(Weymouth, MA) December 12, 2005… According to new research by InfoTrends/CAP Ventures, the digital fine art printing equipment and supplies market is expected to double over the next four years, reaching $180 million by 2009. The increasing demand for premium inkjet inks and media is fueling this market’s exceptional growth.
Figure 1: North American Fine Art Market Revenues at the Manufacturer Level ($M)
InfoTrends/CAP Ventures’ new research report, 2005 Digital Fine Art Market Study, provides insight on the producers of digital fine art, defining who they are, how they defined art, and what types of equipment they used. Nearly 200 companies were surveyed to learn more about their technology and brand preferences, media mix, and preferred distribution channels. The study also examines the state of the fine art printing market and uncovers plans for future investments and growth expectations.
One of the leading indicators for growth in the digital fine art market is the aggressive buying expectations users reported for new hardware and supplies over the next year. In fact, survey participants indicated spending an average of $34,000 each year on print media and ink, and nearly three-quarters of the respondents expect to spend more on fine art printing supplies in the next year than they did in the previous year.
“Over the past two years, we have seen an increasing focus on digital fine art printing from many of the leading wide format hardware and media suppliers” commented Tim Greene, a Director at InfoTrends/CAP Ventures. “This increased focus has led to the development of new ink and media products and major system improvements, which have enabled a wide variety of end-users to more easily produce fine art and photographic quality applications.”
33.5% of survey participants indicated that they plan to invest in additional hardware for producing digital fine art over the next 12 months. Nearly three-quarters of these respondents expected to purchase a wide format inkjet device. The variety of media that inkjet printers can handle and its low entry price make inkjet technology the favorite among those respondents who expect to invest in a new printer over the next year.
The research report is available immediately to clients of InfoTrends/CAP Ventures’ Visual Communication Technologies Consulting Service. For more information about the report or to make a purchase, visit our online store or contact Alison Hipp at ext. 126 or .
InfoTrends/CAP Ventures is the leading worldwide market research and strategic consulting firm for the digital imaging and document solutions industry. We provide research, analysis, forecasts, and advice to help clients understand market trends, identify opportunities, and develop strategies to grow their businesses. Additional information about InfoTrends/CAP Ventures is available on the Web at www.infotrendsresearch.com.
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