Inkjet Printers Market Value to Reach US$ 53 Bn By 2027 | CAGR 6.5%

The global inkjet printers market was estimated at US$ 34.22 billion in 2019 and is projected to reach US$ 53.1 billion by 2027, registering a CAGR of 6.5% from 2020 to 2027. The report contains 150+ pages with detailed analysis.

The report provides the overall revenue of the global inkjet printers market from 2016 to 2027, considering 2020 as the base year and 2027 as the forecast year. The study includes drivers and restraints of this global market. It offers a thorough analysis of the market revenue status, growth, future trends, and forecast of the global inkjet printers market for the period from 2016 to 2027.

Growth Factors

The packaging industry is witnessing rapid growth across the globe due to huge demand from the e-commerce transport and shipment, food and beverages, personal care, household care, and healthcare industries for convenience-based packaging. This growth is creating a massive demand for inkjet printers for packaging purposes, which one of the major factors driving the market.

The rapidly growing advertisement industry, coupled with increasing demand for higher print resolution and better print quality, is anticipated to drive market growth. Large format printers are used majorly to advertise products on banners, posters, signage boards, billboards, and hoardings. Banners and billboards consist of detailed information including images, graphics, and logos to capture the attention of viewers. Thus, marketers prefer large format printers to print visual campaigns-including graphic-rich posters and banner advertisements with high-quality images-for display in offices or public spaces. It gives advertising and marketing professionals the power to develop brand awareness and improve visibility for a product/ service in a specific industry. Furthermore, large format printers are used by photographers to print photographs without pixel split, proper color, and combination on any substrate.

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COVID–19 Impact:

The industrial report mentions the influence of the ongoing COVID-19 pandemic. The outbreak has caused disturbances in several industries and has hammered the logistics, resulting in delayed deliveries and cancellation of product demand. The inkjet printers report proficiently explains the resulting factors and concerns of manufacturers. Researchers have also well-explained how the producers and providers will tackle the ongoing epidemic and the key strategies to be adopted post-pandemic for turning their businesses back to normal.

Report Highlights

The multifunctional printer segment accounted for the largest revenue share of 24.62% in 2019 and is expected to grow considerably over the forecast period.

Moreover, multifunctional printers are widely used across corporate offices and academic institutions, such as colleges and schools.

The Continuous Ink Jet (CIJ) printer segment accounted for the largest revenue share of 37.70% in 2019 and is expected to grow considerably over the forecast period.

Printers with Drop on Demand (DOD) inkjet technology are expected to emerge as the fastest-growing segment over the forecast period.

The industrial end-user segment accounted for the largest revenue share of 24.12% in 2019 and is expected to grow with the highest growth rate of 6.9% over the forecast period.

The industrial segment comprises of packaging, publishing, and photography. The packaging segment accounted for the largest revenue share of 54.54% in 2019 and is anticipated to continue its dominance in the forthcoming years.

What is driving the market for inkjet printers?

Inkjet printers are rapidly gaining a dominant position in both the home and office segments. According to IDC Worldwide Quarterly Hardcopy Peripheral Tracker, 1Q2021, the overall inkjet printer market size in India has witnessed an increase of 6.5% between FY19 and FY20. During this period, the home segment of the overall inkjet printer market increased approximately from 39% to 55%.

This significant growth can be attributed to the ever-evolving work from home and e-learning scenarios in the country, brought on by the pandemic. The increased ambit of home printing needs can be attributed not only to the home learning segment but also to the work from home professionals or SMBs. For certain professionals, such as lawyers and chartered accountants (CAs) who must read through high-volume content, the uptake of home printers is higher as it is easier to read and review hard copies than soft copies. A lot of scanning requirements for reimbursement claims and GST claims are also being done from home now by consumers.

Needless to say, consumers are looking for value, for convenience and for using environmentally sustainable technology. Epson’s EcoTank printers offer a very low print cost, are eco-friendly, easy to refill, have a high page yield and a low total cost of ownership and are hence being preferred by consumers across the board. We believe the inkjet printing market will continue to witness a healthy growth momentum post the pandemic.

A few key players operating in the industrial inkjet printers market are

• Videojet Technologies, Inc.
• Pannier Corporation
• Canon Singapore Pte. Ltd.
• HP Development Company, L.P.
• Xerox Corporation
• Brother Industries, Ltd.
• KEYENCE CORPORATION
• Konica Minolta, Inc.
• Seiko Epson Corporation

Why should you invest in this report?

If you are aiming to enter the global inkjet printers market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for inkjet printers are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2020-2027 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

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