Global Printer Market is segmented by Printer Type, Technology, Interface, Output Type, Application, and Region: Ken Research

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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

Global Printer Market Is Expected to Witness A CAGR Of ~6%: Ken Research

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What is the Size of Global Printer Industry?

Global Printer market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F.

The Printer Market is largely driven by advancements in cloud-based printing services, new product launches, and an increase in the numbers of small and medium-sized enterprises.

The R&D investment in technologies like cloud-based printing, laser printing, and 3D Printing is likely to propel the market growth during the forecast period (2022­–2028). For Instance, In April 2021, HP Inc. launched its smartest printing solution called HP+ for small and medium-sized enterprises (SMEs). the HP+ is connected to a smart app and a cloud-based system i.e. users can virtually print from any location. HP+ offers high security with enhanced productivity and sustainability.

The adoption of digitization in Government offices, Banks and Educational Institutes (digitization is the process of converting any document into digital forms such as images, pdf, or Digi locker) acts as one of the major challenges faced by the Global Printer Market.

Furthermore, The COVID-19 pandemic affected the sales of commercial, educational institutes, and government office printers but residential printers have shown a rise in sales. This is due to the lockdown imposed by the government leading to the sudden closure of schools, offices, and government offices.

Global Printer Market by Printer Type

The Global Printer Market is segmented by Printer Type into Multi-Functional and Standalone.

The Multi-Functional Device (MFD) segment is expected to witness the fastest growth during the forecast period, owing to its ability to perform multiple tasks.

The Multi-Functional device (MFD) or Multi-Functional Printer is adopted over standalone due to its ability to perform a variety of other tasks rather than just printing such as photocopier, scanner, and fax machine.

Many small and medium-sized enterprises (SMEs) are now adopting MFD over standalone as it reduces the overall cost drastically.  Furthermore, manufacturing companies are now focusing on developing such multifunctional products.

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Global Printer Market by Technology

The Global Printer Market is segmented by Technology into Dot Matrix Printer, Inkjet Printer, LED Printer, Thermal Printer and Laser Printer.

The laser printer is expected to witness the fastest growth in the technology segment during the forecast period due to its high printing speed.

Laser printers perform at better speed as compared to other inkjet and LED printers because the laser beam in a laser printer can move fast which helps it to print at high speed.

Although laser printer is expensive as compared to inkjet printer their overall operational cost is significantly lower this is because laser printers melt the toner powder on the paper for printing purposes rather than using the costly cartridge that inkjet printer uses.

Global Printer Market by Interface

The Global Printer Market is segmented by Interface into Wired and Wireless.

The wired segment accounted for the major share in the interface segment in 2022 due to its less installation cost.

The wired segment accounts major share of the printer interface market as the installation cost of wired printers is significantly low as compared to wireless printers, as well as wired printers are much faster than wireless printers.

The wireless printer is less secure as compared to the wired printer, as an unauthorized user can use the printer if the Wi-Fi network is less secure.

Global Printer Market by Output Type

The Global Printer market is segmented by Output type into Color and Monochrome.

The monochrome segment held the largest market share in 2022 due to the low price of monochrome printing ink as compared to color ink.

Color printing ink is more expensive as compared to monochrome ink as during printing any color document the printer uses four-color cartridges at once, thus leading to the emptying of cartridges earlier.

While for monochrome, printing the printer uses a single cartridge at a time thus making it more efficient as compared to color ink.

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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 

Global Printer Market expected to witness a CAGR of ~6% during the forecast to 2022-2028: Ken Research

 A printer is an electronic device that is used to print any document in hardcopy format, which is often used in residential, commercial, educational institutes, enterprises, government offices, and more. With the launch of the latest multi-functional printers, the single printer device is now able to perform a variety of tasks which include printing, photostatic copies, scanning, and Fax/telefax which is highly cost-effective for the users.

According to Ken Research Analysis, the global printer market is expected to witness a CAGR of ~6% during the forecast period (2022-2028) and reach a market size of ~US$ 65 Bn by 2028 from ~US$ 45 Bn in 2022. The growth can be attributed to the advancements in cloud-based printing services, new product launches, and an increase in the numbers of small and medium-sized enterprises (SMEs).

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• The R&D investment in technologies like cloud-based printing, laser printing, and 3D Printing is likely to propel the market growth during the forecast period (2022­–2028).

• In April 2021, HP Inc. launched its smartest printing solution called HP+ for small and medium-sized enterprises (SMEs). the HP+ is connected to a smart app and a cloud-based system i.e. users can virtually print from any location. HP+ offers high security with enhanced productivity and sustainability.

• The adoption of digitization in Government offices, Banks and Educational Institutes (digitization is the process of converting any document into digital forms such as images, pdf, or Digi locker) acts as one of the major challenges faced by the Global Printer Market.

• The COVID-19 pandemic affected the sales of commercial, educational institutes, and government office printers but residential printers have shown a rise in sales. This is due to the lockdown imposed by the government leading to the sudden closure of schools, offices, and government offices.

Key Trends by Market Segment

By Printer Type:  The Multi-Functional Device (MFD) segment is expected to witness the fastest growth during the forecast period, owing to its ability to perform multiple tasks.

• The Multi-Functional device (MFD) or Multi-Functional Printer is adopted over standalone due to its ability to perform a variety of other tasks rather than just printing such as photocopier, scanner, and fax machine.

• Many small and medium-sized enterprises (SMEs) are now adopting MFD over standalone as it reduces the overall cost drastically. Furthermore, manufacturing companies are now focusing on developing such multifunctional products.

• In May 2022, Sharp Corporation launched the monochrome multifunction 3-in-1 solution printer that will act as a copying, printing, and scanning machine. The printer offers a print speed of 24 Pages per minute with a capacity of 1,850-pages and a response time of 6.4 seconds.

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By Technology: The laser printer is expected to witness the fastest growth in the technology segment during the forecast period due to its high printing speed.

• Laser printers perform at better speed as compared to other inkjet and LED printers because the laser beam in a laser printer can move fast which helps it to print at high speed.

• Although laser printer is expensive as compared to inkjet printer their overall operational cost is significantly lower this is because laser printers melt the toner powder on the paper for printing purposes rather than using the costly cartridge that inkjet printer uses. The release of small models in laser printers is one of the major reasons for driving its growth in the technology segment.

By Interface: The wired segment accounted for the major share in the interface segment in 2021 due to its less installation cost.

• The wired segment accounts major share of the printer interface market as the installation cost of wired printers is significantly low as compared to wireless printers,

• The wireless printer is less secure as compared to the wired printer, as an unauthorized user can use the printer if the Wi-Fi network is less secure.

By Output Type: The monochrome segment held the largest market share in 2021 due to the low price of monochrome printing ink as compared to color ink. 

• Color printing ink is more expensive as compared to monochrome ink as during printing any color document the printer uses four-color cartridges at once, thus leading to the emptying of cartridges earlier.

• While for monochrome, printing the printer uses a single cartridge at a time thus making it more efficient as compared to color ink.

By Application: The commercial segment held the largest market share in the global printer market by application segment in 2021 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.

By Region: 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.

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Competitive Landscape

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.

Recent Developments Related to Major Players

• In October 2022, Epson America, Inc. launched the modern wireless receipt printers as “Mobilinkwireless 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).

Conclusion

The Global Printer Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 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.

Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within maximum of 2 working weeks.

Market Taxonomy

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.

3 Key Insights on US$ 65 Bn Opportunity in Global Printer Market: Ken Research

                                                                                                                                                 Buy Now

Driven by Investments in R&D Technologies like Cloud-based printing and Laser printing, the Global Printer Market is forecasted to Cross ~$65 Bn by 2028 says Ken Research Study.

A printer is a device that is used to print any document in hardcopy format, there are different types of printers from multi-functional, standalone, laser, inkjet, thermal, led, dot matrix, and more, which provide output in color as well as the monochrome format and widely used in residential, commercial, educational institutes, enterprises, and government offices. 

 “Ken Research shares 3 key insights on this high opportunity market from its latest research study”.

1.   The Global Printer Market is witnessing Steady Growth during the Forecast Period Owing to an Increase in Investment in Cloud-Based Printing Technology

The Global Printer Market is forecasted to continue the steady growth that is witnessed since 2017, primarily driven by advancements in technologies like cloud-based printing. Cloud-based printing means users are able to print the document from any device at any place, as those devices and printers have to be connected to the internet.

Many companies like Brother Industries Ltd., Canon Inc., HP Development Company, L.P, Kyocera Corp., Lexmark International Inc., and more, are now offering cloud-based printing solutions as this reduces the response time and high cost which was associated while managing any server.

For instance, HP+ launched by HP Development Company in 2021 and Lexmark CPM (Cloud Print Management) launched in 2020 by Lexmark International Inc., are some of the leading cloud-based printing solutions available in the market.

According to Ken Research estimates, the Global Printer Market –valued at US$ 35 billion in 2017 and is estimated to be US$45 Bn in 2022 – is further expected to reach a market size of US$ 65 Bn opportunity by 2028.

2.   Increase in Small and Medium-Sized Enterprises (SMEs) and New Product Launches Are Driving the Market Growth

The increase in small and medium-sized enterprises (SMEs) and new product launches specifically for SMEs in printing technology such as Multifunctional device printers (those devices that can perform multiple tasks such as printing, photocopying, scanning, and telefaxing) are major growth drivers for the global printer market as these Multifunctional device printers are able to reduce the overall operational cost of printing operations significantly.

In printing technology, many SMEs are now going for Multifunctional printer devices (MFD) with laser printing technology rather than old dot matrix or inkjet printer as MFD laser printer offers low operational cost high printing speed, and better response time for handling printing command as compared to other printer technology.

3.   The Adoption of Digitization Is One of The Biggest Challenges That Is Hindering the Growth of The Global Printers Market.

Digitization is the process of converting and collecting documents or information into digital formats such as images, pdf, or Digi locker (Digi Locker is an Indian government service that provides a digital cloud-based account for authentic documents such as identity proof, driving license, and more).

The adoption of digitization in government offices, banks, and educational institutes is currently some of the biggest challenges faced by the global printer market. To deal with this problem many companies are now providing multi-functional printer devices, which can also act as a scanner, to scan hardcopy format document and convert it into softcopy.

For more information on the research report, refer to the below link:

Global Printer Market Size, Segments, Outlook, and Revenue Forecast 2022-2028: Ken Research

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