Elmhurst, IL—Technavio’s monitoring of the large-format printers market reveals that it will grow at a CAGR of 1.44% till 2024. Moreover, during the forecast period, the market will show a decelerating growth of $352.65 million.
According to Technavio, the market is concentrated; what’s more, the degree of concentration will decelerate during the forecast period. Agfa-Gevaert NV; Canon Inc.; Fujifilm Holdings Corp.; HP Inc.; Kyocera Corp.; Ricoh Co. Ltd.; Roland DG Corp.; Seiko Epson Corp.; Sony Corp.; and Xerox Corp. are some of the major market participants.
Furthermore, the research firm attributes the growing adoption of UV-curable ink as instrumental in driving the growth of the market.
“To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments,” Technavio asserted.
Large Format Printers Market 2020–2024: Segmentation
The report includes detailed geographical analysis, including all major regions: North America, South America, Europe, Asia Pacific (APAC) and also Middle East and Africa. The analysis indicates that South America has the highest share.
In addition, the market is segmented based on technology. It includes subsegments such as aqueous, solvent, UV-cured as well as latex. “The adoption of latex ink will be one of the key driving forces in the market through 2024. It is expected to have a major impact on technology,” states Technavio.
It also includes an analysis of around 25 vendors in the large-format printers market. The vendors are spread across various categories, having dominant to weak presence in the market. A vendor with dominant presence has significant control in the market and can influence in various ways. According to Technavio, they include product/service launches, lobbying for regulations, M&A, or geographical expansion.
On the other hand, weak players generally have very low market share or presence in very few geographical markets. These players generally play in the market with the rules set by the leaders.
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