Wide Format Printers Market
Global Industry Analysis and Forecast 2023-2030
Market Value (2022)
USD 9.24 Billion
Forecasted Value (2030)
USD 15.02 Billion
CAGR (2023 - 2030)
Fastest Growing Region (2023 - 2030)
Inkjet Printers, Laser Printers
By Ink Type
Aqueous, Solvent, UV-Curable, Latex, Dye-Sublimation
The global Wide Format Printers Market was valued at USD 9.24 billion in 2022 and is projected to reach USD 15.02 billion by 2030, growing at a CAGR of 6.39% from 2023 to 2030.
The global expansion in the market continues to provide opportunities and deliver vibrant, larger-than-life images for a range of applications. Advances in printer, ink, and media technology have enabled cost-effective quick-run graphic production appropriate for both indoor and outdoor uses, which has fueled the expansion of large-format digital printing. As digital platforms evolve and ink technologies improve, graphic media must evolve in tandem to preserve compatibility while offering the quality and performance that end users require. Advances in print head technology have led to the development of high-speed inkjet printers that can produce large quantities of large-scale prints quickly and efficiently.
However, maintenance issues are a major problem with wide format printers which require regular maintenance, therefore it is important to ensure optimal performance and extend the life of the printer. Wide-format printers can be expensive to purchase and operate, making it difficult for small firms to justify investing in this technology.
Analyst’s Review on Wide Format Printers Market
Recent developments in wide-format printing provide substantial opportunities for printers to expand their service offerings and generate new revenue streams. Printers can turn out projects faster and impart more flexible outputs because of advancements in hardware and ink technology. This application flexibility, as well as the ability to customize and personalize printing while being efficient and cost-effective, provides clients with a superior experience that traditional technologies cannot match. Wide format printers have been mainly developed to cater to the signage, advertising, marketing, and communications industries.
Wide-format printers were created to serve the signage, communications, marketing, and advertising industries. However, as fast development continues and client-driven demands grow, these printers are making inroads into a variety of new industries. Currently, digital print technology provides businesses with access to low-cost, bespoke printing with a quick turnaround. The wide format printers offer a versatile and efficient solution for companies that intend to print large graphics. Capable of handling media over 24 inches wide, these printers are used in a wide range of applications from producing marketing materials to technical drawings and maps. This technology is especially valuable for companies in the architectural and engineering industries, where accurate and detailed plans and drawings are essential and new developments also provide eco-friendly solutions which propel the wide format printers market growth.
Wide format printers are printers used in many industries to create large-scale graphics such as posters, signs, banners, and other displays. Over the years, widescreen printing technology has evolved significantly, bringing with it new features and a wide range of innovations that enable high-quality, durable, and environmentally friendly prints to be printed at relatively lower costs. Despite this, widescreen printers still face significant challenges that can affect their efficiency, effectiveness, and overall output quality.
One of the most common problems with printers is meager image quality. In many cases, inadequate image quality is caused by several factors, such as poor graphics, incorrect color calibration, and hardware malfunctions. Wide-format printers also have issues with ink and substrate compatibility. This problem can cause paint bleeding, smearing, and peeling of the substrate which restricts the large format printers market growth.
The wide format printer market offers significant opportunities for growth, innovation, and differentiation across multiple industries. The growing demand for large-format graphics and signage, and many companies are investing in these technologies to improve their presence, visibility, and branding. This includes indoor and outdoor signage for retail, hospitality, and events, as well as billboards and large borders for advertising campaigns and public spaces.
The growing popularity of trade fairs and exhibitions provides lucrative opportunities for widescreen printers, which are ideal for the production of custom graphics and displays. The cloud-based software solutions that enable remote management and collaboration in different locations are becoming more prominent. In addition, the development of new ink technologies and types of materials, such as UV-curable inks and recycled materials, also expands the possibilities of widescreen printing.
The global wide format printers market is segmented based on offering, application, and geography.
Based on the offering, the market is classified into inkjet printers and laser printers. The inkjet segment is growing at a rapid pace with a CAGR of 6.47% over the forecast period. The inkjet printers segment continues to grow as a result of the rising usage of inkjet large format printers for the architectural, engineering, and construction (AEC) industries, as these printers require fewer colors and ensure faster printing speed. In these industries, inkjet printers are extremely prevalent.
Based on ink type, the market is segmented into aqueous, solvent, UV-curable, latex, and dye-sublimation. The UV curable ink segment is the dominating segment as it is durable and can be used for both indoor and outdoor graphics. UV-curable ink is also environmentally friendly and has low VOC emissions.
Based on application, the market is divided into commercial and residential. The commercial segment is growing at a faster rate with a CAGR of 6.47% over the forecast period. The commercial segment is the dominating segment as it has higher print capacity, print quality, and better customization options than consumer models. These printers are designed to handle a wide variety of substrates, from vinyl and fabric to rigid materials such as wood and metal.
Based on regional analysis, the global wide format printers market is classified into North America, Europe, Asia Pacific, MEA, and Latin America.
Asia Pacific was the dominating region with a market share of 37% in 2022. The regional growth is accelerated by the increased use of environmentally friendly and sustainable printing solutions which is becoming more common in the region. In addition, there is a growing trend in the Asia-Pacific printing industry to use smart or connected devices to streamline workflow and improve efficiency. The growing use of wide format printers especially across Australia, India, and South Korea is fueled by the use of large format printers in graphic printing, apparel and textile printing, and computer-aided design (CAD). Moreover, the wide format printers market growth in Asia Pacific is likely to grow significantly in the coming years as new technology and innovation drive demand in traditional and non-traditional markets.
The wide format printers market in North America is growing rapidly with a market share of 29% in 2022. The regional growth is driven by the increased focus on environmentally friendly and sustainable printing solutions. The growing use of UV-curable and latex inks across the region has expanded as it provides durable, high-quality prints that are environmentally friendly and produce low VOC emissions. In addition, there is a growing demand for digital printing solutions that offer more flexibility and customization compared to traditional offset printing. The trend is also to use smart or connected devices to improve workflow and make the printing industry more efficient. Expansion into non-traditional markets such as home decor and packaging is another key opportunity, as custom and individualized designs are in high demand which propels the market growth.
The wide format printers market study report will provide valuable insight with an emphasis on the fragmented nature of the global market. Prominent players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their respective market shares across different regions. Expansion & investments involve a range of strategic initiatives including investments in R&D activities, new manufacturing facilities, and supply chain optimization. The major players in the market are
- Canon Inc.
- Konica Minolta Inc
- Lexmark International, Inc.
- Mimaki Engineering Co., Ltd.
- Seiko Instruments Inc.
- Xerox Corporation
- HP Development Company, L.P.
- MODIX MODULAR TECHNOLOGIES LTD
- April 2023 (Product Launch): Modix presented a prototype of its new Modix CORE-60 printer at RAPID TCT 2023 in Chicago, Illinois. The printer is the first in a new line of products that are designed for the needs of low-budget customers such as artists and young startups.
- May 2022 (Partnership): Fujifilm entered into a partnership with Blu Sign to support Acuity Prime's commercial distribution duties for the wide-format flatbed press in Italy. The partnership aims to increase the quality and speed of the production process, eliminating the need for an inefficient screen printing process.
The global Wide Format Printers Market is segmented as:
- Inkjet Printers
- Laser Printers
By Ink Type
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- North Africa
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America