Increasing Opportunity for Large Format Printers for Home Furnishing & Decor and Vehicle Wrap Applications | Large Format Printer Market

[181 Pages Report] The large format printer market is expected to grow from USD 8.37 Billion in 2016 to USD 10.59 Billion by 2023, at a CAGR of 4.00% during the forecast period. This report provides the market size and future growth potential of the large format printer market across different segments such as offering, printing technology, print width, ink type, and geography. The study identifies and analyzes the market dynamics such as drivers, restraints, opportunities, and industry-specific challenges for the large format printer market. This report also profiles the key players operating in the large format printer market. The base year considered for the study is 2016, and the market size forecast is provided for the period between 2017 and 2023.

The signage and advertising sector in the Americas is growing rapidly; companies in this region are investing more in outdoor advertising and indoor signage. Retail giants such as Walmart and Carrefour are driving the growth of the market for signage applications. The demand for large format printers in the Americas is more for outdoor advertising and indoor signage applications compared to other applications, such as apparels and tile murals. The market in the Americas is more mature than the market in APAC and other regions. The Americas is likely to contribute significantly to the growth of the overall large format market during the forecast period.

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The large format printer market is facing few restraints such as high initial investments and operating costs. Large format printers involve high initial investments for their installation and maintenance; this is restraining the growth of the large format printer market. Large format printing also requires lots of printing materials. Furthermore, the annual electricity consumption by large format printers is also high.

The major challenge for the companies in the large format printer market is the growing popularity of digital media, including digital signage and advertisements, among others, is expected to reduce the demand for print in certain categories, particularly directories, advertisements, and others. Digital signage, billboards, and other media are increasingly being used in the outdoor and indoor advertisement industry.

Major vendors in the large format printer market include Hewlett-Packard (HP) (US), Canon (Japan), Epson (Japan), Mimaki Engineering (Japan), Roland (Japan), Ricoh (Japan), Durst Phototechnik (Italy), Xerox (US), and Konica Minolta (Japan). These players adopted various strategies such as product developments, mergers, partnerships, collaborations, and expansions to cater to the needs of customers.

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