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The North American Digital Fine Art Market Opportunity

Introduction

InfoTrends’ 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.

This study provides a follow-up of research on the digital fine art market that was originally conducted in April 2003.

Supplies and Hardware Opportunity

According to the study, 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)

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. 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.

Figure 2: Do you plan to purchase or lease a new digital printer for creating
digital originals and/or reproducing digital fine art in the next 12 months?

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 preceding is an excerpt from InfoTrends’ report entitled “2005 Digital Fine Art Market Study.” The complete document is available immediately. To learn more about the report or to make a purchase, visit our online store or contact Nicole Shown at , ext. 207 or .

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