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Market Leader - Large Format Printer Market

The large format printer market is expected to grow from USD 8.37 Billion in 2017 to USD 10.59 Billion by 2023, at a CAGR of 4.00% between 2017 and 2023. The growth of the large format printer market can be attributed to the increasing demand for large format printing in textile, advertising, and packaging industries; the rising adoption of UV-curable inks in outdoor advertising, CAD, and technical printing applications; and the growing importance of digital document production in commercial printing applications.

Currently, the large format printer market is witnessing several new product developments, partnerships, and mergers & acquisitions across the globe. The market is in the matured phase, and the companies are focusing on introducing innovative products. However, the high cost associated with running of inkjet printers is hindering the growth of this market. The large format printer market is expected to witness a moderate growth in the near future, with the growing applications of the technology.

HP Inc. (U.S.) was ranked first in the large format printer market, and it seeks to increase its large format line by introducing new series of printers with better performance and cost. The company also develops its products and services according to the requirements of its different categories of customers. It offers a variety of products to its customers, providing customized features and specifications based on their requirements. HP invests more in the research and development sector to introduce new technologies with better and unique features. For instance, in 2016, HP introduced the new HP Latex 500 Printer series and HP Latex 1500 Printer, serving medium-to-large sign and display print service providers.

Canon (Japan) was ranked second in the large format printer market. The company focuses on new product development as a key strategy to attract new customers and increase its product offerings and market share. The company introduced two new large format printers for professional photographers as part of its image PROGRAF Pro series in 2016.  It also launched three new 44-inch, high-volume large format inkjet printers. These Canon image PROGRAF iPF850, iPF840, and iPF830 models are available as multi-function devices and designed to bring reliable, affordable, and precise printing to architecture, engineering, and construction (AEC) and computer-aided design (CAD) markets. These product launches are helping the company to increase its footprints across the various applications.

Seiko Epson (Japan) was ranked third in the market and has an extensive market presence and a huge network of wholly owned subsidiaries. The company has been adapted different strategy such as acquisition, new product developments, and expansions to strengthen its portfolio. For instance, in 2015, it acquired For.Tex S.R.L. (Italy) to strengthen its textile printing business in Europe.

Related Reports:

Large Format Printer Market by Ink Type (Aqueous Solvent, UV-Curable, Latex, Dye Sublimation), Printing Technology (Inkjet, Laser), Print Width, Application and Geography - Global Trends & Forecast to 2022

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