print Authority. In addition, the digital printing market will grow due to the introduction of 3D printing, sheet-fed digital printing, printed electronics, and print security.

Fast growth in the global digital printing market is supported by the rising demand for customized printing, environmentally friendly printing options, and technological growth. The main trends include the emergence of digital textile printing, increasing application of electrophotography and inkjet technologies as well as shift towards short runs and on-demand printing to save on costs and reduce wastage.

Top Player’s Company Profiles in Digital Printing Market

• Hewlett-Packard Development Company, l.P. (US)
• Canon, Inc. (Japan)
• Ricoh Company Ltd. (Japan)
• Mimaki Engineering Co., Ltd. (Japan)
• Roland DG Corporation (Japan)
• Xerox Corporation (US)
• Seiko Epson Corporation (Japan)
• Durst Phototechnik AG (Italy)
• Electronics for Imaging, Inc. (US)
• Inca Digital Printers Limited (UK)
• Printronix (US)
• Brother Industries, Ltd. (Japan)

Expanding Horizons in Growing Digital Textile Printing

The following are the key Digital Printing Trends that will shape the growth of the market in the next 5 years

• July 2024 saw the launch of an adventurous product: HP Inc.'s Indigo 100K digital press. It is meant for printing at a speed and quality that was never seen before on this planet. Through this breakthrough, it can speed up the growth of digital printing business in the next five years by availing printers for a more sustainable and effective solution thus don't they change the industry.

• In June 2024, Canon Inc. declared that it had taken over a leading company in producing top-notch digital textile printing materials; thus, enhancing the range of products available to the firm and solidifying its standing as an important player in the fast-growing area of digital textiles. This strategy is supposed to stimulate technological creativity and market growth according to projections made with respect to advancements in customized as well as ecofriendly printing systems.

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Segments covered in Digital Printing Market are as follows:

• Inktype
o Aqueous Ink, Solvent Ink, UV-Cured Ink, Latex Ink, and Dye Sublimation Ink

• Head Type
o Inkjet (Thermal, Piezo Crystal Based, Electrostatic, and Microelectromechanical), and Laser

• Substrate Type
o Plastic Film & Foil, Release Liner, Glass, Textiles, Ceramics, Paper, and Others

Strategic Acquisition Herald New Era of Innovation

• The Indigo 100K digital press, a revolutionary development in high-volume printing, was unveiled by HP Inc. in July 2024. Over the period spanning 10 years from now on, this invention could reasonably be assumed to have an immense impact on market dynamics and rapid transformation of technology through replacing customary parameters defining speed, quality and sustainability in certain sectors.

• Canon Inc. has expanded its presence in the rapidly advancing sector by acquiring a leading supplier of digital textile printing in June 2024. The long-term effect of this strategic move on innovation and business development for environmentally friendly and personalized print solutions will be quite important for the future of global digital printing market over the next decade.

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Cutting-Edge Technologies Shaping Future of Digital Printing

In May 2024, Epson launched the SureColor F10070H printer for high-performance dye-sublimation directed at the growing digital fabric market. At the same time, Xerox announced its strategic alliance with one of the top 3D printing firms to include advanced digital printing technologies into their product lines. In April 2024, Ricoh unveiled an innovative eco-friendly printing technology meant for packaging applications. These innovations are expected to push the global digital printing market forward in addition to HP’s Indigo 100K and Canon’s purchase in digital textiles. In the coming years, this progress will trend towards top-notch growth, sustainability advancements as well as personalized options that will redefine industry benchmarks.

Revolutionizing Digital Print Landscape through Customization and Eco-Friendly Printing Solutions

The expansion and transformation of the global digital printing market will be fueled by innovative technology and judicious purchases. Various products including Ricoh’s eco-friendly packaging, Xerox’s partnership for 3D printing, Epson’s SureColor F10070H, Canon entering the digital textile business, and HP’s Indigo 100K are heralding a new era for this industry. These developments aim to satisfy the growing need for specialized and ecologically friendly printing solutions while improving speed, quality, and sustainability. Over the next ten years, the market is expected to achieve considerable commercial growth and redefine industry standards as new technologies and tactics gain traction.

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