Jul 16, 2021   SOURCE: BusinessWire

Global Tactile Printing Market (2021 to 2028) - by Application, End-user and Geography - ResearchAndMarkets.com

The "Tactile Printing Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Application and End User" report has been added to ResearchAndMarkets.com's offering.

The tactile printing market was valued at US$ 1,353.27 million in 2021 and is projected to reach US$ 2,257.92 million by 2028; it is expected to grow at a CAGR of 7.6% from 2021 to 2028.

The players operating in the tactile printing market are experiencing significant demand for their products. However, for commercial and industrial grade tactile printing machines, cost is considered as a restraining factor for market growth. An industrial-scale UV inkjet printer can add 40% to 300% in capital expenses, while operating costs are high-especially for UV-based ink systems. Tactile printers may cost thousands of dollars per unit, depending on the scale of production. Moreover, they require regular maintenance for optimum performance that also involves the recurring costs for the users. Thus, the cost factor significantly hinders the tactile printing market growth, especially for personal usage.

In terms of geography, the tactile market is segmented into North America, Europe, APAC, MEA, and SAM. Asia Pacific held the largest revenue share in 2020, followed by North America and Europe. Further, Asia Pacific is expected to witness the highest CAGR during the forecast period. The tactile printing market is segmented on the bases of application and end-user. Based on application, the market is segmented into packaging & labels, tactile graphics, and secure documentation. The packaging & labels segment led the overall market in 2020. Based on end-user, the tactile printing market is segmented into Braille users, industrial, and government & defense. The Braille users segment is expected to register the highest CAGR during 2021-2028.

The COVID-19 outbreak crisis is adversely affecting the most of the industries across the world. Due the disruptions in supply and demand across the value chain, companies operating in the global tactile printing market are witnessing decline in revenue and business growth. Therefore, the outbreak restrained the overall growth of the market in 2020 to some extent. However, owing to the expected rise in demand from commercial and industrial users globally, the market growth is expected to normalize from third quarter of 2021 and continue to grow at a steady rate from 2021 to 2028.

The overall tactile printing market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the tactile printing market with respect to all the segments. It also provides the overview and forecast for market based on all the segmentation considered with respect to five major regions-North America, Europe, Asia Pacific, Middle East & Africa, and South America. Also, primary interviews were conducted with industry participants to validate data and gain more analytical insights into the topic. The participants of the process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the tactile printing market.

Reasons to Buy

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Tactile Printing market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the global Tactile Printing market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Market Dynamics

Drivers

  • Growing Demand for Tactile Graphics for Improved Accessibility to Visually Impaired
  • Rising Demand for Innovative Packaging across Industries

Restraints

  • High Initial Investments and Maintenance Costs

Opportunities

  • Increasing Efforts to Boost adoption of Tactile Graphics in Developing Regions

Future Trends

  • Compact and Technologically Advanced Tactile Printers

Companies Mentioned

  • Altix
  • Konica Minolta, Inc.
  • Rink Printing Company
  • Sturdy Print & Design Ltd
  • American Thermoform
  • Canon Inc
  • Index Braille
  • Kanematsu USA
  • ViewPlus Technologies Inc
  • Roland DG Corporation

For more information about this report visit https://www.researchandmarkets.com/r/gzfdpj