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Large Format Printers, Market Insights, Global Growth
Global Large Format Printers, Market Growth, Insights
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According to The Business Research Company's, The large format printers market size has grown steadily in recent years. It will grow from $9.41 billion in 2023 to $9.82 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to demand for high-quality printing, expansion of advertising and signage industry, popularity in graphic arts and photography, wide range of substrate compatibility, textile and fabric printing growth..
The large format printers market size is expected to see steady growth in the next few years. It will grow to $11.79 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to rise in promotional merchandise , energy-efficient printing solutions, increased use in educational materials printing, continuous feed printing systems, global economic recovery.. Major trends in the forecast period include digital printing dominance, direct-to-object printing, 3d printing integration, print automation and workflow solutions, increased print speeds and resolutions, green printing practices, .
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Market Drivers and Trends:
Rising demand for textiles, advertising, and packaging industries is significantly contributing to the growth of the large format printer market. Large format printers help companies to increase their brands and help in promoting or launching their new products, which in turn helps in reaching many customers. There has been a rapid growth in the use of large format printers in the textile industry, as printing on different forms of textiles is now a completely automated belt-fed transport system. According to the India Brand Equity Foundation (IBEF), by 2029, the Indian textile market is expected to be worth more than $209 billion. India's home textile exports grew at a healthy rate of 9% in the year 2021. Therefore, the rising demand for textiles, advertising, and packaging industries is driving the growth of large-format printers in the coming years.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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Major Key Players of the Market:
Agfa-Gevaert N. V., Canon Inc., Durst Phototechnik AG, Seiko Epson Corporation, Xerox Holdings Corporation, Hewlett-Packard Development Company L. P., Konica Minolta Inc., Mimaki Engineering Co. Ltd., Mutoh Holdings Co. Ltd., The Ricoh Company Ltd., Roland DG Corporation, Fujifilm Holdings Corporation, Kyocera Corporation, Lexmark International Inc., Shenyang Sky Air-Ship Digital Printing Equipment Co. Ltd., SwissQprint AG, Oki Electric Industry Co. Ltd., Toshiba Tec Corporation, Brother Industries Ltd., Panasonic Corporation, Sharp Corporation, Samsung Electronics Co. Ltd., LG Electronics Inc., KIP Inc., Dilli Co. Ltd., ColorTrac Group, Neolt S. P. A, CET Color Inc., EFI Inc., Summa NV
Large Format Printers Market 2024 Key Insights:
• The large format printers market size is expected to see steady growth in the next few years. It will grow to $11.79 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%.
• Rising Demand In Textiles, Advertising, And Packaging Industries Boosts Large Format Printer Market
• Innovative Technology Launches Drive The Large Format Printer Market
• North America will be the largest region in the large format printer market in 2023
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