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[February 21, 2013]
Global Large Format Printer Market 2012-2016 with Canon Inc. and Hewlett-Packard Development Co. Dominating
(M2 PressWIRE Via Acquire Media NewsEdge) Dublin - Research and Markets (
) has announced the addition of the "Global Large Format Printer Market 2012-2016" report to their offering.
TechNavio's analysts forecast the Global Large Format Printer market 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.
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.
Commenting on the report, an analyst from TechNavio's Hardware team said: ''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.'' According to the report, 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.
Further, the report reveals that the Global Large Format Printers market is experiencing hindrances to its growth due to lack of awareness about this technology across the globe.
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