Printer Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 54.35 Billion |
| Market Size (2029) | USD 67.88 Billion |
| CAGR (2024 - 2029) | 4.55 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Printer Market Analysis
The Printer Market size is estimated at USD 54.35 billion in 2024, and is expected to reach USD 67.88 billion by 2029, growing at a CAGR of 4.55% during the forecast period (2024-2029).
- A printer is an external hardware output device that creates a physical copy of electronic information stored in a computer or another electronic device. It can reproduce documents, texts, images, or all three. The printer industry is seeing consistent expansion due to technological progress, rising demand in different industries, and strategic moves made by major companies.
- The printer market is influenced by the introduction of new technologies, the changing needs of customers, and the emergence of new printing markets. The biggest trend in the printer industry has been the growth of digital printing. The future of printing technology is expected to involve a significant focus on automating the entire printing process. Features such as automatic document feeders and automatic duplexing are becoming increasingly common in printers these days. As the demand for digital printing continues to advance, the market is expected to witness significant growth in the coming years.
- The adoption of newer printer models is driven by the desire to reduce the cost per page of printing and to simplify the process of loading new ink or toner, which has historically been challenging. The market now offers a variety of affordable and environmentally friendly ink and toner options, resulting in improved print quality, fewer ink spills, and lower print costs per page. As a result, numerous companies are making substantial investments in this technology to boost their competitiveness.
- The concept of online printing has evolved to encompass all the modern practices within the industry. It is playing a significant role in shaping the future of printing by changing how printing services are accessed, carried out, and managed. Through the utilization of technology and automation, online printers are enhancing efficiency, reducing waste, and offering cost-effective pricing. Online printing is revolutionizing the industry by promoting advancements in digital printing, online ordering systems, personalized printing, and automated processes. These substantial developments are expected to drive the market forward.
- The printing industry is witnessing a surge in growth driven by factors such as mobile printing, the rising need for color printing, packaging printing demands, market expansion for entry-level products like A4 printers, and the increasing reliance on cloud-based computing and software. Reputable online printing companies prioritize quality and uniformity by leveraging state-of-the-art printing technology and enforcing rigorous quality assurance measures. This commitment ensures that prints are of superior quality, featuring accurate colors, sharp details, and long-lasting resilience.
- Despite the obstacles presented by the COVID-19 pandemic and the surge in digital media, commercial printing is on a steady growth trajectory rather than a decline. Due to the advancements in digital printing technology, printers are now able to offer highly customized and targeted print products, meeting the unique preferences of both consumers and businesses. Furthermore, the home printer market experienced substantial growth as people stocked up on essentials during the COVID-19 outbreak, particularly with the rise of work-from-home situations.
Printer Market Trends
The Inkjet Printer Segment is Expected to Hold Significant Market Share
- Inkjet printing, a method that ejects tiny liquid ink droplets onto various surfaces such as paper, has been instrumental in the advancement of digital printing. This industry is projected to maintain a substantial market share in the foreseeable future due to its efficiency in producing short-runs and personalized items. The growth in e-commerce and the adoption of web-to-print solutions are driving the commercial printing industry forward. Inkjet printers, known for their capability to handle small print jobs and customized products, have solidified their crucial position in this changing environment.
- Despite being a well-established technology, inkjet printing is experiencing a surge in usage due to technological advancements that are redefining the role of print in communication. This shift is driven by factors such as personalization, integration, interactive/mobile capabilities, and the expanding range of print applications. Commercial printing has been a staple since the invention of the printing press. With the proliferation of technology and the increasing adoption of inkjet printing in offices and personal environments, there is a projected global rise in demand for inkjet printheads.
- The increasing popularity of UV-curable inks is a major trend that is propelling the demand for inkjet printers, especially in industries like packaging and graphics. UV-curable inks have the ability to form strong bonds with a wide range of materials, such as plastics, glass, metal, and even non-traditional surfaces like wood and ceramics. This versatility enables printing on various substrates, broadening the potential applications of inkjet printers. These advancements in enhancing the printing capabilities of inkjet printers are expected to further boost the segment's potential in the future.
- The trend toward more sustainable business practices is leading to a preference for digital advertising over print. As companies invest more in digital advertising, the budgets for print advertising, including inkjet printing, are expected to decrease. This shift may result in reduced demand for printed marketing materials such as brochures, posters, and banners. According to the IBEF, digital advertising in India grew at a moderate rate of 8–10% in the fiscal year 2022-23. However, with the expected economic growth in 2023-24, digital ad spending is projected to more than double to USD 21 billion by 2027-28.
- Inkjet printing is playing a crucial role in the packaging industry thanks to its flexibility and ability to customize on demand. This method is particularly effective for variable data printing, making personalized packaging, targeted campaigns, and seasonal designs possible with minimal setup time. Moreover, inkjet printing enables efficient short-run production, cutting down on inventory costs and enabling businesses to print packaging as required. The increasing investments by companies in developing products for printing applications are anticipated to boost the segment's growth.
- In October 2023, Nordmeccanica, a global manufacturer in coating, laminating, and metalizing technology, entered a strategic partnership with Fujifilm for inkjet printing. This collaboration aimed to deliver production benefits for customers of Fujifilm's Jet Press FP790 digital inkjet flexible packaging solution. This agreement with Nordmeccanica follows recent partnerships with Hybrid Software and Henkel Adhesive Technologies, marking another milestone in Fujifilm's strategy to collaborate with top suppliers and technology experts in the flexible packaging industry for its Jet Press FP790.
North America Expected to Register the Largest Market Share
- North America plays a significant role as a major market for printers, given its substantial market size. The extensive use of printers in categories like government, enterprises, homes, offices, and educational institutions has fueled revenue growth in the printer market within the region. Global printing companies, such as HP Inc., Canon, Xerox Corporation, and Seiko Epson Corporation, heavily rely on North America for revenue generation. For instance, in FY 2023, Seiko Epson generated 21.9% of its revenue from the United States.
- Moreover, businesses in the region are looking forward to increased revenue growth by enhancing the software integration and features of multifunction printing devices. The emphasis on reducing environmental impact is spurring innovation among regional suppliers. HP, for instance, has a significant presence in the area, with 33.57% of its revenue in 2023 stemming from printing solutions. HP Inc. has set a target to incorporate 30% post-consumer recycled content plastic in its print and personal systems product range by 2025.
- The number of individuals reading books in the area is on the rise, leading to potential growth in the market. Digital inkjet printing allows publishers to avoid forecasting print quantities, reducing the chances of excess inventory or insufficient supply. This innovation allows for a more adaptive strategy, ensuring that books are produced only when orders are received. It proves to be particularly beneficial for older titles, making it cost-effective to maintain them in circulation indefinitely. As reported by Circana BookScan in May 2024, the printed book market in the United States experienced a 5% growth compared to May 2023.
- The increasing need for eco-friendly packaging options is boosting the expansion of North America's commercial printing industry. Packaging companies are heavily investing in broadening their product offerings within the region. This movement is being driven by a growing consciousness among consumers and regulatory demands to reduce environmental harm. Furthermore, progress in digital printing and the use of environmentally friendly inks are also contributing to market growth, providing cost-efficient and sustainable alternatives to conventional printing techniques.
- Several vendors in North America are driving the advancement of the commercial printing industry by expanding strategically and introducing innovations. Businesses are investing in cutting-edge printing technologies and expanding their production capabilities. As an illustration, in January 2024, Landa Digital Printing, a leading manufacturer of nanographic printing presses, announced the inauguration of its new ink facility in the United States. This strategic move was intended to cater to the growing needs of its expanding customer base in North America. The plant located in the Midwestern United States is expected to manufacture the company's exclusive water-based Landa NanoInk.
- Moreover, advantageous regulations, educational opportunities, training, and campaigns advocated by prominent commercial printing associations, such as PRINTING United Alliance, National Association of Printing Ink Manufacturers (NAPIM), Printing Industries of America (PIA), and National Print Owners Association (NPOA), are positioned to boost demand for commercial printing in the region. These associations offer support, representation, and networking prospects that enhance the capabilities and outreach of commercial printing enterprises, thereby fostering growth and innovation within the industry.
Printer Industry Overview
The printer market is moderately fragmented, with a majority share acquired by a few global players. High investments in R&D, new product launches, market initiatives, mergers and acquisitions, partnerships, and collaborations are the prime growth strategies companies adopt to sustain the competition. Key players in the market are Canon, Xerox, Ricoh, and Konica Minolta.
- January 2024 - HP launched a new line of 'OfficeJet Pro' printers designed to cater to the printing requirements of SMBs in India. The new line consists of OfficeJet Pro 9720 and 9730 Wide Format All-in-One series, OfficeJet Pro 9130 All-in-One series, and OfficeJet Pro 8120 All-in-One series. The HP OfficeJet Pro series is offered at a base price of INR 21,562 (USD 257.43).
- November 2023 - Brother Industries revealed its most recent inkjet printer, the MFC-J1800DW Print & Cut All-in-One Color Inkjet Printer. This model signifies the brand's initial venture into automatic paper cutting. The Print & Cut system makes use of the state-of-the-art Brother Blade Sensor Technology (BST) to ensure precise cutting of full letter pages. Positioned as a versatile choice, the Print & Cut is aimed at consumers who require a compact, all-in-one printer for their daily printing needs.
Printer Market Leaders
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HP Inc.
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Canon Inc.
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Seiko Epson Corporation
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Brother Industries, Ltd.
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Xerox Corporation
*Disclaimer: Major Players sorted in no particular order
Printer Market News
- January 2024 - Roland DG Corporation unveiled the EU-1000MF large format UV-LED flatbed printer in North America. This printer delivers high-quality printing, exceptional support at an attractive price, and a productivity level that will appeal to a diverse customer base. Capable of producing beautiful prints on materials up to 95 mm (3.74”) thick, it is suitable for a wide range of applications such as sign graphics, event and store displays, décor, and customized goods in small batches, allowing customers to grow their printing businesses significantly.
- June 2024 - CMYKhub, the top wholesale printer in Australia, expanded its services by investing in two Canon varioPRINT iX3200 cut-sheet presses at Drupa. This family-owned business caters to a diverse range of clients, from independent printers to advertising agencies and graphic designers, offering a wide variety of printed products like business cards, brochures, stationery, calendars, banners, signage and display, labels, and packaging.
Printer Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Impact of COVID-19 on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Technological Advancements and Product/Service Enhancement in the Business End-use Sector
5.2 Market Restraints
5.2.1 Environmental Concerns and Growing Digitization in End-user Verticals
6. MARKET SEGMENTATION
6.1 By Printer Type
6.1.1 Multi-functional
6.1.2 Standalone
6.2 By Technology Type
6.2.1 Dot Matrix Printer
6.2.2 Inkjet Printer
6.2.3 LED Printer
6.2.4 Thermal Printer
6.2.5 Laser Printer
6.3 By Printer Interface
6.3.1 Wired
6.3.2 Wireless
6.4 By Output Type
6.4.1 Color
6.4.2 Monochrome
6.5 By End-user Application
6.5.1 Residential
6.5.2 Commercial
6.5.3 Educational Institutions
6.5.4 Enterprises
6.5.5 Government
6.5.6 Other End-user Applications
6.6 Geography
6.6.1 North America
6.6.2 Europe
6.6.3 Asia-Pacific
6.6.4 Latin America
6.6.5 Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 HP Inc.
7.1.2 Canon Inc.
7.1.3 Seiko Epson Corporation
7.1.4 Brother Industries Ltd
7.1.5 Xerox Corporation
7.1.6 Fujifilm Holdings Corporation
7.1.7 Konica Minolta Inc.
7.1.8 Roland DG Corporation
7.1.9 Ricoh Company Ltd
7.1.10 Fujitsu Ltd
7.1.11 Panasonic Corporation
7.1.12 Toshiba Corporation
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Printer Industry Segmentation
A printer is a device that uses text and graphics as input from a computer and relocates the information to paper. The study further covers the revenue generated from the sales of printers.
The printer market is segmented by printer type, technology type, printer interface, output type, end-user application, and geography. By printer type, the market is segmented into multi-functional and standalone. By technology type, the market is divided into dot matrix printer, inkjet printer, LED printer, thermal printer, and laser printer. By printer interface, the market is divided into wired and wireless. By output type, the market is segmented into color and monochrome. By end-user application, the market is divided into residential, commercial, educational institutions, enterprises, government, and other end-user applications. By geography, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Printer Type | |
| Multi-functional | |
| Standalone |
| By Technology Type | |
| Dot Matrix Printer | |
| Inkjet Printer | |
| LED Printer | |
| Thermal Printer | |
| Laser Printer |
| By Printer Interface | |
| Wired | |
| Wireless |
| By Output Type | |
| Color | |
| Monochrome |
| By End-user Application | |
| Residential | |
| Commercial | |
| Educational Institutions | |
| Enterprises | |
| Government | |
| Other End-user Applications |
| Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| Latin America | |
| Middle East and Africa |
Printer Market Research FAQs
How big is the Printer Market?
The Printer Market size is expected to reach USD 54.35 billion in 2024 and grow at a CAGR of 4.55% to reach USD 67.88 billion by 2029.
What is the current Printer Market size?
In 2024, the Printer Market size is expected to reach USD 54.35 billion.
Who are the key players in Printer Market?
HP Inc., Canon Inc., Seiko Epson Corporation, Brother Industries, Ltd. and Xerox Corporation are the major companies operating in the Printer Market.
Which is the fastest growing region in Printer Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Printer Market?
In 2024, the North America accounts for the largest market share in Printer Market.
What years does this Printer Market cover, and what was the market size in 2023?
In 2023, the Printer Market size was estimated at USD 51.88 billion. The report covers the Printer Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Printer Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Printers Industry Report
Statistics for the 2024 Printers market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Printers analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
