Key Players in the Digital Printing Market

Posted by Steve Stark on January 29th, 2021

The overall digital printing market for printers, inks, and print heads is expected to grow USD 28.85 Billion by 2023, at a CAGR of 4.48% between 2017 and 2023. Digital printing allows on-demand printing and short turnaround time. The increasing demand for digital printers for printing in the packaging and textile industry is expected to drive the market during the forecast period.

The key players in the digital printing market are increasingly adopting strategies such as product launches, product developments, partnerships, contracts, agreements, mergers and acquisitions, collaborations, and expansions to grow in the digital printing market. According to the present scenario, major companies in the digital printing market are investing a lot in R&D. The companies are also partnering with other companies to offer cost-efficient solutions in printing. In terms of market leadership, Hewlett-Packard (US) is the leader in providing digital printing services worldwide. Xerox (US), Ricoh (Japan), Hewlett-Packard (US), and Canon (Japan) provide digital printing solutions worldwide.

Hewlett-Packard (US) held the first position in the digital printer market. The company is well-placed in this market, where it has developed a range of dedicated products. HP provides printers, scanners, digital cameras, calculators, personal digital assistant (PDA), servers, workstation computers, and computers for home and small-business use. HP offers LaserJet and enterprise solutions, inkjet and printing solutions, graphics solutions, print solutions, and 3D printing through its printing segment. Hewlett-Packard (HP) focuses on leveraging the existing portfolio of products and services to meet the demands of the market. HP invests highly in research and development to introduce new technologies with better and unique features.

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Canon (Japan) ranked second in the digital printer market. It offers a range of high-performance, high-image-quality industrial devices, ranging from production printing systems to semiconductor lithography equipment and next-generation nanoimprint lithography systems. Canon offers office multifunction devices (MFDs), laser multifunction printers (MFPs), laser printers, digital production printing systems, high-speed continuous feed printers, wide-format printers, and document solutions. Canon focuses on expanding its market along with reducing the manufacturing cost. The company is continuously developing and launching new products and technologies to establish its brand position in the market. The company made a number of strategic alliances to make new innovations in the printing market, thereby trying to boost its product sales. For instance, in 2016, Canon Solutions America (US) entered into an agreement with Allied Printing Services (US) to develop future business. The company adopted the strategy of product launches in the printing technology.