Technavio Printer Market Research Report Predicts $ 6.01 Billion Growth

Supplier landscape

The market structure is expected to remain fragmented during the forecast period. Vendors operating in the market adopt various organic and inorganic growth strategies to remain competitive in the market.

Brother Industries Ltd., Canon Inc., HP Inc., Konica Minolta Inc., Kyocera Corp., Lexmark International Inc., Ricoh Co. Ltd., Seiko Epson Corp., Sharp Corp. and Xerox Corp. are among the few key suppliers in this market. Sellers compete with each other to maintain their position in the market. To be successful in this market, suppliers must focus on providing printers at competitive prices.

Suppliers are also trying to expand their market presence and strengthen their product portfolio by entering into partnerships and launching new and innovative products.

For example, in February 2019, Ricoh and Cisco Systems Inc. have entered into a strategic partnership to strengthen digital workspaces. Cisco will provide cloud security solutions to RICOH IM C Series next generation MFPs and other office devices.

See more on the highlights of the marketplace vendor landscape with a comprehensive list of vendors and their offerings.

Key market segmentation

  • Segmentation by technology:
    • Laser:
      • The laser segment has greatly contributed to the overall growth of the market in 2020.
      • Laser was the largest segment of the market in 2020 and will remain the largest segment of the market in 2025. The introduction of low cost laser printers will fuel the growth of the segment during the forecast period.
    • Inkjet
    • Others
  • Segmentation by type:
    • Multifunction printers:
      • In terms of type, the multifunction printer segment generated maximum revenue in the market in 2020.
      • Multifunction printers are expected to represent the maximum number of printer sales in the market during the forecast period. The need to reduce paper usage and simplify printing workflows will be critical in driving the growth of the segment.
    • Single function printers

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Regional market outlook

APAC leads the market with a 69% contribution to the overall market in 2020 and is said to increase its contribution to a notable number of the global printer market by 2025.

APAC will generate growth in all years of the forecast period between 2020 and 2025. The increasing demand for large format printing for advertising, billboards, banners and posters will drive the market in APAC.

APAC is said to be the fastest growing region in the global market between 2020 and 2025.

Outside the regions, if we look at the market growth by country, the United States, China, Germany, Japan, and the UK will contribute the strongest growth in the market.

Download our FREE sample report for more highlights on the regional market share of most of the countries mentioned above.

Latest trends driving the global printer market

  • Printer Market Driver:
    • Growing demand from SMEs
      Countries such as India, China, Germany, and the UK are experiencing strong growth in the number of SMEs. The increase in the number of SMEs leads to increased investment in various solutions that help businesses meet their needs at minimal cost. This subsequently increased the demand for printers from SMEs, which is driving the growth of the market.
  • Printer Market Trend:
    • Emergence of ink tank printers:
      Ink tank printers are becoming more and more popular among end users due to their high print quality, cost advantages and high printing speed. The cost of an ink tank printer is comparatively higher than an inkjet printer. But the running cost and cost per print are lower than other printers. In addition, they have longer life cycles as they are made of durable materials. Their growing popularity encourages market vendors to introduce ink tank printers with additional features. This trend is expected to positively impact the growth of the market during the forecast period.

Find additional information on various other market drivers and trends mentioned in our FREE Sample Report.

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Associated reports:

Global Large Format Printer Market – The global large format printer market is segmented by technology (aqueous, solvent, UV cured and latex) and geography (APAC, North America, Europe, South America, and MEA).
Download an exclusive free sample report

Global Multifunctional Printer Market – The global multifunctional printer market is segmented by technology (inkjet and laser) and geography (APAC, Europe, North America, MEA and South America).
Download an exclusive free sample report

Scope of the printer market

Cover of the report

Details

Page number

120

Year of reference

2020

Forecast period

2021-2025

Growth dynamics and CAGR

Decelerate to a 2% CAGR

Market growth 2021-2025

$ 6.01 billion

Market structure

Fragmented

Annual growth (%)

1.33

Regional analysis

APAC, Europe, North America, South America and MEA

Efficient contribution to the market

APAC at 69%

Main consumer countries

United States, China, Germany, Japan and United Kingdom

Competitive landscape

Leading companies, competitive strategies, reach of consumer engagement

Profiled companies

Brother Industries Ltd., Canon Inc., HP Inc., Konica Minolta Inc., Kyocera Corp., Lexmark International Inc., Ricoh Co. Ltd., Seiko Epson Corp., Sharp Corp. and Xerox Corp.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Obstacles, Analysis of Fast Growing and Slow Growing Segments, Impact of COVID-19 and Future Consumer Dynamics, Analysis of Market Conditions for the Forecast Period.

Customization

If our report didn’t include the data you’re looking for, you can reach out to our analysts and customize the segments.

About Us

Technavio is one of the world’s leading technology research and consulting companies. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s report library includes over 17,000+ reports, spanning 800 technologies, spanning 50 countries. Their customer base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research and actionable market intelligence to identify opportunities in existing markets. and potentials and assess their competitive positions in changing market scenarios.

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