The printers market is expected to grow by USD 6.91 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has published a latest market research report titled Global Printers Market 2020-2024 (Graphic: Business Wire)
With the rapidly changing fashion industry, textile manufacturers are shifting their focus from analog printing to digital printing as the latter offers various benefits, including cost savings and eco-friendliness. This is encouraging market vendors to introduce new large-format printers to cater to the growing demand from the textile industry. Also, the rise in marketing and advertising activities have increased the demand for large-format printers to produce large banners, posters, and signs. Thus, the growing demand for large-format printers from the textile and advertising industries is expected to foster the growth of the global printers market during the forecast period.
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As per Technavio, the emergence of ink tank printer will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Global Printers Market: Emergence Of Ink Tank Printer
Ink tank printers are gaining momentum in the market due to their high print quality, cost benefits, and high speed of printing. Ink tank printers do not carry a built-in print head that holds ink. This printer type comes with a dedicated ink tank for each color, such as cyan, yellow, black, magenta. Ink tank printers also use a bulk ink system, which supplies ink continuously to the printer. Thus, the increasing adoption of ink tank printers is expected to drive the growth of the market during the forecast period.
“Other factors such as the improving capabilities of printers, and growing focus on inorganic growth strategies will have a significant impact on the growth of the printers market value during the forecast period,” says a senior analyst at Technavio.
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Global Printers Market: Segmentation Analysis
This market research report segments the printers market by type (multifunction printers and single function printers), technology (laser, inkjet, and others) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the printers market in 2019, followed by Europe, North America, South America, and MEA. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the increasing IT investments by SMEs, the growing number of SMEs and startups, and the rising disposable incomes of people.
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Some of the key topics covered in the report include:
- Multifunction printers
- Single function printers
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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