The large format printer market to grow from USD 8.0 billion in 2016 to USD 10.6 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 4.0% during the forecast period. The major factors that are expected to be driving the market are increasing demand for large format printing in the textile, advertising, and packaging industries; the rising adoption of UV-curable inks in outdoor advertising, CAD, and technical printing applications; and the growing importance of digital document production in commercial printing applications. The objective of the report is to define, describe, and forecast the large format printer market size based on offering (printers, RIP Software, and After-sales service), print material, printing technology, print width, ink type, application, and geography.
Market for the large format printers with a print width ranging from 24” to 36” is expected to hold the largest share during the forecast period
The large format printer market with a print width ranging from 24” to 36” is expected to lead the market between 2017 and 2023. These printers has great versatility and can be used for various applications from tile murals and signage to CAD applications, among others. Top tier manufacturers such as HP, Roland, Epson, and Canon produce and provides a significant number these printers in the market.
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Large format printers having print width ranging 17”–24” can print pages having a width of 17”, 20”, 22”, or 24” and are in direct competition with small size printers. Printers with print width of 17” are recommended for photographers as the ink cartridges used in them have a capacity of approximately 80 milliliters per cartridge. This significantly reduces the cost per print compared with printers with print width of 8.5” and 13”, in case of which cartridges have a mere volume of 15 milliliters.
Large format inkjet printer market expected to hold the largest share from 2017 to 2023
One of the major reasons for the higher market for large format inkjet printer or ink-based printer is the increasing use of large format inkjet printers for technical and CAD printing. Traditionally, the architecture, engineering, and construction (AEC) industry preferred large format laser printers as these printers used lesser colors and ensured higher printing speed than inkjet printers. However, with time, large format inkjet printer manufacturers have started providing faster inkjet printers with reduced running costs for large format printing, which has led to the widespread adoption of inkjet printers in this industry.
Signage application is expected to hold the largest market share from 2017 to 2023
Wide varieties and different uses of indoor and outdoor signage, such as warning signs on highways and roads, large corporate emblems, promotional signage, and window displays, contribute to the growth of the large format printer market for signage applications. Signage prints are carried out using wide format printers; the demand for signage applications is expected to grow during the forecast period, thereby driving the demand for large format printers.
Hewlett-Packard (HP) (US), Canon (Japan), Epson (Japan), Mimaki Engineering (Japan), Roland (Japan), Ricoh (Japan), Durst Phototechnik (Italy), Xerox (US), Konica Minolta (Japan), Agfa-Gevaert (Belgium), Electronics for Imaging (EFI) (US), Kyocera (Japan), Lexmark (US), Mutoh (Japan), ARC Document Solutions (US), Dilli Illustrate Inc. (South Korea), swissQprint (Switzerland), Shenyang Sky Air-Ship Digital Printing Equipment (China), Seiko Instruments (Japan), and OKI Electric Industry (Japan).
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