Printer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Printer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview:

The global printer market size reached US$ 47.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 64.7 Billion by 2028, exhibiting a growth rate (CAGR) of 5.07% during 2023-2028.

A printer is an external hardware output device that converts electronic data, such as text and images, from a computer or other device into a hard copy. It is efficient and reliable and offers customizable results, high-quality output and easy accessibility. As a result, it finds extensive applications in corporate, media and entertainment (M&E), education, and public sectors. Besides this, it is utilized in archaeology, aerospace engineering, information systems, dentistry and biotechnology.

Printer Market Trends:
At present, the growing demand for high-quality pictures represents one of the key factors driving the market. The improving educational facilities on account of the expanding governmental funds in numerous countries is resulting in the rising sales of printers for printing learning and teaching materials. Moreover, there is an increase in the usage of large format printers for printing professional data and business presentations. This, along with the expanding printing industry around the world, is contributing to the growth of the market. Additionally, the escalating demand for printers to print important documents, such as accounting files, employee information, and company policies, in the corporate sector is also positively influencing the market. Apart from this, key players are focusing on collaborations and mergers and acquisitions (M&A) to increase their overall sales and market share. They are also integrating advanced technologies to launch drip-free refilling mechanisms and affordable product variants with minimized printing interruptions. Furthermore, they are designing wireless printers on account of the considerably improving network infrastructure. Some of the other factors bolstering the growth of the market are technological advancements, increasing number of small and medium-sized enterprises, growing e-commerce platforms and the burgeoning packing industry.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global printer market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on printer type, technology type, printer interface and end user.

Breakup by Printer Type:

Multi-Functional
Standalone

Multi-functional represents one of the commonly used printer types as it reduces costs, saves space and assists in better document management.

Breakup by Technology Type:

Dot Matrix Printer
Inkjet Printer
LED Printer
Thermal Printer
Laser Printer

Inkjet printer accounts for the majority of the total market share on account of its portability, low cost and high-quality output.

Breakup by Printer Interface:

Wired
Wireless

On the basis of the printer interface, the market has been bifurcated into wire and wireless variants.

Breakup by End User:

Residential
Commercial
Educational Institutions
Enterprises
Government
Others

Printers find extensive application in the commercial sector due to the growing advertising needs of organizations worldwide.

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

North America currently enjoys the leading position in the market, which can be accredited to the adoption of novel printing technologies in the region.

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Key Questions Answered in This Report

1. How big is the printer market?
2. What is the printer market forecast?
3. What are the key factors driving the global printer market?
4. What has been the impact of COVID-19 on the global printer market?
5. What is the breakup of the global printer market based on the printer type?
6. What is the breakup of the global printer market based on the technology type?
7. What is the breakup of the global printer market based on the end user?
8. What are the key regions in the global printer market?
9. Who are the key players/companies in the global printer market?