In 2021, the size of the worldwide printer market was US$ 44.82 billion. The publication projects that the market will grow at a CAGR of 5.53% from 2021 to 2027, bringing it to US$ 61.9 billion.
We are continuously tracking and evaluating the pandemic’s direct and indirect effects on numerous end-use industries while taking the COVID-19 uncertainties into consideration. The study lists these insights as a significant market contributor Worldwide printer Industry.
A printer is an external hardware output device, Software & Driver that turns digital data from a computer or other devices—such as text and images—into a hard copy. It simplifies the process of scanning, faxing, and making extra copies of a document. It also offers customizable results, high-quality output, and straightforward accessibility. It is also trustworthy and efficient.
Therefore, it consequently has many uses in the business, media, entertainment (M&E), educational, and public sectors. In addition to this, it is used in biotechnology, information systems, dentistry, and aeronautical engineering. Commercial printers are currently in greater demand as more finished goods are being produced all over the world.
One of the main factors influencing the market is the rising demand for high-quality images. Additionally, there is an increase in the printing of expert data and business presentations using big-size printers. The market is expanding as a result of this and the expanding printing sector globally.
Moreover, The usage of 3D printing is expanding due to its high level of precision, effective use of raw materials, better production time and financials, ability to create customized items, and ability to print various materials at once. Also, this is having a favorable impact on the industry, along with the growing need for printers in business sectors to print vital documents including accounting data, employee information, and corporate regulations.
To boost their overall sales and market share, major firms are concentrating on mergers and acquisitions (M&A). Furthermore, Other factors supporting the market’s expansion include technical developments, an increase in small and medium-sized businesses, expanding e-commerce platforms, and the expanding packing sector.
Brother Industries Ltd., Canon Inc., Fujitsu Limited, FUJIFILM Corporation, Hitachi Ltd., HP Inc., Konica Minolta Inc., Honeywell International Inc., Panasonic Corporation, Ricoh Company Ltd., KYOCERA Corporation, Roland DG Corporation, Toshiba Corporation, Seiko Epson Corporation, and Xerox Corporation are the profile along with the competitive landscape of the market.
The Key Questions in this Report
- What are the current and projected performance trends for the global printer market?
- What effect has COVID-19 had on the world market for printers?
- What major regional markets are there?
- What is the market segmentation depending on the type of Canon printer?
- What is the market segmentation depending on the type of technology?
- What is the market’s division based on printer interface?
- What is the market segmentation based on the end users?
- What are the various steps in the industry’s value chain?
- What are the main driving forces and difficulties facing the sector?
- Who are the major participants in the global printer market and what is its structure?
- How fierce is the industry’s competition?