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The printers market size is projected to increase by USD 10.65 billion, at a CAGR of 3.46% between between 2024 and 2028. The growth rate of the market depends on several factors, including rising demand for printers from SMEs, growing demand for large-format printers from textile and advertising industries and increasing demand for compact portable printers. A printer is a peripheral device used to produce hard copies of digital documents, images, or other forms of data stored on a computer or another electronic device. Printers work by transferring text and images onto paper, typically using technologies such as inkjet, laser, or dot matrix. This market research and growth report includes key drivers, trends, and challenges during the forecasted period.
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The market encompasses a wide range of products and technologies, including inkjet printers, LED printers, thermal printers, and more. With the rise of remote work and the increasing demand for home printers, the market caters to both residential and commercial users. Textile printers and medical 3D printers represent specialized segments, while multi-functional printers offer versatility for various printing needs. Advancements in cloud-based computing and software have revolutionized the printing industry, enabling efficient printing solutions. Brother Industries Limited is a key player in this market, providing innovative printers for commercial printing, newsletters, manuals, and business forms. From impact printers using ink ribbon to non-impact printers with advanced technologies, the Global Printers Market offers diverse options for printing needs in shopping outlets, POS terminals, and cash registers, catering to both residential and commercial users.
The market offers a diverse range of printing solutions to meet various needs. Dot matrix printers, 3D printers, and large-format printers cater to different industries, including educational institutions and textile printing. From residential to commercial and enterprise users, printers like wireless, LED, and thermal printers, along with multifunctional and color printers, provide versatility. Eco-friendly practices are emphasized, with options like Brother Industries Limited's color laser printers leading the charge. Post-pandemic, demand for mobile printing and cloud-based solutions has surged, while industrial setups prioritize durability. Managed print services (MPS) ensure efficient printing in enterprises, supported by Bluetooth technology and eco-conscious practices.
Increasing demand for compact portable printers is notably driving the Printers Market Analysis Size. The growth of compact portable printers is driven by the increasing demand for these small workgroups, homes, and offices. Small work groups, homes, and office space constraints. Thus, they tend to focus on products that occupy less space. Such customers prefer compact portable printers that can deliver excellent print quality and that are equipped with mobility features for easy printing using a smartphone. Thus, companies in the global portable printer market offer products that are compact, deliver high print quality and print speeds, and are equipped with mobility features.
For instance, Canon offers SELPHY CP1300. It is a compact portable printer enabled with Wi-Fi, which can help users print high-quality photographs directly from their smartphones or cameras. It contains an optional battery pack that has the capacity to print up to 54 photographs. It is also enabled with functions like the new Wi-Fi Shuffle Print mode, which can combine images to form a unique collage on a single photograph. Such developments are expected to positively impact the growth of the market during the forecast period.
Growing focus on inorganic growth strategies is an emerging trend shaping the Printers Market Analysis Size. Printer manufacturers are actively focusing on inorganic growth strategies such as new product launches and acquisitions to survive in the highly competitive market. Acquisitions and new product launches help printer manufacturers in product development and geographical expansion, as well as in gaining access to technological expertise. These strategies also enable vendors to explore new opportunity areas for their products and services and generate revenues through the sales of their products and services to a wider customer base.
For instance, in March 2023, Kyocera acquired NIXKA, a France-based inkjet print engines and systems manufacturer. The acquisition will help Kyocera to serve new applications in commercial and industrial printing during the forecast period. Similarly, in June 2023, Sharp launched three new A4 multifunction line of printers. Thus, the rising number of new product launches and acquisitions by key companies is expected to positively impact the growth of the market during the forecast period.
The availability of refurbished and counterfeit printers and printer supplies is a significant challenge hindering the Printers Market Analysis Size. Refurbished printer devices are sold in the grey market. During the forecast period, the demand for refurbished electronic products, including printers, will increase. Refurbished printers may have some technical or operational defects. These printers are inspected for any technical and operational defects and repaired and restored to their original working condition either by their respective manufacturers themselves or by repair experts. Counterfeit supplies are also adversely affecting the growth of the global printer market. Counterfeit products are re-engineered copies of original products, which look similar to the original ones.
Moreover, counterfeit printer manufacturers are expanding their presence in many countries, which is posing a threat to the global market. For instance, in January 2020, HP reported that it had seized counterfeit ink and toner products worth USD 7.18 million during a 15-month operation across various Southeast Asian countries, such as Indonesia, Thailand, Malaysia, and Vietnam. Thus, the presence of refurbished and counterfeit printers and printer supplies is expected to hinder the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the Printers Market Size Analysis Growth Report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and trends strategies.
Printers Market Report Customer Landscape
In the Printers Market Forecast Report, the route of administration varies based on user needs and printer types. Wireless printers offer convenience for residential users, allowing printing from multiple devices without physical connections. LED printers utilize light-emitting diodes for printing, providing fast and high-quality outputs, suitable for A4 printers. Thermal printers use heat to transfer images onto paper, ideal for printing carbon copies and receipts. The printer head, a critical component, determines the quality and precision of printing across all types of printers.
The market share growth by the laser segment will be significant during the forecast period. Laser printing is a non-impact printing technology that uses the principle of electrophotography or electrostatic charges for printing. In laser printing technology, laser light is used for inducing charges and facilitating printing. Laser printing technology can be applied to a wide range of applications, such as variable data printing and wide-format printing.
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The laser segment was the largest and was valued at USD 36.94 billion in 2018 in the Printers Market Forecast Report. The key factors fueling the adoption of laser printer technology are the emergence of compact laser printers, the rising demand for A4 and A3 laser multifunctions from enterprises, and the declining average selling price of laser printers. Moreover, laser printer manufacturers are focusing on tapping the consumer Printers Market Size Analysis Growth Report, which is dominated by inkjet due to their low prices. During the forecast period, the demand for laser printing technology is expected to be steady due to the increasing demand for laser multifunction from enterprises. However, the emergence of ink tank printers is likely to hinder the Printers Market Analysis Size of this segment during the forecast period.
Multifunctional printers (MFPs) encompass a range of types that cater to diverse needs in the global printer market. Inkjet MFPs, prized for their affordability and versatility, find favor in homes and small offices, due to excellent vibrant color printing features. Conversely, laser MFPs, known for their speed and cost efficiency, dominate corporate environments and larger businesses, offering sharp text and graphics. A3 MFPs cater to industries that require larger format printing, such as architecture and graphic design, while production MFPs are geared toward high-speed, high-volume printing in commercial settings like print shops and publishing houses. Each type of MFP addresses specific demands, from compact, home-based operations to large, industrial-grade printing, reflecting the diverse needs across various end-user sectors in the market.
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APAC is estimated to contribute 52% to the growth of the global market during the forecast period. Technavio's analysts have provided extensive insight into the market forecast, detailing the regional Printers Market Trends and drivers influencing the market's trajectory throughout the forecast period. The key factors driving the printer market in the region are the proliferation of high-level automation across industries and verticals and the increasing awareness and demand for operational efficiency to drive business process optimization and productivity. The region comprises developed economies, such as South Korea, Japan, and Singapore, as well as developing countries, such as China, India, Malaysia, Vietnam, the Philippines and Indonesia. Additionally, APAC is home to several major printer manufacturers, such as Ricoh Co. Ltd.(Ricoh), Konica Minolta Inc., Kyocera Corp., Epson and Sharp Corp. Increasing IT investments by SMEs, the augmenting number of SMEs and startups, and the rising disposable income of people also fuel the growth of the printer market in APAC.
In addition, more than 80% of the total number of enterprises in the region are SMEs. SMEs are shifting from legacy printing infrastructure to advanced printing infrastructure; they are implementing connected systems, which is increasing the demand for multifunction printers. For instance, Seiko Epson Corporation, a Japanese multinational electronics corporation, offers the Epson Workforce WF-100, a compact and wireless mobile printer that has Wi-Fi Direct and is compatible with gadgets such as smartphones, tablets, and laptops, for the printing requirement of the workforce working remotely. Therefore, the introduction of them will fuel the growth of the printer market in APAC during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Canon Inc - The company offers printers such as PIXMA G4770, PIXMA G3730, and PIXMA G3770.
The Printers Market Analysis Size Report also offers information on several market vendors, including Brother Industries Ltd., Canon Inc., Dell Inc., FURUKAWA Co Ltd, Hewlett Packard Enterprise Co., Konica Minolta Inc, Kyocera Corp., Lexmark International Inc., Nashua Ltd, Oki Electric Industry Co. Ltd., Panasonic Corp, Ricoh Co. Ltd, Riso Kagaku Corp, Roland DGA Corp., Seiko Epson Corp., Sharp Corp., Sindoh Co. Ltd., Toshiba Corp., and Xerox Holdings Corp. among others.
Market analysis and report of qualitative and quantitative Printers Market Analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak in this Printers Market Research Analysis Report.
In the ever-evolving landscape of the Printers Market Size Analysis Growth Report, a diverse array of products caters to distinct needs. All-in-One Printers offer versatile solutions, while Commercial Printers target business requirements, and Office Printers ensure professional settings are equipped. Home Printers address individual users, and the realm of Digital Printers and Wide Format Printers plays a crucial role in the expansive printing industry. The advent of Mobile Printing and Cloud-based Computing has revolutionized accessibility. Inkjet Printing, with options like Solvent, Water-based, UV-based, and LED Inks, showcases continuous innovation. The market's shift from traditional Analog Printing to Digital Printing is accompanied by a growing emphasis on eco-friendly practices. Brother Industries Limited, a key player, contributes to this evolution, offering a range that includes the specialized Dot Matrix Printer Segment for specific industrial needs.
Additionally in this Printers Market Forecast Report, from Color Printing and Packaging Printing to Entry Products such as A4 printers, the industry is marked by ongoing Innovation in technology and services. The significance of factors like Ink Cost, Individual Users, and Eco-friendly Practices underscores the dynamic nature of the market. As the industry caters to diverse needs, from POS Terminals and Cash Registers to ATMs, and serves End Users across various sectors, including Industrial Setups, it reflects the continual evolution of printing technologies. The market is experiencing significant growth, driven by various factors. Inkjet printers, dot matrix printers, and 3D printers cater to a wide range of users, including educational institutions, residential users, and commercial users.
In this Printers Market Forecast Report, we can see the shift towards remote work, the demand for printers has increased, especially wireless printers equipped with Bluetooth technology. Textile printers and medical 3D printers are gaining popularity for specialized applications. Managed print services (MPS) are in demand for commercial printing needs, while color laser printers are preferred for high-quality prints in commercial and residential settings. Post-pandemic, there's a renewed focus on durability and reliability, with printers like LED printer and thermal printer gaining traction. Impact printers and non-impact printers continue to serve diverse printing needs, from business forms to newsletters, manuals, and carbon copies, available at shopping outlets worldwide. In the market, the software manages printer head and ink ribbon functions.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in USD Billion for the period 2024 to 2028, as well as historical data from 2018 to 2023 for the following segments.
Printers Market Scope |
|
Report Coverage |
Details |
Page number |
177 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.46% |
Market Growth 2024-2028 |
USD 10.65 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.32 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 52% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Bixolon Co. Ltd., Brady Corp., Brother Industries Ltd., Canon Inc., Citizen Systems Europe GmbH, Dell Technologies Inc., Fujitsu Ltd., Honeywell International Inc., HP Inc., Konica Minolta Inc., Lenovo Group Ltd., Lexmark International Inc., Ninestar Co. Ltd., Oki Electric Industry Co. Ltd., Panasonic Holdings Corp., Redington India Ltd., Ricoh Co. Ltd., Riso Kagaku Corp, Seiko Epson Corp., Sharp Corp., Toshiba Corp., Xerox Holdings Corp., Zebra Technologies Corp., and KYOCERA Corp. |
Market dynamics |
Printers Market Analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our Printers Market Analysis Size Report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this Printers Market Analysis Size Report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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