Print on demand is referred to as a criteria of printing technology that facilitates the creation of customized book copies and apparel designs as per client demand. It has gained immense popularity among book sellers and publishers. It not only decreases the operational cost for a publishing company but also prevents unnecessary labor, therefore is time saving in nature. This technology is predominantly used to manage printers, copiers, desktop printers, and scanners, while providing unified control over all the basic elements. It can be used as a standalone application or as an embedded technology attached in managed print facilities.
The Global Print-on-demand Software market is presently worth USD 9.83 billion and is poised to amplify at a CAGR of 26.10% over 2022-2030, thereby amassing a valuation of USD 62.81 billion by end of the assessment timeline.
What are the growth determinants and restraints of this marketplace?
The booming e-commerce sector and rising disposable income of the masses are primarily augmenting the outlook of this marketplace. Also, escalating demand for customized apparels is adding momentum to the industry progression.
Furthermore, growing internet penetration and rapid adoption of smart devices are creating lucrative opportunities for the marketplace to prosper.
Also, the ability of this technology to decrease operational costs pertaining to the related company is positively swaying the dynamics of this business sphere. Besides, surging R&D activities in the field is aiding industry expansion.
Moreover, widespread technological advancements in the field coupled with the establishment of efficient infrastructure across the major economies are stimulating the overall market dynamics.
Additionally, shifting inclination of the masses towards online shopping channels due to various factors such as doorstep delivery, availability of a wide range of options, and presence of discounts and offers is creating an upsurge in the demand for print on demand market.
On the contrary, lack of transparency pertaining to on demand printing applications coupled with their high costs are hindering the remuneration scope of this industry.
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Segmental assessment of Global Print On Demand Software Market:
By Platform
- Software
- Service
The software segment is expected to generate substantial returns over the stipulated timeframe ascribing to the operational efficacy and affordability of print of demand software.
By Software
- Stand-alone
- Integrated
The integrated segment is anticipated to grow considerably by 2030 owing to the wide array of benefits offered by print on demand applications including enhanced computing power, operational flexibility, and cost effectiveness.
By Product
- Apparel
- Home Décor
- Drinkware
- Accessories
- Others
The apparel segment is poised to amplify significantly over the forecast duration. This is credited to the growing fashion consciousness of the masses, rising disposable income levels, and increasing proliferation of online retail in the fashion dynamics.
Which is the fastest growing region in the market?
The major regions constituting the geographical gamut of this business vertical are North America, Middle East & Africa, Europe, Latin America, and Asia Pacific. Among these, North America is projected to capture a substantial revenue share over 2022-2030. This is ascribed to the rising e-commerce sales, widespread technological evolution in the field, and growing R&D investments.
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Expounding the competitive terrain of this industry:
The primary players characterizing the competitive ambit of this marketplace are Printful, Teespring, SPOD (Spreadshirt), Gelato, Teelaunch, Apliiq, Amplifier, TeePublic(Redbubble), Printify, Gooten, T-Pop, JetPrint Fulfillment, CustomCat, and Printed Mint.
Notably, in March 2022, Printful inked a partnership deal with Patternbanik to diversify their product offerings.
Key questions answered in the report:
- What is the growth rate projection for Global Print On Demand Software Market over 2022-2030?
- What are the major growth determinants of the Global Print On Demand Software Market?
- What are the major segments covered in the Global Print On Demand Software Market report?
- Which product segment is leading the Global Print On Demand Software Market?
- Which is the fastest growing segment in the Global Print On Demand Software Market?
Key takeaways from the report:
- The global print on demand market is presently worth USD 6.17 billion and is expected to amplify at a CAGR of 26.10% over 2022-2030, thereby amassing USD 39.40 billion by end of the assessment period.
- The booming e-commerce sector and rising disposable income of the masses are primarily augmenting the outlook of this marketplace.
- The major segments covered in the report are platform, software, and product.
- The apparel product segment is currently leading the overall market due to the growing fashion consciousness of the masses, rising disposable income levels, and increasing proliferation of online retail in the fashion dynamics.
- North America presently accounts for a high market share owing to the rising e-commerce sales, widespread technological evolution in the field, and growing R&D investments.
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