Tactile Printing Market to Grow at a CAGR of 7.6% to reach US$ 2,257.92 Million from 2020 to 2028

Tactile Printing Market to 2028 - Global Analysis - by Application (Packaging & Labels, Tactile Graphics, and Secure Documentation) and End User (Braille Users, Industrial, and Government & Defense)

The players operating in the tactile printing market are experiencing significant demand for their products. However, for commercial and industrial grade tactile printing machines, cost is considered as a restraining factor for market growth. An industrial-scale UV inkjet printer can add 40% to 300% in capital expenses, while operating costs are high-especially for UV-based ink systems. Tactile printers may cost thousands of dollars per unit, depending on the scale of production. Moreover, they require regular maintenance for optimum performance that also involves the recurring costs for the users. Thus, the cost factor significantly hinders the tactile printing market growth, especially for personal usage.

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Kanematsu Corporation, Canon Inc., Konica Minolta Group, Roland DG, and American Thermoform Corp. are the five key market players operating in the global tactile printing market. Due to fragmented nature of global tactile printing market with presence of various regional and local players worldwide, this listing of five key players is derived by considering and giving weightage to following key parameters: overall revenue, segmental revenue, brand image & industry experience, current tactile printing portfolio and related products, innovative and advanced technology integration, customer base, geographical reach, research and development investments, patents, new product launches, partnerships, mergers & acquisitions and other market related activities.

The tactile printing market is segmented based on application and end-user. Based on application, the tactile printing market can be segmented into packaging & labels, tactile graphics and secure documentation. Based on end-user, the tactile printing market is segmented into Braille users, industrial, and government & defense. The global tactile printing market has been segmented into five major regions-North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America (SAM). APAC led the global tactile printing market with a revenue share of ~34.8% in 2020.The dominance of the region is attributed to the rise in demand for tactile printing in the automotive, chemicals, cosmetics, and health and beauty industries, among others. Increasing awareness about hygiene and transforming lifestyle of consumers, leading to high preference for contamination-free food, in countries such as India, China, and Indonesia have stimulated developments in packaging inks and coating materials in APAC. Moreover, high pace of industrialization and urbanization is fuelling the adoption of tactile printing technology in the region.

The List of Companies - Tactile Printing Market

Altix
Konica Minolta, Inc.
Rink Printing Company
Sturdy Print & Design Ltd
American Thermoform
Canon Inc
Index Braille
Kanematsu USA
ViewPlus Technologies Inc
Roland DG Corporation

The COVID-19 outbreak crisis is adversely affecting the most of the industries across the world. Due the disruptions in supply and demand across the value chain, companies operating in the global tactile printing market are witnessing decline in revenue and business growth. Therefore, the outbreak restrained the overall growth of the market in 2020 to some extent. However, owing to the expected rise in demand from commercial and industrial users globally, the market growth is expected to normalize from third quarter of 2021 and continue to grow at a steady rate from 2021 to 2028.

The overall tactile printing market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the tactile printing market with respect to all the segments. It also provides the overview and forecast for market based on all the segmentation considered with respect to five major regions-North America, Europe, Asia Pacific, Middle East & Africa, and South America. Also, primary interviews were conducted with industry participants to validate data and gain more analytical insights into the topic. The participants of the process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the tactile printing market.

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