The market for Inkjet Printers Market is expected to reach US$ 45.18 Bn by 2027
Globally, the inkjet printers market is expected to grow with a CAGR of more than 7.2% during the forecast period from 2019 to 2027, starting from US$ 45.18 Bn in 2018. The process of inkjet printing is growing at a rapid pace across the printing and packaging industries. This inkjet printing technique is commonly used on home and office desktop printers. Initially, this technique was used for coding and marking applications; however, with time, its applications increased, and it is now being adopted as an alternative to traditional printing processes. Globally, the demand for digital printing is having a significant impact on various industries, as the business models of these industries are changing in many ways. Thus, numerous print providers are now using inkjet printing in innovative ways.
Furthermore, the adoption of inkjet printers is growing among photographers and magazine manufacturers. The multifunctional features and unique capability of inkjet printers to provide proper color combinations have enhanced their utilization in these creative fields, which ultimately has fuelled the size of the inkjet printer market in the global marketplace. Moreover, with technological advancements, the integration of the latest tools and technologies has made inkjet printers more innovative and user-friendly. These and many other factors are driving the growth of the inkjet printer market across the globe. However, the high cost of the printer and the cartridges compared to other traditional machinery and accessories is likely to restrain the growth of this market during the forecast period.
Based on type, the multifunctional printers segment is expected to hold the largest market share in the global inkjet printers market. The various advantages of multifunctional inkjet printers over other printers are the primary factor that increases their adoption across various industries. These printers can conduct a variety of activities such as print, scanning, copying, faxing, etc., which highlights their versatility. Furthermore, these devices can be connected to various USB, Bluetooth, or wireless tools to take control and processing easier. Based on the increasing demand for these printers, numerous companies are developing and launching new and innovative multifunctional inkjet printers. These new products offer a variety of alternatives for the user to adopt, which fuels the growth of this market.
North America dominates the inkjet printer market, holding the largest market share of more than 30% of the total revenue generated worldwide. The North American inkjet printers market was led by the U.S., as a large number of players operating in the global inkjet printers market are based in the U.S. Also, penetration of advanced technologies is high in the North American region, which ultimately fuels the adoption of inkjet printers.
Asia-Pacific is expected to grow at the highest CAGR during the forecast period. Asia-Pacific offers significant opportunities for manufacturers of inkjet printers. The manufacturing costs and labor costs are low in this region, which makes it an ideal location to set up production plants for bulk production. Moreover, increasing penetration of advanced technology and growing industrialization are driving the demand for innovative tools such as inkjet printers in this region.
Some of the prominent players operating in the inkjet printer market include Canon Inc., HP Inc., Brother Industries Ltd., Xerox Corporation, Seiko Epson Corporation, Hitachi Industrial Equipment Systems Co., Ltd., Domino Printing Sciences plc, Lexmark International Inc., Videojet Technologies, Inc., and Inkjet, Inc., among others.
This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2019 to 2027.
The inkjet printer market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global inkjet printer market based on type, technology, end-user, and geography. Key segments covered in the report are as follows:
The market for Inkjet Printers Market is expected to reach US$ 45.18 Bn by 2027
The Inkjet Printers Market is expected to see significant CAGR growth over the coming years, at 7.2%.
The report is forecasted from 2019-2027.
The base year of this report is 2018.
Canon Inc., HP Inc., Brother Industries Ltd., Xerox Corporation, Seiko Epson Corporation, Hitachi Industrial Equipment Systems Co., Ltd., Domino Printing Sciences plc are some of the major players in the global market.