A new report states Asia-Pacific sector will grow by 4.62 percent by 2018.
The study, from ReportsnReports, looked at the wide-format market in the Asia-Pacific (APAC) region from 2013 to 2018, predicting that the market will see a Compound Annual Growth Rate (CAGR) of 4.62 percent during the period, with “high adoption in the textiles segment […] expected to drive the market growth”.
Thanks to “advances in technology” across wide-format printing, printers have increased in both “efficiency and productivity”, the analysts note, with the predictions looking at the “present scenario and the growth prospects” for the market through the sales of machines used in both the technical and graphics industries in the APAC region.
With wide-format devices “mostly used for commercial purposes” due to their cost, the report believes the “increased demand for direct-to-fabric” printers will be the key market driver, whilst the challenge of needing to provide a “high initial investment” will need to be overcome by companies in the APAC sector. Additionally, a trend the report highlights for the next four years is an “increased usage of latex ink” in the machines.
The report also looks at the “vendor landscape [with] a corresponding detailed analysis of the leading vendors in the market”, with key OEMs for the APAC wide-format region including Canon, HP, Ricoh, Roland and Epson, though other OEMs are considered, including Konica Minolta, Kyocera, Mutoh and Xerox.