The printing machine market has witnessed significant growth over the past few years owing to the rising demand for digital and commercial printing across various end-user industries. Printing machines offer benefits such as high print quality, flexibility, and versatility to print on various sizes and materials. They are highly efficient and enable mass production and digitalization of content and documents.
The Global Printing Machine Market is estimated to be valued at US$60 billion in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2024 To 2031.
Key Takeaways
Key players: Key players operating in the printing machine market are Canon Inc., HP Inc., Konica Minolta, Seiko Epson Corporation, Roland DG Corporation.
Key opportunities: Growing digitization trends across industries and the rise of online shopping are expected to generate demand for print on demand services. Furthermore, the need for packaging printing for e-commerce platforms will drive market growth.
Technological advancements: Advancements such as digital printing, 3D printing, and multi-functional printers are gaining popularity. Digital printing offers high-quality, vibrant color output, variable data printing capability, and on-demand printing with minimal wastage.
Market drivers
The major driver for the Printing Machine Market Size is the growing demand from the packaging industry. Packaging printing accounts for over 50% of the total commercial printing industry. The booming e-commerce industry is fueling demand for innovative, high-quality, and sustainable packaging solutions for product and brand promotion. Furthermore, the rising proliferation of digitization across various sectors has increased the demand for digital content and documents, driving the need for high-quality and versatile printing machines. Changes in consumer preferences toward online shopping and rising marketing and advertising spending by companies are further strengthening market growth.
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