As per the report, North America emerged dominant in 2017 in the Global Digital Production Printer market. North America was valued at US$ 784.3 Mn in 2017. The region is expected to continue leading the global market through the forecast period. The rising adoption of digital technology and printing is expected to contribute to the growth witnessed in the region. Besides this, the Digital Production Printer market in the Asia Pacific was worth US$ 588.7 Mn in 2017.
The literacy rate and per capita income of people in the Asia Pacific are expected to increase in the coming year, subsequently enabling growth in the region’s Digital Production Printer market. The report predicts the Asia Pacific market to report a higher CAGR in the coming years. The increasing literacy rate is anticipated to generate demand for the book, paper, magazines, and others, further bolstering demand in the Global Digital Production Printer market.
The Global Digital Production Printer Market to gain from increasing adoption of digital printing. According to the report, in 2017 the Global Digital Production Printer Market has valued at US$ 2352 Mn. The global market is anticipated to progress at a CAGR of 12.6% and reach US$ 5939.1 Mn by the end of 2025
Increasing Shift towards Online Platforms to Increase Demand for Digital Production Printer
In terms of application, the advertising segment emerged dominant in the Global Digital Production Printer Market in 2018. Besides this, catalogs, graphic acts, and transactional are a few segments anticipated to grow at a CAGR of more than 10% during the forecast period 2018-2025. The growth witnessed is attributable to the rapid adoption of personalization among printing. This is likely to enable growth in the Global Digital Production Printer market.
On the flip side, high costs associated with the digital printer and complex mechanism of the digital printer is major factors that may hamper the growth in the Global Digital Production Printer market.
Increasing the adoption of online platforms and increasing global literacy rate is a few factors anticipated to drive the Global Digital Production Printer Market during the forecast period. Moreover, a paradigm shift towards digital printing form offset technology is likely to increase the demand in the Global Digital Production Printer market.
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Technological Developments Undertaken by Leading Brands to Enable Growth
Technological developments in digital printers are anticipated to enable growth in the Global Digital Production Printer market. Canon, Ricoh, Xerox, Hewlett Packard, and Konica Minolta are a few major players in the global market and have recently announced products with advent features. Xerox is offering Trivor Presses and Versant, Canon offers ImageStream, VarioPrint and ColorStream, and others. Among key players, Canon offers a variety and extensive range of digital printers. This is anticipated to boost the global market. Some of the other companies operating in the Global Digital Production Printer Market are Eastman Kodak Company, Miyakoshi Printing Machinery, Screen Holdings Co. Ltd., BlueCrest Inc., Fuji Xerox Co. Ltd., and Xeikon NV.
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