Digital Graphic Printing Market Size

Digital Graphic Printing Market Analysis

The digital graphic printing market is expected to grow at a CAGR of 5.2% over the forecast period (2021 - 2026). Presently the digital graphic printing market consolidation is likely to continue as the global print industry ecosystem continues to face digital disruption. The significant erosion of traditional revenue streams, which has driven by hardware commercialization and the transition to digitization, are forcing industry vendors to consider new growth avenues for remaining relevant to businesses.

• The personalization via printed products, like flyers and templates, is one of the emerging trends that will drive the market in the coming years. These printed products are a great form of material for individuals and enterprise businesses. The brand-new product design technologies will help the digital graphic print industry to offer customers a personalized experience. The printing vendors that employ devices and offer such solutions will surely have a competitive edge over the competition and account for a larger share of the market. The trend of personalized prints can be offered to a vast consumer base via e-commerce sites. By 2020, it will consider as a huge differentiating factor in increasing sales and business profits.
• As the requirement of face masks is rising due to the COVID-19 crisis, the customers of the Asia-pacific countries are moving toward customized printed face masks. Digital graphic printing enables the ability to print any design in less time. Kornit has invested in printing masks with "Kornit NeoPigment" inks, which is also sustainably-made and a significant safe choice for the consumer.
• The increasing usage of durable substrates for digital graphic printing in end-use applications, such as banknote printing, which comes under security printing, is also driving the growth of the market. For example, in 2019, the Central Bank of Armenia has introduced a new range of banknotes, which are printed on a durable substrate. These substrates offer a suitable design and security features, which needs to be updated by the bank authority. Arman Hovhannisyan, a Currency Issue Specialist at the Bank, told Currency News what these changes are connected with and how the new banknotes surpass the old ones.
• As a result of the COVID-19 situation, many digital graphic printing players have suffered massive losses, as the trade fairs have been canceled, and many shops are not open due to lockdown situations. Kornit Digital, which is a significant provider of digital printing solutions for commercial printing applications, has provided an update regards to the impact of the COVID-19 on its business operations. The Company is withdrawing Q1 2020 guidance and presently expects Q1 2020 revenues will be 35-45% below the USD 47 million low-end of its previous revenue count.
• The significantly high cost of investment in digital graphic printing has been considered as a restraining factor for the growth of the overall market. These costs included the purchase price and installation fees, maintenance and support costs, and the ink and other consumables for the printers.