by Digital printing technologies are revolutionizing printing with continuous technological advancements and innovative solutions across various end-use industries. Digital printing refers to the direct transfer of digital content onto various substrates such as paper, films, etc without the use of conventional printing plates. Digital printing allows on-demand, short-run printing with cost-effective, low minimum order quantities. It enables customization by incorporating variable data like customer names and addresses. Industries such as clothing, textile, and signage are adopting digital printing solutions to enhance design flexibility and enable new applications.
The global Digital Printing Market is estimated to be valued at US$ 37.18 Bn in 2024 and is expected to exhibit a CAGR of 31% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the digital printing market size is the increased adoption of digital textile printing systems. Digital printing on textiles provides design flexibility and helps in reducing errors and wastage of unsold inventory compared to traditional printing methods. It allows on-demand printing with no set-up charges. Growing demand for customized apparel from the expanding e-commerce fashion industry is fueling the adoption of digital textile printing globally. Manufacturers are innovating digital printing solutions such as Epson’s DS line of direct garment printers to enter new applications in the textile and fashion industry. These advanced solutions provide enhanced color quality, versatility, and scalability to meet the varied demands of the textile industry.
Porter’s Analysis
Threat of new entrants: The digital printing market requires high initial investments in technology and equipment, making the threat of new entrants moderate.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitute products and services.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to the differentiated nature of inputs and services required.
Threat of new substitutes: The threat of substitutes is low as digital printing offers advantages over traditional printing.
Competitive rivalry: The digital printing market is highly competitive due to the presence of numerous global and regional vendors.
Key Takeaways
The global digital printing market is expected to witness high growth.
Regional analysis: North America holds the largest share in the global digital printing market owing to the presence of major players and increasing adoption of digital printing technologies across various end-use industries in the region. Asia Pacific is anticipated to grow at the highest CAGR over the forecast period owing to rapid industrialization, rising disposable income, and emerging small and medium enterprises driving the demand.
Key players: Key players operating in the digital printing market are IZEA, HYPR-DRIVE Ltd., Traackr, Launchmetrics, JuliusWorks, Inc., KLEAR, Upfluence, AspireIQ, Mavrck, Lumanu Inc., LINQIA, INC, InfluencerDB, ONALYTICA, Lefty, Social Beat, and Grapevine. IZEA and Traackr are recognized as innovative market leaders with comprehensive solutions and global presence.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
