The Bradford business will add the new machine to its comprehensive screen and digital setup when it arrives next month.
Dominic Clark, managing director of Dominion, said the company, which is "fundamentally a trade print house", said the investment was part of creating the future shape of the company.
He said: "We asked ourselves where do we go from here? The Inca Onset S20 is a quantum leap with what it brings to the market.
"We're not targeting the screen market with this; instead we're looking to tackle the KBA market - it offers litho quality."
Clark is confident the new Onset represents the best combination of photographic print quality coupled with high production speeds, an offering that complements Dominion's existing setup.
"With screen, it's a mature, developed market that has reached its peak. It is being eroded by digital at the bottom and by litho at the top," he said.
Clarke added: "With the Onset S20, instead of telling someone we can fulfil 30% of their print buying requirements, we can say we can fulfil 60% of that."
Dominion Screen & Digital Print employs 54 staff and was established in 1983.
Last month, UK point-of-purchase (PoP) specialist PPE was revealed as the global beta site for Inca's Onset S20 high-speed UV flatbed printer.
Dominion Screen & Digital Print tackles large format market with Inca Onset S20
Dominion Screen & Digital Print is targeting new markets after taking a "quantum leap", investing in an Inca Onset S20 UV flatbed printer.