Printers Market to Surpass USD 11.76 Billion by 2026
The rising
trend of remote working, a growing number of photographers and significant
upsurge in home startups in developing markets such as India, China and Brazil to
drive the growth of the Global Printers Market.
According to
TechSci Research report, “Global Printers Market By Type (Single Functional, Multi-functional), By Technology (Laser, Inkjet, & Others), By Print Type (Image,
Painting, Pattern, and Others), By Application (Packaging,
Advertising, Publishing and Others), By Region, Competition, Forecast &
Opportunities, 2016-2026”, the Global Printers
Market is forecast to grow at a rate of 3.71% to reach
USD11.76 billion by 2026. Growth in the market can be attributed
to the increasing trend of remote working and online education systems in the
post COVID-19 pandemic environment. In addition to this, the growth can be
attributed to the rising number of photographers, which has increased the
demand for portable color printers. Also, there has been a significant increase
in the number of home startups and local businesses which is expected to
increase opportunities for the Global Printers Market
in the forecast period.
The Global Printers Market is segmented
based on type, technology, print type, application and region. In terms of product
type, the market can be bifurcated into single functional and multi-functional.
Out of these, the multifunctional segment registered a market share of 53.08%
in 2020 due to availability of additional features like copier, scanner and
email in printers for a comparable price.
Based on technology, the market is
segmented into laser, inkjet, & others (solid-ink, thermal, impact, 3D
printers, etc.). The inkjet printers had a share of 42.41% in 2020 owning to their
lower cost. But inkjet printers are expected to show monotonous growth in the
forecast period due to their high cost per page and the decreasing price of
laser printers.
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On the basis of print type, the market
is divided into image, painting and patterns. The Image print type held the
largest market share of 29.93% in 2020 due to its widespread usage by businesses
and educational institutions. Moreover, with the rising growth of the packaging
industry the pattern print type is also expected to show significant growth in
the forecast period.
Based on the application, the market is
segmented into packaging, advertising and publishing. The packaging market
dominated the market in 2020 with 34.71% market share owing to changing
lifestyles and an increase in the buying power of consumers. Moreover, the
rising trend of multi-layer and decorative packaging is anticipated further
lead to the growth of the segment.
In the Global
Printers Market, Asia-Pacific was the largest contributor with 37% of market
shares in 2020. China is expected to be the largest contributing country in the
region for the forecast period, followed by India, Japan and South Korea. China’s
contribution can be attributed to its high-speed growth which has been
stimulated by the continuous increase of industrial output, imports and
exports, consumer consumption and capital investment.
Hewlett-Packard Enterprise
Company, Canon Inc., Brother Industries Ltd., Seiko Epson Corporation, Kyocera
Corporation, Konica Minolta Inc., Lexmark International Inc., Ricoh Company Ltd.,
Sharp Corporation, Xerox Holdings Corporation, etc. are among the leading
players operating in the Global Printers Market. Companies operating in the market
are using strategies such as partnerships and collaborations to boost their
shares in the Global Printers Market. Significant players in the market are
concentrating on accomplishing ideal operational expenses, upgrading the system
efficiency, enhancing precision in responses, boosting productivity with high
funding in R&D, and merging with small players to support in the
competitive Global Printers Market.
“Online sales
channel is the emerging distribution channel in the Global Printers Market. The
advent of online sales channels has allowed consumers to easily surf through
catalogs without doing the rounds of stores thus making shopping extremely
convenient. Moreover, rising digital and social media penetration, merged with a
rising number of photographers and entrepreneurs is certainly going to increase
the demand for the latest trends in the product offerings. The new model of
remote working and online education in the post-pandemic era is also expected
to increase the demand for portable-colored printers.”, said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
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“Global Printers Market By Type (Single Functional, Multi-functional), By Technology
(Laser, Inkjet, & Others), By Print Type (Image, Painting, Pattern, and
Others), By Application (Packaging, Advertising, Publishing and Others)” By Region, Competition,
Forecast & Opportunities, 2016-2026” has
evaluated the future growth potential of portable printers in the Global
Printers Market and
provides statistics and information on market structure, size, share and future
growth. The report is intended to provide cutting-edge market intelligence and
help decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities present in Global Printers Market.”
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