Where is the Large Format Printing Market in 2020, and Why?
While 2020 has not been fair to most industries — all thanks to the pandemic and the inflicted economic downturn, the large format printer market demonstrated steady growth. So much so that it is projected to grow from $9. 3 billion in 2020 to $11. 2 billion by 2025, which is the growth of CAGR of 3.8% in five years (2020-2025). But why it is still flourishing and is expected to grow, especially when most industries have taken a hit, is a question that needs to be answered. Let’s look at the factors that are fueling the growth of large format printing companies:
In the world of advertising, the best large format printing services play a vital role in delivering the brand message to targeted audiences. Printing marketing collaterals, such as posters, banners, stickers, pull-up banners, and more, require the use of large format printers in their production. And with more businesses turning to these marketing collaterals for their advertising, there has been a dramatic increase in the demand for large format printing companies. This demand is more noticeable in the textile, packaging, and advertising industry, driving the growth of the large format printer market.
Large format printing companies are a major player in creating and producing robust outdoor advertising material, such as banners, posters, vehicle wraps, signage, and others. Besides, the adoption of UV curable inks enables large format printers to print on a wide range of substrates, from wood to foam board to glass cardboard and more. Both the ability to produce durable prints that can withstand harsh conditions and the ability to print on a multitude of substrates have been a significant factor in the growth of the large-format printer market.
One of the major reasons why the large format printer market is expected to flourish by 2025 is that large format printers allow businesses to create 3D prints for their marketing collateral while enjoying high quality with improved efficiency and reduced energy wastage, which is better and more cost-effective than traditional 2D printing. The 3D printing also offers benefits such as scaled-down replicas of the designs coupled with technology such as selective laser sintering and fused deposition modeling.
If you are looking for a printing company in Las Vegas or printing equipment to kickstart your business, feel free to get in touch with us today.