Ink Jet Revenues for Narrow & Wide Format to Reach $56 Billion by 2008
Press release from the issuing company
Hanover, MA August 2004 -- I.T. Strategies estimates that worldwide revenues from wide format ink jet and narrow format ink jet hardware, media and chemistry in 2003 were $38.3 billion and will increase to $56 billion by 2008 a CAGR of 8%. Of this, the largest segment is and will continue to be ink, with revenues rising from $17.9 billion in 2003 to almost $31.7 billion in 2008, 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. 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 graphic market, which is made up of aqueous, solvent and flatbed printers that 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.
According to I.T. Strategies analyst Liz Ziepniewski, “Over the forecast period, the largest share of the revenue goes to the narrow format ink jet market with total revenues for hardware, media and ink of more than $32 billion in 2003 growing to almost $47 billion by 2007, a CAGR of 8%. By contrast, the wide format market revenues for hardware, media and ink will grow from $6.0 billion in 2003 to more than $9 billion by 2008, a CAGR of 9%. With an estimated installed base in 2008 of 230 million narrow format ink jet printers that works out to consumables revenues of about $150 per printer. This compares to the wide format market with an estimated installed base of about 366,132 printers in 2008 yielding approximately $22,000 per printer in consumables.”
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