According to a new market research report published by Credence Research “Global Inkjet Printers Market (Type (Desktop Printers, Multifunctional Printers, Large Format Printers, Industrial Inkjet Printers, Inkjet Press, Textile Printers), Technology (Continuous, DOD) End User (Consumer, Industrial, Institutional)) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall inkjet printers market worldwide is set to grow with a CAGR of more than 7.2% during the forecast period from 2019 to 2027, starting from US$ 45.18 Bn in 2018.
Globally, with rapid evolution of e-commerce and m-commerce, the demand for good and effective way to highlight the brands and to communicate well with the customers started increasing. This has increased the adoption of inkjet as it helps communicate with the end customer in an effective way. The inkjet technology is gradually developing and is now considered to be economic and reliable compared to other techniques. Moreover, the ability of inkjet printers to provide high-quality and high-speed prints also drives attention towards it and increases its adoption.
With continuous technological advancements and research studies, manufacturers are exploring new features and functions that can be intergraded in the upcoming models of the inkjet printers. This provides a great opportunity for the players to make their product more distinctive and thus gain traction in the market. However, high cost of the printer and the cartridges compared to other traditional machinery and accessories is likely to restrain the growth of this market during the forecast period.
Based on type, the inkjet printers market is segmented into desktop printers, multifunctional printers (MFP), large format printers, industrial inkjet printers, inkjet press, and textile printer. The multifunctional printers segment is expected to hold the largest market share in the global inkjet printers market. The huge market share of this product segment mainly attributed to its increasing adoption based on integrated features, high-speed and multifunctional capability, and affordability.
Based on the geography, North America dominates the inkjet printers market by holding largest market share of the total revenue generated worldwide. The penetration of advanced technologies is high in North American region, which is the primary factor fueling the adoption of inkjet printers. Also, the North American inkjet printers market was led by US, as large number of player operating in the global inkjet printers market are based in the US and the strategic activities of these players fuel the growth of this market.
However, Asia-Pacific is expected to grow at a highest CAGR during the forecast period as this regional segment offers significant opportunities based on low manufacturing cost and low labor cost. This makes Asia-Pacific an ideal location to set up production plants for bulk production. Moreover, increasing penetration of advanced technology, and growing industrialization is driving the demand for innovative tools such as inkjet printers in this region.
Some of the major companies profiled in the report include Canon Inc., HP Inc., Brother Industries, Ltd., Xerox Corporation, Seiko Epson Corporation, Hitachi Industrial Equipment Systems Co., Ltd, Domino Printing Sciences plc, Lexmark International Inc., Videojet Technologies, Inc., and Inkjet, Inc., among others.
Browse the full report at https://www.credenceresearch.com/report/inkjet-printers-market
The Global Inkjet Printers Market is Segmented into:
|Segmentation||By Type Segment (2017–2027; US$ Bn)|
|By Technology Segment (2017–2027; US$ Bn)|
|By End User Segment (2017–2027; US$ Bn)|
|By Geography Segment (2017–2027; US$ Bn)|
*Complete segmentation list is on report page