NEW
YORK, July 22, 2024 /PRNewswire/ -- The
global printers market size is estimated to grow by
USD 10.65 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a
CAGR of 3.46% during the forecast period. Rising
demand for printers from smes is driving market
growth, with a trend towards increasing adoption of 3d
technology in printers. However, increased digitization in
enterprises poses a challenge. Key market players include
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..
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Technology (Laser,
Inkjet, and Others), Type (Multifunction printers and Single
function printers), and Geography (APAC, Europe, North America,
South America, and Middle East and Africa)
|
Region
Covered
|
APAC, Europe, North
America, South America, and Middle East and Africa
|
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.
|
Key Market Trends Fueling Growth
The global printer market is experiencing a notable trend with
the increasing adoption of 3D printing technology. Initially used
for prototyping, 3D printing has evolved into a mainstream
manufacturing tool, providing unmatched versatility and
customization capabilities. Industries like healthcare, aerospace,
automotive, and architecture are embracing this technology for
producing patient-specific medical implants, lightweight aircraft
parts, complex automobile components, and intricate architectural
models. The consumer market is also witnessing the emergence of
low-cost desktop 3D printers, enabling individuals and small
businesses to create custom products. Advancements in material
sciences and 3D printing technology are driving further expansion
across various application segments, fostering innovation,
efficiency, and customization. This trend is anticipated to
significantly boost the growth of the global printer market during
the forecast period.
The global printers market is witnessing notable trends in ink
cost, technology advancements, and functional versatility.
Traditional technologies like dot matrix printers using ink-soaked
cloth ribbons are giving way to digital printing methods such as
inkjet, laser, and LED. Multi-functional printers catering to home
and business needs are increasingly popular. Companies like TVS
Electronics offer a range of multifunction printing devices with
digital features and security enhancements. Impact printers
continue to serve industries requiring hardcopy records, including
POS terminals, cash registers, and ATMs. Line printers with control
characters and special character sequences remain essential for
large-scale data processing. The market growth is driven by the
increasing demand for hardcopy peripheral units for text and image
output from computers. Connectivity options like data cable, USB,
short-range radio (Bluetooth), local area network (LAN), Ethernet,
WiFi, and memory card readers expand the printers' reach.
Environmental concerns are influencing the market, with some
manufacturers focusing on reducing their carbon footprint by using
ocean-bound plastic in their products. The residential printer
segment is growing, driven by the need for affordable and
convenient printing solutions.
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Market Challenges
- The global printer market is expected to experience hindrance
in growth due to the increasing digitization trend across various
industries. With the rise of digital channels for advertising and
sharing information, the demand for printed materials is
decreasing. Enterprises are opting for electronic versions of
documents such as e-brochures, e-catalogs, and e-annual reports
instead of hard copies. Digitization has led to the emergence of
cloud-based storage solutions, reducing the need for carrying and
printing documents. Furthermore, mobile-based document scanners
have also reduced the demand for scanner devices and multipurpose
printers. Companies like Family Service Toronto and leading life
insurance companies in India have
digitized their paper documents to improve efficiency and
productivity, reducing the dependency on printed documents. The
pace of digitization is expected to accelerate in the forecast
period, with enterprises adopting enterprise content management
solutions and converting hard copies to digital format. This shift
towards digitization will negatively impact the growth of the
global printer market.
- The printers market faces several challenges in today's
business environment. Automation is a key trend, with security
being a top concern. Security experts warn of vulnerabilities in
printer interfaces, making it essential for manufacturers to
prioritize security. Environmental sustainability is another
challenge, with UV-cured inks and thermal printing gaining
popularity due to their eco-friendliness. Technology type is
another consideration, with thermal printing offering wired and
wireless options, while MFPs offer more features like network
control. Monochrome and color printers cater to different needs,
with enterprise printers and residential printers serving distinct
markets. Mobile printing and cloud-based computing are transforming
the industry, requiring software compatibility and ecosystems of
inks. Inkjet printing offers various ink types, including solvent,
water-based, and UV-based inks, while LED inks are gaining
traction. Standalone printers and single-use devices have their
place, but the market is shifting towards more advanced technology.
Staying updated on these trends and addressing these challenges is
crucial for success in the printers market.
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challenges - Download a Sample Report
Segment Overview
This printers market report extensively covers market
segmentation by
- Technology
- 1.1 Laser
- 1.2 Inkjet
- 1.3 Others
- Type
- 2.1 Multifunction printers
- 2.2 Single function printers
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Laser- Laser printing is a popular non-impact
printing technology that utilizes electrophotography or
electrostatic charges for image production. In this process, a
laser beam is used to induce charges on a drum or belt, which then
attracts toner particles and transfers them onto paper. Laser
printing offers several advantages over other technologies, such as
faster printing speeds, higher precision, and lower running costs
due to the use of dry toner. Laser printers are commonly used in
offices for their accuracy, speed, and ability to handle a wide
range of applications, including variable data and wide-format
printing. Manufacturers like Ninestar Co. Ltd. Have expanded their
laser printer offerings in response to growing enterprise demand.
For instance, in January 2021,
Ninestar launched its Elite Series, featuring six models. Key
factors driving the adoption of laser printing technology include
the emergence of compact laser printers, increasing demand for A4
and A3 laser multifunction printers from enterprises, and the
declining average selling price of laser printers. However, the
growth of this segment may be hindered by the emergence of ink tank
printers. Despite this, the demand for laser printing technology is
expected to remain steady during the forecast period due to its
benefits for businesses.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
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reports
The global 3D printer market is experiencing significant growth,
driven by advancements in technology and increasing adoption across
various industries. In parallel, the global commercial printing
market continues to expand, with digital printing leading the
charge. Additionally, the global metal material-based 3D printing
market is booming, fueled by demand from aerospace, automotive, and
healthcare sectors. These markets are collectively transforming
manufacturing processes, enhancing efficiency, and enabling complex
designs that were previously unattainable. As innovation
progresses, the future of these printing markets looks increasingly
promising.
Research Analysis
The printing market encompasses a wide range of technologies and
products, from printers for text and images on paper to mobile
printing solutions. Color printing has become the norm, with
advancements in inkjet technology leading the way. Packaging
printing is another significant segment, utilizing various output
technologies like solvent inks for large-format applications.
Entry-level printers, such as A4 models, cater to individual and
small business needs. Cloud-based computing and software play
essential roles in the ecosystem, enabling seamless printing from
computers, devices, and even mobile phones. Hardware components
include printers, paper, and various connectivity options like data
cables, USB, and short-range radio technologies such as Bluetooth.
The printer functions as an electronic tool, converting electronic
data into tangible outputs like text, images, and documents on
paper.
Market Research Overview
The printing market encompasses various types of printers,
including mobile, color, packaging, and entry-level printers.
Printers utilize different output technologies such as inkjet,
solvent, water-based, UV-based, and LED inks. Ink cost is a
significant factor in the market, with digital printing and
cloud-based computing offering cost-effective solutions. The
ecosystem of inks includes a range of colors like cyan, magenta,
yellow, and black. Analog printing technologies like dot matrix and
impact printers are being replaced by digital printing, which
offers faster turnaround times and greater versatility.
Multi-functional printers and managed print services are becoming
increasingly popular in both residential and commercial settings.
Printers can be connected to computers and other devices via data
cables, USB, short-range radio, Bluetooth, local area network,
Ethernet, WiFi, and memory cards. Line printers and copiers are
used in commercial and enterprise environments, while home printers
cater to individual consumers. The global printer market is
segmented into inkjet, laser, and LED printers, with applications
in residential, commercial, educational institutions, and
enterprises. Environmental impact is a growing concern, with some
companies exploring the use of ocean-bound plastic in their
products. Printers are essential electronic tools used to convert
electronic data into hardcopy outputs, enabling the production of
text, images, and other documents on paper or other printing media.
They are an essential computer peripheral and office equipment,
with digital features and security features becoming increasingly
important.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Technology
-
- Type
-
- Multifunction Printers
- Single Function Printers
- Geography
-
- APAC
- Europe
- North America
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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