Report ID: UCMIG20D2038 | Region: Global | Published Date: August, 2022 | Pages: 165 | Tables: Figures:Pressure Sensor Market
Report ID: SQSG20D2020 | Region: Global | Published Date: August, 2022 | Pages: 157 | Tables: 67 | Figures: 63
Global printer market was valued at USD 43.55 billion in 2021, and it is expected to reach a value of USD 57.42 billion by 2028, at a CAGR of more than 5.2% over the forecast period (2022–2028).
The printer is an electronic tool used to print text and images from computers onto various types of paper or printing media. There are many different ways to connect printers to computers, such as using a dedicated data cable like USB, a short-range radio like Bluetooth, a local area network using cables (like Ethernet) or radio (like WiFi), or using a memory card or other portable data storage device without a computer. Other than line printers, the majority of printers accept control characters or special character sequences to control various printer functionalities. According to studies, 94.36 million hardcopy peripheral units, such as printers, copiers, and multifunctional systems, were shipped globally in 2020. While printers are now primarily used in computing and information technology, 3D printing for industrial uses has developed recently.
Increasing demand in corporate sector is promoting market growth. Due to applications that put the cost effectiveness of the printer ahead of print quality, dot-matrix technology is expected to see a significant increase in demand. The market is divided up based on end users into the business and corporate, educational, printing, and media sectors, as well as the consumer and public sectors. Over the forecast period, growing benefits such as the ability to print on large format digital printers and the high quality of images due to improved sharpness and colour intensity will boost industry size. The printing industry uses large format printers extensively, which will drive demand during the forecast period. But over the forecast period, high equipment costs are expected to limit industry growth.
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Global printer market is segmented based on the technology type, end use and region. Based on technology type, the market is segmented into Inkjet printer, laser printer, LED printer, and others. Based on end-user, the market is segmented into residential, commercial, educational institutions, enterprises, government, and others. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Technology Type
Based on technology type, the market is segmented into inkjet printer, laser printer, led printer, and others. The segment of Inkjet printers acquired larger market share. Inkjet printers are excellent for printing graphics, colour text, and pictures since they print images using ink. They are typically used as backup printers because they are not as effective for printing black and white text and for printing colour text (they produce pages more slowly and with lower-quality black and white text than laser printers) (they produce pages slower and with lower-quality black and white text than laser printers). Inkjet printers can cost four to five times as much per page as laser printers, depending on the amount of ink used.
Analysis by End Use
Based on End-User, the market is segmented into Residential, Commercial, Educational Institutions, Enterprises, Government, and Others. The commercial segment held the larger market share owing to the rising use of Inkjet Printers for commercial purposes. Due to the increased use of these printers to print changeable data, such as QR codes and barcodes, for attaining anti-counterfeiting traceability and strengthening the brand's offline and online interactions with customers the commercial segment is growing at a higher rate. In educational sector the use of 3D printers is highly popularized owing to its benefits thus facilitating the growth of segment. The use of 3D printing in education helps students and teachers learn more effectively, enhance their abilities, and become more interested in the subject matter. Additionally, 3D printing encourages increased cooperation and creativity in problem-solving.
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Asia Pacific dominated the global market in 2021. Given the existence of numerous major market players in Asia-Pacific, the demand for printers is increasing. In addition to being a domestic market for businesses like Canon Inc., Seiko Epson Corporation, Ricoh Co., Ltd, Fujifilm Holdings Corporation, Brother Industries Ltd, etc., Japan is home to many of these market participants.
Due to limitations in customer enterprises, printing hardware sales in the region decreased, which also affected the sales of related consumables. Due to the growing popularity of working and studying remotely in nations like China and Japan as well as the market recovery in some emerging nations for remote working and education, market vendors have seen an increase in inkjet printer sales. End customers in the region are also embracing new technologies for their printing needs. Additionally, market providers are concentrating on expanding their presence in developing nations like India. For instance, Replika Press Pvt. Ltd. installed the VarioPrint i300, a B3 sheet-fed inkjet colour digital printer, according to a September 2020 announcement from Canon India. The sophisticated inkjet technology was first installed by Replika Press, a company in India.
Additionally, Pantum, a developer and producer of laser printers and printing solutions, announced the introduction of the Elite Series printer in the Indian market in January 2021, which includes the colour laser printer model and A4 laser printer. Commercial and promotional printing, including calendars, diaries, brochures, catalogues, etc., has been negatively impacted by the widespread adoption of digital printing by businesses. As an illustration, the Life Insurance Company (LIC) stopped printing diaries in 2020, and numerous other government agencies and businesses did the same.
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During the forecast period, the digitization of businesses will pose a significant challenge to the expansion of the global printer market share. Businesses use online platforms to share information and advertise their goods and services. Instead of using printed materials, companies are now using electronic versions of documents like e-brochures, e-catalogs, e-annual reports, and e-manuals. The adoption of various digital channels by businesses to market their goods and services and disseminate important information is being fueled by the growing number of Internet users, the increased adoption of smartphones, and advancements in communication network infrastructure. The expansion of the global printer market has also been impacted by the emergence of cloud-based storage options like Dropbox and Google Drive.
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The global printer market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Top Players in the Global Printer Market
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global printer market analysis, in terms of technology type, the Inkjet printers segment acquired larger market share due to their multifaceted working and efficiency of usage. In terms of end use, the commercial segment held the larger market share owing to the rising use of Inkjet Printers for commercial purposes. Due to the increased use of these printers to print changeable data, such as QR codes and barcodes, for attaining anti-counterfeiting traceability and strengthening the brand's offline and online interactions with customers the commercial segment is growing at a higher rate.
|Market size value in 2021||USD 43.55 billion|
|Market size value in 2028||USD 57.42 billion|
|Growth Rate||more than 5.2%|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
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For the Global Printer Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Printer Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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