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.
New York, June 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Tactile Printing Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application and End User" - https://www.reportlinker.com/p06099498/?utm_source=GNW
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.
A few major players operating in the global tactile printing market are Altix; Konica Minolta, Inc.; Rink Printing Company; Sturdy Print & Design Ltd; American Thermoform; Canon Inc; Index Braille; Kanematsu USA; ViewPlus Technologies Inc; and Roland DG Corporation.
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