Digital Color Revenues Forecast To Reach $92 Billion by 2007
Press release from the issuing company
Hanover, MA…December 19, 2003 -- I. T. Strategies forecasts that worldwide revenues from the sale of ink jet (both narrow and wide format) and color electrophotographic printers (digital presses, connected color copiers and desktop laser printers) and their related consumables totaled $55 billion in 2002. By 2007, total digital color revenues are forecast to reach almost $92 billion, a CAGR of 11%. (Note: 1) prices are calculated at dealer/retail value and 2) revenue figures do not include revenues from printed output.)
In 2002, revenues from chemistry (ink and toner) at almost $27 billion made up almost half of the market. By 2007, revenues from chemistry are expected to be almost $50 billion, representing about 54% of the market. Hardware revenues will drop from 32% ($18 billion) in 2002, to 22% ($20 billion) in 2007, reflecting the continuing decline in hardware pricing.
Ink Jet vs. EP
I. T. Strategies estimates that in 2002, ink jet revenues from the sale of printers, media and ink were $33 billion and are forecast to grow to $50 billion by 2007, a CAGR of 8%. Color EP revenues from the sale of printers, media and toner of $22 billion in 2002 are forecast to grow to $42 billion by 2007, a CAGR of 14%. According to Mark Hanley, president of I.T. Strategies, “Currently ink jet and EP are found in different segments: Narrow format ink jet primarily in the home; wide format ink jet in graphics applications; and EP in the office and commercial printing applications. However, over time we can expect to see a merging as ink jet is used for documents and EP for graphics applications such as POP signage and fine art.”
In 2002, ink jet revenues made up more than 60% of total revenues. By 2007, the percentage is expected to drop to 54% as color EP takes more share from monochrome EP applications driven by OEMs such as Xerox, HP, Canon, Ricoh and Lexmark who are looking to color as their future.
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