"Increasing demand for digital printing and technological advancements are fueling the Inkjet Printers Market growth"
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 industry. This inkjet printing technique is commonly used on home as well as office desktop printers. Initially this technique was used for coding and marking applications however, with time its applications increased and are now being adopted as alternative for tradition printing processes. Globally, the demand for digital printing is having a significant impact on various industries as the business models of these industries is changing in many ways. Thus, numerous print providers are now using inkjet printing in innovative ways.
Furthermore, adoption of inkjet printers is growing within the photographers and magazine manufacturers. The multifunctional features and unique capability of inkjet printers of providing proper color combinations has enhanced its utilization in these creative fields, and ultimately has fuelled the market size of inkjet printers in the global marketplace. Moreover, with technological advancements, integration of latest tools and technologies has made the inkjet printers more innovative and user-friendly. These and many such factors are driving the growth of the inkjet printers market across the globe. However, 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.
"Multifunctional inkjet printers segment is expected dominate the Inkjet Printers Market"
Based on type, the multifunctional printers segment is expected to hold the largest market share in the global inkjet printers market. Various advantages of multifunctional inkjet printers over other printers is the primary factor that increases its adoption across various industries. These printers can conduct varieties of activities such as print, scan, copy, fax etc. that highlights its versatility. Furthermore, these devices can be connected to various USB, Bluetooth or wireless tools to make the control and process easy. Based on increasing demand for these printers, numerous companies are developing and launching new and innovative multifunctional inkjet printers. These new products give variety of alternative for the user to adopt and thus, fuels the growth of this market.
"North America to dominate the Inkjet Printers Market"
North America dominates the inkjet printers market by holding 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 large number of player operating in the global inkjet printers market are based in the U.S. Also, penetration of advanced technologies is high in North American region, which ultimately fuels the adoption of inkjet printers.
Asia-Pacific is expected to grow at a highest CAGR during the forecast period. Asia-Pacific offers significant opportunities to the manufacturers of inkjet printers. The manufacturing cost and the labor cost is 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 is driving the demand for innovative tools such as inkjet printers in this region.
Some of the prominent players operating in the inkjet printers 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.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Inkjet Printers market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
