HOME Research Insight Hewlett-Packard (US) and Canon (Japan) are the Key Players in the Digital Printing Market

Hewlett-Packard (US) and Canon (Japan) are the Key Players in the Digital Printing Market

The overall digital printing market for printers, inks, and print heads is expected to grow from USD 22.18 Billion in 2017 to 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. In May 2016, HP expanded its HP DesignJet Z-series portfolio with the introduction of a 44-inch multi-roll printer and the company’s most affordable 24-inch high-impact graphics printer. Both new HP DesignJet Z-series printers include new HP DesignJet Click printing software to optimize time and simplify printing by enabling radically simple, one-click printing.

Canon (Japan) ranked second in the digital printer market in 2016. 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. For example, in July 2017, Canon introduced two new variants of wireless inkjet printers for home users, which are easy to connect wirelessly and works with affordable cartridges.

Related Reports:

Digital Printing Market for Printers, Inks, and Print Heads by Ink Type (Aqueous, Solvent, UV-Curable, Latex, and Dye Sublimation), Print Head Type (Inkjet and Laser), Substrate Type (Glass, Textile, Paper), and Geography - Global Forecast to 2023

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