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FOR IMMEDIATE RELEASE
Worldwide Ink Jet Revenues (Hardware + Media + Ink) for Narrow Format Ink Jet and Wide Format Graphics Ink Jet to Reach $58 Billion by 2009
Hanover, MA - I.T. Strategies estimates that worldwide revenues from wide format ink jet and narrow format ink jet hardware, media and chemistry in 2004 were $42.1 billion and are forecast to grow to $58 billion by 2009 a CAGR of 7%. Of this, the largest segment is and will continue to be ink, with revenues rising from $20 billion in 2004 to almost $33 billion in 2009, more than 50% of total revenues. (Note: in the case of narrow format ink jet ink, revenues include ink and cartridges.)
Ink Jet Printers are found in many different environments from homes to companies printing billboards. I.T. Strategies segments the ink jet market into two broad categories by size: narrow format ink jet printers (less than 24”) and wide format graphics ink jet printers (24” and wider). Narrow format ink jet printers are primarily found in the home; wide format ink jet printers are generally found in print for pay shops providing printing and imaging services to customers as well as in-house environments such as advertising agencies, retail stores and schools. Revenue figures are provided in aggregate but it is important to realize that each section may be made up of very different types of products. This is especially true in the wide format graphics market which is made up of aqueous, solvent and flatbed printers which use different types of media and ink. Not included are revenues from CAD and from industrial ink jet applications such as ink jet heads used in packaging and mailing configurations.
I.T. Strategies, Inc. is an established research and consultancy firm dedicated to serving companies in emerging digital printing markets. The company delivers intelligent data, analysis, strategy, and implementation practices to vendors in the digital printing industry around the world. From offices in Boston and Tokyo, I.T. Strategies conducts and delivers research data, offers interpretation and advice, identifies specific opportunities, and helps organizations implement these strategies to achieve effective solutions. Please visit I.T. Strategies’ Info Store where we offer reports, studies and forecasts that are available for purchase.
I.T. Strategies
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According to Marco Boer, consulting partner at I.T. Strategies, “Consumables are the profit engine of the printer business. This can be seen in our forecast numbers which show ink revenues growing from $20 billion to $32 billion, a CAGR of 11% and media revenues growing from approximately $7 billion to almost $11 billion, a CAGR of 9%. In contrast hardware revenues are flat. In terms of segments, in the narrow format ink jet sector in 2009, consumables revenue per printer is about $137. In the wide format sector in 2009, consumables revenue per printer is about $20,000.”
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