Printer Market Size, Share, Growth Analysis, By Technology Type(Inkjet Printer, Laser Printer, LED Printer, Others), By End Use(Residential, Commercial, Educational Institutions, Enterprises), By Region - Industry Forecast 2024-2031

Printer Market size was valued at USD 45.21 billion in 2019 and is poised to grow from USD 47.5 billion in 2023 to USD 74.13 billion by 2031, growing at a CAGR of 5.07% in the forecast period (2024-2031).

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 2019. 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.

US Printer Market is poised to grow at a sustainable CAGR for the next forecast year.