Digitalization and Its Impact on the Printing Machinery Market

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The global Printing Machinery Market is likely to expand at 4.7% CAGR over the forecast period. The industry’s size is predicted to surge from USD 22,814.9 Million in 2023 to USD 38,572.8 Million by 2033.

A vast proportion of readers are continuously shifting toward online mediums. Due to the proliferation of the internet and subsequent rise in digital platforms like Amazon Kindle and Kobo. As a result, the printing machinery industry is poised to exhibit a dynamic shift.

Manufacturers involved in the industry are leveraging the surge in packaging products. The burst of e-commerce sites in the last few years has created a huge demand for packaging and labels. Both packaging and label not only protect the final product but also promote the brand. Therefore, companies are greatly working towards creating unique packaging solutions that effectively purvey the brand’s beliefs and values.

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Future Market Insights has estimated that the packaging industry is projected to attain nearly half of the overall market share, in terms of end-use.

For commercial purposes, printing machinery is still finding applications. They are used for businesses like advertising, retail, marketing, and other commercial businesses.

Fabric, a type of substrate, requires a durable textile printer to manufacture high-quality products. Printed fabrics can be commonly seen as a form of packaging. In June 2022, the apparel industry proposed the digitalization of physical labels on clothes.

The issue was raised on grounds of lack of accessibility to sight-impaired consumers, inflicting irritation to people with sensitive skin, and chemical-based inks. In the future, these tags are expected to take the form of a QR code, taking a cue from rampant digitalization.

Top Highlights:

  • The North American market holds a monumental position in the printing machinery industry. This region is closely rivaled with Europe, which accounts for 24.2%, as compared to the 25.8% market share North America held in 2022.
  • Within North America, the United States is projected to represent a colossal share of the industry. In 2022, the country held a 21.1% market share and generated substantial revenue for the overall market.
  • Germany has held a share of 6.1% globally. The country has been significantly contributing toward regional growth and is expected to continue doing so.
  • China and India are vigorous markets for printing machinery in the Asia Pacific. India is estimated to account for 7.6% CAGR and China is estimated to expand at 5.6% CAGR in the next 10 years.
  • Based on product type, offset lithography grabbed a 49.2% market share in 2022.
  • The packaging industry attained a total of 42.1% market share in 2022.

Key Developments Inducing the Market Growth:

  • Epson America, Inc. extended its EcoTank line printing solutions in 2021. The new solutions are intended for home offices and creative professionals. The firm introduced EcoTank Photo ET-8550 and ET-8500 for crafters, creatives, scrapbookers, professional graphics, and graphic design solutions.
  • Memjet launched a new technology named DuraFlex in 2020. This technology helps produce industry-leading quality and speed in an affordable range. Due to the modular design of DuraFlex, OEMs can manufacture printing equipment. Making them commercially available in a relatively short period.

Top Manufacturers:

  • Agfa-Gevaert NV
  • Oce NV
  • Bobst Group SA
  • Fujifilm Holdings Corporation
  • Heidelberger Druckmanschinen AG
  • HP Inc.
  • Koening & Bauer AG
  • Komori Corporation
  • Apex Machine Company Inc.
  • Officine Meccaniche Giovanni Cerutti S.p.A.

Dive Deeper into the Data—View the Full Report Here! https://www.futuremarketinsights.com/reports/printing-machines-market

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