The UV inkjet printer market is expected to exceed $100 billion in 2023
A recent new market report by world-renowned technology research firm Smithers Pira shows that the global UV inkjet printer market is expected to exceed $100 billion in 2023. Its market will grow at a rate of 9.4% per year in the next few years and reach $109 billion by 2023.
This is in stark contrast to the overall outlook for the printing industry, which has an annual growth rate of 0.8%.
This new study provides expert qualitative analysis of market drivers and technology developments that underpin this development, and quantifies all key metrics in an exclusive data set.
In 2018, the total output value of inkjet printing in graphics and packaging applications will reach $69.6 billion, with a total print volume equivalent to 74.9 billion A4 prints. This volume will consume approximately 103,700 tons of ink, with end users spending $8.7 billion, and the new inkjet device market will reach $3.6 billion.
“Because of the large investment in printheads, printing machinery, inks and drying systems, related software and more and more substrates, the economics and reliability of inkjets continue to increase. Most applications have strong growth because of non-impact process is very flexible and can be printed at high quality and speed, suitable for printing a wide range of products, and the cost is a more economical alternative to most analog printing," said Dr. Sean Smyth, Printing Consultant at Smithers Pira.
“Inkjet printing gains market share through simulation processes and opens up new application areas, opening up new market routes and workflows. In terms of packaging, retail supply chain changes and strong growth in e-commerce – now includes mobile-enabled mobile Business" - is driving further applications of inkjet because brands and retailers want to communicate with end users in new ways. Device manufacturers and processors are exploring new features through versioning and personalization on the packaging, because Packaging is used in new ways to interact with consumers,” Smyth continued.
With the potential of uv inkjet printer - mainly short-term and variable data printing - more and more people realize that it is changing the printer business model, disrupting the established supply chain and adding new value-added options.
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