The Global Inkjet Printers Market Size accounted for USD 37,508 Million in 2021 and is estimated to achieve a market size of USD 60,835 Million by 2030 growing at a CAGR of 5.7% from 2022 to 2030. The rapidly increasing adoption of digital printing, as well as growth in the advertising and promotional fields, are some major factors driving the inkjet printers market growth. Furthermore, rising disposable income levels and urbanization will drive inkjet printers market value over the next few years.
Inkjet Printers Market Report Key Highlights
The inkjet printer uses ink to print text, graphics, and images onto various types of paper. These types of printers are most commonly used in homes and small offices, also many commercial printing companies use inkjet printers to produce high-quality brochures, flyers, and other pieces. These are non-contact printers that recreate a digital image by propelling droplets of ink through nozzles on the paper and plastic substrates.
Global Inkjet Printers Market Dynamics
Inkjet Printers Market Report Coverage
|Market||Inkjet Printers Market|
|Inkjet Printers Market Size 2021||USD 37,508 Million|
|Inkjet Printers Market Forecast 2030||USD 60,835 Million|
|Inkjet Printers Market CAGR During 2022 - 2030||5.7%|
|Inkjet Printers Market Analysis Period||2018 - 2030|
|Inkjet Printers Market Base Year||2021|
|Inkjet Printers Market Forecast Data||2022 - 2030|
|Segments Covered||By Printer Type, By Revenue, By Technology, By End-User, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Brother Industries, Ltd., Seiko Epson Corporation, Domino Printing Sciences plc, Inkjet, Inc., HP Inc., Lexmark International Inc., Hitachi Industrial Equipment Systems Co., Ltd, Videojet Technologies, Inc., Canon Inc., and Xerox Corporation.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Inkjet printers have applications across various industries including the advertisement, packaging, education, textile, and pharmaceutical among others. The huge demand for inkjet printers from the e-commerce transport and shipment, personal care, household care, food and beverages, and healthcare industries for convenience-based packaging is driving the inkjet printers market trend. The massive demand for inkjet printers for packaging purposes along with the rapidly growing advertisement industry, coupled with the increasing demand for higher print resolution and better print quality in the market is further bolstering the inkjet printers market size. Furthermore, the banners and billboards consist of detailed information like images, graphics, and logos to capture the attention of viewers are gaining growth in the current market is the prime factor where marketers prefer large format printers to print visual campaigns inclusive of large graphic-rich posters and banner advertisements with high definition images, particularly for display in public spaces or offices. The inkjet printers are giving power to the advertising and marketing professionals to develop their brand awareness coupled with improving visibility for a product or service in the respective industry. Moreover, large format printers are also used by professional photographers to print photographs with proper color, more pixels, and combination on any substrate further boosting the demand for inkjet printers in the market.
Inkjet Printers Market Segmentation
The worldwide inkjet printers market segmentation is based on the printer type, substrate, technology, end-user, and geography.
Inkjet Printers Market By Printer Type
According to the inkjet printers industry analysis, the multifunctional printer segment can hold the highest revenue share in 2021. This is due to multifunctional printers' integrated characteristics such as high speed, versatile abilities including print, scan, copy, as well as fax within one device, and affordability. Furthermore, one of the key factors positively affecting the market in the coming years is the growing population of multifunctional printers in the medical industry.
Inkjet Printers Market By Substrate
In terms of substrate, the plastic segment is anticipated to experience significant growth in 2021. Plastic is a popular substrate for inkjet code printing. It is a broad term that encompasses a wide range of materials such as high-density polyethylene (HDPE), biaxially oriented polypropylene (BOPP), as well as polyester (PET). Knowledge of the various plastic material types, surface conditions, and environmental printing conditions will aid in selecting the best ink for the application.
Inkjet Printers Market By Technology
According to the inkjet printers market forecast, the drop on demand (DOD) segment is expected to grow significantly in the market over the next few years. The benefits provided by DOD in terms of flexibility reduced maintenance, and functionality is the primary factors driving the segment's expansion in the coming years. The fluid is forcibly removed from the print head only if a drop is required in a DOD structure.
Inkjet Printers Market By End-User
Based on the end-user, the industrial sector held a significant revenue share in the global inkjet printers market. The high processing speed provided by industrial inkjet printers facilitates fast coding as well as the marking of products, allowing businesses to design products of various shapes and sizes. Furthermore, these printers can also be used to print cylinder surfaces, expanding their functionality in the cylinder-shaped products industry, which incorporates bottles, narrow drums, as well as pipes. Publishing, wrapping, and photography comprise the industrial segment.
Inkjet Printers Market Regional Outlook
The Middle East & Africa (MEA)
North America accounted for the maximum revenue share in the Inkjet Printers market
In 2021, North America leads the inkjet printers market with maximum revenue share, and the region is also projected to maintain its dominance throughout the forecast period from 2022 to 2030. The highly developed advertisement industry of the region especially in the US and Canada is boosting the regional market value. The high per capita income of the consumers in the region is further bolstering the regional market value. Additionally, the presence of major manufacturers in the region is further supporting the regional market dominance.
Asia-Pacific is projected to exhibit the fastest growth during the forecast period from 2022 to 2030
The Asia-Pacific region along with its major economies is projected to experience the fastest growth over the forecast period from 2022 to 2030. The major developing economies of the region like China and India are major revenue contributors to the regional market. The developing industrial infrastructure along with the improving marketing channels with more advanced campaigns coupled with hoardings and banners is further propelling the regional market value.
Inkjet Printers Market Players
Some of the top inkjet printers companies offered in the professional report includes Brother Industries, Ltd., Seiko Epson Corporation, Domino Printing Sciences plc, Inkjet, Inc., HP Inc., Lexmark International Inc., Hitachi Industrial Equipment Systems Co., Ltd, Videojet Technologies, Inc., Canon Inc., and Xerox Corporation.
The estimated value of global inkjet printers market in 2021 was accounted to be USD 37,508 Million.
The projected CAGR inkjet printers market during the analysis period of 2022 to 2030 is 5.7%.
The prominent players of the global inkjet printers market are Brother Industries, Ltd., Seiko Epson Corporation, Domino Printing Sciences plc, Inkjet, Inc., HP Inc., Lexmark International Inc., Hitachi Industrial Equipment Systems Co., Ltd, Videojet Technologies, Inc., Canon Inc., and Xerox Corporation.
North America held the dominating inkjet printers during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for inkjet printers during the analysis period of 2022 to 2030.
The growing popularity of digital printing, and adoption of cutting-edge technologies, drives the growth of global inkjet printers market.
Based on end-user, consumer segment is expected to hold the maximum share inkjet printers market.