(Norwell, MA) January 14, 2003… CAP Ventures estimates that the North American digital fine art market was valued at $290 million in 2003. This market is expected to experience a CAGR (compound annual growth rate) of 20% to reach a retail value of nearly $600 million by 2007. Improvements in inkjet printing technology have enabled this explosive growth.
In a new CAP Ventures research report entitled Large Format Digital Fine Art Market Study, analysts examine the use of large format digital printers for producing digital fine art. The research for the report was conducted in 2003 via Web-based surveys. Nearly 200 respondents from a variety of end-user segments completed the surveys. The research focuses on gathering information to size the market in North America, providing details on the usage and longevity requirements for large format fine art prints, determining production trends, and establishing leading brands of hardware and supplies.
For printer vendors, this research shows that digital fine art printers are satisfied with the tools that are currently available. Manufacturers' revenue is expected to nearly double between 2003 and 2007, increasing from $60 million to $105 million.
Supplies vendors should also take note of this explosive market. The premium aspect of digital fine art supplies offers vendors shelter from the price squeezing that is taking place in the general graphics market. The low-cost approach to generating market share has not taken hold in the fine art market, providing a good opportunity to vendors that can develop an appropriate sales and distribution channels.
The North American large format fine art print market is a large and growing business. With a wide variety of print service providers adopting the application, CAP Ventures believes that the digital fine art printing market is just beginning to blossom.
This research report is available immediately to clients of CAP Ventures’ Visual Communications Technologies Consulting Service. For more information about the report or to make a purchase, please contact Stewart MacDonald at (781) 871-9000, ext. 175 or via e-mail at [email protected]