Press release
How is increasing Requirements for Customized Solutions Driving the Growth of Production Printer Market?
The major brands are under pressure to provide better experiences to the customers, which is why they are focusing increasingly on enhancing customer engagement, primarily through innovative packaging.
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Digital printing technology is aiding these companies in offering brand protection, value-added serialization, relevant personalization, and test-market prototyping.
Furthermore, by making use of digital printing on flexible substrates and plastics, the businesses are able to provide high image quality, minimal inventory, and high-impact branding to their customers.
It is due to these factors that the demand for production printers is increasing. Production printers are used for high-volume printing as they can produce about 60 pages per minute, and these printers can work efficiently for both colored and monochrome printing.
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According to a research conducted by P&S Intelligence, the global production printer market attained a value of $4.9 billion in 2017 and is predicted to advance at a 5.1% CAGR during the forecast period (2018-2023).
Among the two types of production printers, namely color and monochrome, the larger demand during 2013-2017 was created for color printers and the situation is going to be the same in the near future as well.
The various technologies on which production printers are based include offset, laser, gravure, inkjet, flexography, screen, and toner. Some other technologies are dye-sublimation, pad, and relief print. Out of these, the largest demand was created for the inkjet production printers during 2013-2017.
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A key factor positively affecting the growth of the production printer market is the expanding e-commerce market. The global retail e-commerce market is predicted to generate $4.2 trillion by 2021.
These factors are, in turn, driving the demand for production printing. The print companies are focusing on targeting the e-commerce platforms in order to increase their consumer base.
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About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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