According to the latest report by IMARC Group, titled “Printer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global printer market size reached US$ 44.82 Billion in 2021. A printer re-locates digital information from an input device, such as a computer, into a hard copy by converting it to a physical medium. Aside from being convenient and reliable, it provides customizable results and high-quality output while being easy to use for scanning and making multiple copies of documents. The maintenance cartridge on some models can be replaced by the user for maximum uptime. On the other hand, the ink refill mechanism features a drip-free, hands-free refilling process. Furthermore, eco-friendly printing practices are gaining traction in many end-user sectors as vendors are increasingly seeking to recycle, reuse, and reduce resources.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Printer Market Trends:
The global market is majorly driven by the rapid utilization of printers for printing business presentations and professional data, which is resulting in a higher product uptake across the commercial sector. In line with this, the increasing demand for large format printers for printing visual campaigns, such as graphic-rich posters and banner advertisements with high-quality images, in the marketing sector is also fueling the market. Additionally, continual technological advancements in printing, such as cloud-based printing services and multi-functional device printers, are creating a positive market outlook. The market is further propelled by the growing number of small and medium-sized enterprises (SMEs) across the globe. Some of the other factors contributing to the market include burgeoning e-commerce platforms, mergers and acquisitions (M&A) between key players, significant growth in the smart packaging industry, and extensive research and development (R&D) activities. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 61.9 Billion by 2027, exhibiting a CAGR of 5.20% during 2022-2027.
- Based on the printer type, the market has been segmented into multi-functional and standalone.
- On the basis of the technology type, the market has been divided into dot matrix printer, inkjet printer, LED printer, thermal printer, and laser printer.
- Based on the printer interface, the market has been categorized into wired and wireless.
- On the basis of the end user, the market has been classified into residential, commercial, educational institutions, enterprises, government, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Brother Industries Ltd., Canon Inc., FUJIFILM Corporation, Fujitsu Limited, Hitachi Ltd., Honeywell International Inc., HP Inc., Konica Minolta Inc., KYOCERA Corporation, Panasonic Corporation, Ricoh Company Ltd., Roland DG Corporation, Seiko Epson Corporation, Toshiba Corporation, and Xerox Corporation.
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