The market for inkjet printers is expected to grow at a CAGR of around 5.7% from 2020 to 2027 and expected to reach the market value of around US$ 50.5 Bn by 2027.
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.
Inkjet printers have applications across various industries including 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 market growth. The massive demand of 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 market value. 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 improve 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 pixel, and combination on any substrate is further boosting the demand for inkjet printers in the market.
Segment Instance of Global Inkjet Printers Market
Consumer segment accounted for the maximum revenue share in the global inkjet printers market
On the basis of end-user, the consumer segment is leading the global inkjet printers market with a major revenue share (%) and the segment is also projected to maintain its dominance throughout the forecast period from 2020 to 2027.
North America accounted for the maximum revenue share in the Inkjet Printers market
In 2019, North America leads the inkjet printers market with maximum revenue share (%) 2019, and the region is also projected to maintain its dominance throughout the forecast period from 2020 to 2027. The highly developed advertisement industry of the region especially from 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 fastest growth during the forecast period from 2020 to 2027
The Asia Pacific region along with its major economies is projected to experience the fastest growth over the forecast period from 2020 to 2027. The major developing economies of the region like China and India are major revenue contributors in 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.
Key Market Players
The players profiled in the report include Brother Industries, Ltd., Canon Inc., Domino Printing Sciences plc, Hitachi Industrial Equipment Systems Co., Ltd, HP Inc., Inkjet, Inc., Lexmark International Inc., Seiko Epson Corporation, Videojet Technologies, Inc., Xerox Corporation, and Others.
Market By Printer Type
Single functional Printers
Large Format Printers
Industrial Inkjet Printers
Textile Inkjet Printers
Market By Substrate
Market By Technology
Drop on Demand
Market By End-user
Market By Geography
• Rest of Europe
• South Korea
• Rest of Asia-Pacific
• Rest of Latin America
Middle East & Africa
• South Africa
• Rest of Middle East & Africa
The market for inkjet printers is expected to reach a market value of around US$ 50.5 Bn by 2027.
The inkjet printers market is expected to grow at a CAGR of around 5.7% from 2020 to 2027.
End-user is the leading segment by end-user in the inkjet printers market
The wide range of application across various industries including advertisement, packaging, education, textile, and pharmaceutical, huge demand of inkjet printers from the e-commerce transport and shipment, personal care, household care, food and beverages, and healthcare industries for convenience-based packaging, massive demand of inkjet printers for packaging purposes are some of the major factors driving the market growth.
Brother Industries, Ltd., Canon Inc., Domino Printing Sciences plc, Hitachi Industrial Equipment Systems Co., Ltd, HP Inc., Inkjet, Inc., Lexmark International Inc., Seiko Epson Corporation, Videojet Technologies, Inc., and Xerox Corporation are some of the prominent players in the market.
North America held the highest market share in the inkjet printers market
Asia Pacific is expected to be the fastest growing market over the forecast period