Printers Market - Forecast(2024 - 2030)
Printers Market Overview:
Printers market is going through a complex situation wherein a gamut of companies are investing in the technology-based startups that are largely supporting the printers market, whereas, on the other hand, the market size is dwarfed by the digitalization and digitization in various sectors due to which many companies are shunning from the usage of printers. This disruption is well-documented in a printers market research report compiled by IndustryARC’s market analyst, according to whom the printers market size was measured to be over $100 billion as of 2018. Furthermore, the analyst has estimated the demand for printers to observe a CAGR between -3% and -5% during the forecast period of 2019 to 2025. Even though there is a discernible decline in demand, the application in the textile industry will chiefly propel the printers market.
China has observed rapid growth in the digital textile printing industry over the years due to the increase in the number of textile yarns in the country. Furthermore, other countries such as India, Malaysia, Indonesia, and the Philippines have observed a noticeable growth in the textile industry which utilizes digital printers for branding due to which APAC held the maximum regional printers market share of 30% to 35% in 2018.
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Printers Market Outlook:
Printers are devices that replicate the images, graphics, and written texts on paper. There are various types of printers that include dot-matrix printers, line printers, daisy-wheel printers, laser & led printers, and mono printers.?
Printers have applications in many industries that range from IT, chemical, publishing, branding, and others. However, owing to their heavy usage in the textile industry, their key application is in the same, according to the research by the market analyst. Furthermore, the analyst estimates the application CAGR of printers in the textile sector to be healthy 5% to 6%.?
“The growing textile industry attributable to the increasing demand for the textile goods coupled with the fact that printers are imperative for branding is making the industry a sustainable marketplace for the vendors in the printers market,” remarks the analyst in the printers market research report.?
Printers Market Growth Drivers:
According to a report by the National Conference of Standard Laboratories International, the 3-D printers market will be at the helm of the 4th industrial revolution. This majorly attributes to the fact that 3-D printers have a myriad of advantages such as 3-D scanning, print optimization, and digital simulation software. Furthermore, 3-D printing will disrupt $4 to $6 trillion of the current global economy in the next 10 years[1], which will create opportunities for the vendors in the printers market.
The growing IT industry and the fact that branding hasn’t entirely moved to the digital arena are factors responsible for the sustenance of the printers market. Even though the e-Books have been dominating the book market with readers preferring gadgets to read on, instead of printed copies, some parts of the world still observe a rise in the sales of printed books. According to The Guardian, the sales of books were valued to be $7.46 billion in 2017[2], which largely sustained the demand influx in the printers market. Furthermore, the packaging industry is on the rise owing to the growth of E-Commerce and the food and beverages industry, which is further bolstering the demand for printers.?
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Printers Market Trends:
There are multiple on-going innovations in the printers market that are poised to disrupt the industry. The future will observe the emergence of mobile-ready and cloud-ready printers which will gain a wide spectrum of target customers.?
The field of automation is making strides which will also influence the printers market in ways more than one. It will enable remote administration and personalization that will attract a lot of customers.?
Printers Market Challenges:?
As mentioned above, the major challenge in the printers market is the reduction in the market size due to digitalization and digitization across various sectors. However, printers are still an indispensable facility in some industries, and the innovations will lead to new horizons in the printers market.??
Printers Market Key Players Perspective:?
The key players crusading for the printers market share are HP, Seiko Epson, Ricoh, Canon, Samsung, Xerox, Brother, Hitachi, Konica Minolta, Durst, Zebra Technologies, and Lexmark.?
Printers Market Research Scope:?
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the printers market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of printers market, and their specific applications in chemical, education, medical, office solutions, interior designing, and others.
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Printers Market Report: Industry Coverage?
The report analyses the product demands by the type of printers that include impact printers, non-impact printers, and others. The report also documents the printers market by the method of production - offset, web based, gravure, flexo, and others.??
The printers market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include: