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The Functional Printing Market is likely to witness significant revenue growth. The growing demand for affordable electronic printing solutions and printing technologies are key driving forces. According to Market Research Future (MRFR), the global functional printing market value is poised to grow from USD 6.2 BN in 2022 to USD 30.258 BN by 2032, with a 19.26% CAGR throughout the assessment period (2023-2032).
Functional printing is an emerging technology enabling the next wave in large-scale electronics. The growing demand for advanced printing technologies and materials is one of the major factors driving the adoption of functional printing. Rapid industrialization worldwide creates enormous demand for electronic printing solutions in various industries.
Growing businesses need smart and affordable printing technology to produce printouts at high speeds and low costs, presaging significant progress for functional printing. The growing demands for high-quality, reliable printing, scanning, and copying solutions influence the functional printing market growth.
Major Players
Leading functional printing market players include
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Functional Printing Market – Segments
The functional printing market is segmented into materials, printing technology, applications, and regions. The material segment is sub-segmented into inks, substrates, and others. The printing technology segment is segmented into flexography, screen printing, gravure printing, inkjet printing, and other printing technologies.
The application segment is segmented into display, lighting, sensor, photovoltaic, RFID tags, battery, and other applications. By region, the functional printing market is segmented into the Americas, Europe, Asia-Pacific, Middle East & Africa, and the rest of the world.
Functional Printing Market – Regional Analysis
North America dominates the global functional printing market. The growing demand for Near Field Communication (NFC) in mobile payment devices and advances in smartphones boost the functional printing market size. The growing demand for NFC chip-enabled smartphones for their convenient and hassle-free payment option substantiates the functional printing market revenues.
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Global Functional Printing Market – Competitive Analysis
The functional printing market appears highly fragmented and competitive, with several big and small players. Though large companies have great geographical proximity, the entry of several new companies will pose stiff competition. Emphasizing new product development initiatives and geographic expansion, functional printing industry players incorporate strategic initiatives such as mergers & acquisitions, collaborations, expansion, and technology launches.
Industry/ Innovation/ Related News
July 31, 2023 — HP India introduced a new range of multi-function-printers, LaserJet Pro MFP 4104 printers for affordable high-volume printing. Enabling high-quality yet cost-effective printing, LaserJet Pro MFP 4104 printers will allow Indian businesses to experience improved printing, scanning, and copying capabilities. Furthermore, these affordable, versatile, and easy-to-maintain LaserJet Pro MFP 4104 printers can improve the operational efficiency of the photocopy businesses.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
