An in-depth study and segmentation of the global large format printer market by technology (aqueous ink, solvent ink, UV-cured ink, and latex ink). The report also outlines the market shares for key regions such as the Americas, APAC, and EMEA. The key vendors analyzed in this report are Canon, Epson, HP, Mimaki, and Roland.
Technavio’s market research analysts estimate the global large format printer market to grow at a CAGR of around 2% between 2016 and 2020. The main reason boosting demand for large format printers is the growing adoption of UV curable ink. APAC dominates the global market for large format printers, occupying 37% of the overall market share. Much if this region’s growth can be attributed to the rapid technological advances in South Korea, Taiwan, Japan, and China, resulting in better printers with enhanced quality.
The new market research report from Technavio provides a breakdown and analysis of the large format printers segments by technology.
“The declining average selling price of large format printers is stimulating the demand for large format printers. The increased penetration of printers in segments like technical and graphical has led to the decline in the average selling price of large format printers. The decline in ASP of printers will continue to fall during the forecast period, leading to an increase in demand for printers globally. Lower ASP gives scope for new entrants in the market as well,” says Sunil Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research.
The aqueous ink segment leads the large format printer market with more than 43% of the total market share. Buyers are shifting toward aqueous ink large format printers from solvent ink large format printers to reduce the environmental hazards caused by solvents. Hence, the adoption of aqueous ink is expected to increase tremendously during the forecast period.
The leading vendors in the global large format printer market include Canon, Epson, HP, Mimaki, and Roland. This market is led by five major vendors, who together account for nearly 89% of the market in terms of unit shipments. Companies are investing heavily in R&D to come up with customized and application-specific printers, to cater to the different levels of demand from end-user segments. The vendors in this market are highly focused on the development of large format printers with a balance in quality and cost that could enable them to penetrate the emerging markets.
A more detailed analysis is available in the Technavio report, Global Large Format Printer Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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