The Global Large Format Printer market is to grow at a CAGR of 4.12 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing demand for effective advertisement media. The Global Large Format Printer market has also been witnessing a growing preference for printers with customized capabilities. However, the high initial investment is affecting the adoption rate which could pose a challenge to the growth of this market.
With the demand for large format printers stagnating, there is a new trend observed in the market. Customers prefer printers that are customized to their requirements with either limited or extensive capabilities. Vendors are also developing printers that meet the requirements of various end-user segments, thereby trying to increase the demand for printers.
Advertisement media is becoming more revolutionized every day. The introduction of new marketing concepts and the compulsion on the management of companies to design new advertising campaigns is driving the demand for large format printers in the global arena. In order to print new banners and posters with the latest advertisement ideas to outsmart competitors, companies are in need of larger format printers to support them. Hence, the increasing need for large format printers in advertising is driving the growth of the market.
The key vendors dominating this market space are Canon Inc., Hewlett-Packard Development Co. L.P., Oce N.V., Roland DG Corp., and Seiko Epson Corp.
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