Digital Printing Market Size

Digital Printing Market Analysis

The Digital Printing Market size is estimated at USD 33.43 billion in 2024, and is expected to reach USD 45.93 billion by 2029, growing at a CAGR of 6.56% during the forecast period (2024-2029).

Digital printing is one of the fastest-growing segments of the sign industry. Its rise can be seen in the incredible size of what can be produced now. Whatever the message or product, size has become a significant trend in advertising.

• Significant improvements in print manufacturing efficiency, time-efficient production, and enhanced focus on supply chain management, such as better demand forecasting, have reduced the print market's overall waste. Technological advancements favoring digital printing have enabled waste minimization, maintaining high print quality.
• The advanced technology of digital printing includes mild solvents and less-harmful chemicals than the ones used in conventional printing technologies, like solid ink printing and offset printing. Hence, the demand for digital printing solutions is growing in the printed electronics market, increasing the focus on green printing and cost-effective production.
• Commercial printing is witnessing transitional and structural changes as a significant application, as the immediate transition from conventional methods of print to digital is challenging. Since it is still a niche method requiring print of shorter/customized batches, the printing cost is expected to take a toll.
• Various companies have been investing in multiple solutions, expansion activities, partnerships, and collaboration activities, to enhance their market position, to expand their presence across the world. For instance, in April 2022, Canon USA, Inc., a digital imaging solutions company, announced the PRISMAcolor Manager solution. The solution can assist users in evaluating and monitoring print quality using compatible printers. It also shows users how their printed color compares to either one of the accepted commercial industries or a user's internal printing specifications. Being a cloud-based solution, it is easy to deploy and allows users to track and compare results over time.
• The latest advancements, such as AI, machine learning, IoT, data analytics, etc., have personalized offerings to a great extent. The convergence in digital printing enables superiority in print personalization for large-volume orders. However, the cost factor remains a big hurdle. Additionally, high-priced investment restrains the overall market growth of the digital printing industry. These costs included the purchase price, support costs, installation fees (if applicable), maintenance, and the price of ink and other consumables.