Global Printer Market by Application
The Global Printer market is segmented by Application into Residential, Commercial, Educational Institutions, Enterprises, Government and Others.
The commercial segment held the largest market share in the global printer market by application segment in 2022 owing to the launches of new multi-functional device printers.
Many offices are using multifunctional printers in offices as the multi-functional printer is able to perform a variety of other tasks such as scanning, photocopying, and telefax.
Many offices use laser printers and inkjet printers as these printers are easy to use and provide top-quality printing with low response time.
Global Printer Market by Geography
The Global Printer Market is segmented by geography into North America, Europe, Asia- pacific and LAMEA.
Asia Pacific is expected to dominate the global printer market during the forecast period owing to the presence of a greater number of manufacturers in the region.
Many leading printer companies such as Canon Inc., Seiko Epson Corporation, Ricoh Co., Ltd, Konica Minolta Inc., Brother Industries Ltd, Kyocera Corp., etc. are all headquartered in Japan.
In February 2022, the Indian Government released a strategy for 3D printing, which is likely to help India to become the global hub for deployment and designing in 3D printing.
Competition Scenario in Global Printer Market
The Global Printer Market consists of ~100 players including globally diversified players, regional players as well as a large number of country-niche players who have their niche in printers, scanners, photocopiers, and fax machines.
Large global players constitute ~15% of the market in terms of the number of competitors, while regional players hold the second largest share. Some of the major players in the market include Brother Industries Ltd., Canon Inc., HP Development Company, L.P, Konica Minolta Inc., Kyocera Corp., Lexmark International Inc., Ricoh Co. Ltd., Seiko Epson Corp., Sharp Corp., Xerox Corp and among others.
What is the Expected Future Outlook for the Overall Global Printer Market Across the globe?
The Global Printer Market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global Printer market is driven by advancements in cloud-based printing services, new product launches, and an increase in the numbers of small and medium-sized enterprises. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.
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With the increasing acquisition and emergence of new products, the Global Printer market is changing rapidly. For instance, IIn October 2022, Epson America, Inc. launched the modern wireless receipt printers as “Mobilink wireless receipt printers” which is small, lightweight, and easy to carry and can be used for various point of sales such as mobile transactions, direct store delivery, transportation and more.
In February 2022, Konica Minolta Inc. launched its new printer “AccurioJet KM-1e High Definition (HD) model” which is an upgrade to “AccurioJet KM-1e LED” inkjet printer, the HD version is able to produce skin tones, uniformity of solid backgrounds and reproduction of textures in the printed document that will provide the superior printing quality as compare to its competitors.
In March 2021, Xerox Corporation Secured the first position for the worldwide managed print services (MPS) market (MPS are services provided by an external entity for managing the company document output) in the Quocirca worldwide market landscape report (Quocirca is the leading print industry's source for market insight and advisory services).
The Global Printer Market is expected to continue its growth with a CAGR of ~6% during the forecast period. This is due to advancements in technologies like cloud-based printing and laser Printing as well increase in the number of Small and medium-sized enterprises. Though the market consists of ~100 participants, few regional players control the dominant share and regional players hold a significant share.
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By Printer Type
Multi-Functional
Standalone
By Technology
Dot Matrix Printer
Inkjet Printer
LED Printer
Thermal Printer
Laser Printer
By Interface
Wired
Wireless
By Output Type
Color
Monochrome
By Application
Residential
Commercial
Educational Institutions
Enterprises
Government
Others
By Region
North America (USA, Canada, Mexico)
Europe (Germany, UK, Italy, France, Spain)
Asia Pacific (China, India, Japan, South Korea, Indonesia)
LAMEA (Latin America, Middle East, Africa)
Key Companies
Brother Industries Ltd.
Canon Inc.
HP Development Company, L.P
Konica Minolta Inc.
Kyocera Corp.
Lexmark International Inc.
Ricoh Co. Ltd.
Seiko Epson Corp.
Sharp Corp.
Xerox Corp.
For more insights on the market intelligence, refer to below link: –
Global Printer Market Size, Segments, Outlook, and Revenue Forecast 2022-2028: Ken Research
