Specialist research and consulting agency Lightwords Imaging is forecasting that the worldwide wide-format digital inkjet market will grow at a compound annual growth rate of 10% for the period 2015-2018, a market that will exceed $24bn in 2018.
Lightwords leveraged primary research and verified vendor shipment data for the prediction, which also indicates strong revenue growth of wide-format inkjet hardware and supplies for aqueous CAD, textile, latex and UV-curable markets.
The company also said the aqueous graphics and solvent inkjet markets are coming under pressure from latex and UV-curable technologies as service providers retire older wide-format printers and invest in new inkjet technologies at an increasing rate.
Managing director Peter Mayhew said: “It’s exciting times for the entire wide-format inkjet supply chain. From manufacturers to service providers, there are some very profitable opportunities emerging for those willing and able to diversify into new markets.”
Lightwords focuses on seven key graphics applications (textiles, technical/CAD, point of sale/purchase, mass marketing/out-of-home, event graphics, directional signage and decorative graphics) as a cross section of the wide-format inkjet market.
“Anyone with a business interest in the wide-format inkjet market needs to understand how the applications that are driving demand, are affected by new technology. Our market forecasts and market specific series of reports, available separately or through our syndicated Graphic Applications Service, will help anyone involved in wide-format inkjet business identify where the profitable market niches can be found,” added Mayhew.
Lightwords Imaging has published six new reports about the wide-format inkjet market. Each report examines the market status and future trends for a different wide-format ink jet technology. Reports discuss the hardware, ink and media trends, at a worldwide and regional level. Details can be found at:
www.lightwordsimaging.com