The Digital Production Inkjet Printing Market is projected to grow significantly, reaching a value of US$ 7.53 billion by 2030, up from US$ 4.99 billion in 2022, reflecting a compound annual growth rate (CAGR) of 5.3% during the period from 2022 to 2030.
Recent technological innovations have led to the emergence of high-speed inkjet printers capable of delivering exceptional print quality at rapid speeds. These printers utilize advanced inks that are not only more durable and environmentally friendly but also capable of producing a broader spectrum of colors. Such advancements enhance the efficiency, cost-effectiveness, and versatility of digital production inkjet printing, prompting businesses across various sectors to adopt this technology. Notably, in May 2021, Canon introduced the ColorStream 8000 Web Feb Inkjet Printer series, which is tailored to address the evolving production needs of both public and corporate sector in-plants, print service providers, and specialized commercial printing firms.
Additionally, Canon unveiled the ProStream 3000 series, representing the next generation of high-speed, web-fed inkjet printers designed for commercial applications. The increasing emphasis on technological progress in digital printing by numerous companies is anticipated to drive the growth of the digital production inkjet printing market in the years ahead.
The global digital production inkjet printing market is categorized by type into monochrome and color segments, with the color segment capturing the largest market share in 2022. Monochrome printers, also known as black-and-white printers, are versatile devices that cater to a wide range of customer requirements. They are particularly effective for printing various types of documents, especially in educational and business settings where there is a consistent demand for black text, barcodes, lines, and other graphics on white paper. Monochrome printers are prevalent in offices, schools, and homes. While inkjet printers like HP's LaserJet Tank 2504DW can produce monochrome prints, black-and-white printing is predominantly associated with thermal and laser printers.
Even when using spot colors, the output often combines color ink with black. Furthermore, monochrome printers tend to be more economical than their color counterparts, both in terms of initial purchase costs and ongoing consumable expenses. They also operate at higher speeds, contributing to their growing popularity in the digital production inkjet printing market.
The global digital production inkjet printing market is further divided by production method into cut sheet, continuous feed, sheet-fed, and web-based categories. In terms of application, the market is segmented into transactional, advertising, publishing, and other uses. Geographically, the market is divided into regions including North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Key players in the Digital Production Inkjet Printing Market include Hewlett-Packard Development Co Lp, Canon Inc, Ricoh USA Inc, Fujifilm Business Innovation Singapore Pte Ltd, Xerox Holdings Corp, Konica Minolta Business Solutions India Pvt Ltd, Eastman Kodak Co, Colorjet India Ltd, Screen Gp Americas Llc, Inca Digital Printers Ltd, and Epson India Pvt Ltd, all of whom are profiled in this market analysis.
The overall size of the Digital Production Inkjet Printing Market has been determined through a combination of primary and secondary research methods. Extensive secondary research has been conducted utilizing both internal and external sources to gather qualitative and quantitative data related to the market. This research process aids in forming a comprehensive overview and forecast of the market across all segments. Additionally, numerous primary interviews have been carried out with industry stakeholders to validate the findings and gain deeper analytical insights. This includes discussions with industry experts such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the Digital Production Inkjet Printing Market.