Printer Market Size 2022, Share, Growth, Latest Trends and Forecast Till 2027

According to the global printer market report by IMARC Group, the market reached a value of US$ 44.82 Billion in 2021, and it is projected to reach a value of US$ 61.9 Billion by 2027, exhibiting a CAGR of 5.20% during 2022-2027.

A printer is an external hardware output device that converts digital information from computers or other devices, such as text and images, into a hard copy. It is widely used in dentistry, biotechnology, information systems, aerospace engineering, and archaeology. It offers customizable results, high-quality output, and easy accessibility and is reliable and efficient. As a result, the printer finds extensive applications in corporate, media, and entertainment (M&E), education, and public sectors across the globe.

Market Trends

The global printer market is primarily driven by the rising demand for high-quality pictures. Moreover, there has been a rise in the use of large-format printers for printing business presentations and professional data. In line with this, the rapid expansion in the printing industry is positively influencing market growth.

Additionally, improving educational facilities due to the rising government funding in numerous countries has augmented the demand for printing learning and teaching materials. Besides this, the increasing demand for printers in the corporate sector to print essential papers, including financial files, employee information, and company policies, is propelling market growth. Furthermore, the development of wireless printers due to significant improvements in network infrastructure is contributing to market growth. Other factors, including emerging e-commerce platforms, the rising number of small and medium-sized enterprises, and technological advancements, are also anticipated to drive the market further.

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Competitive Landscape

The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.

Brother Industries Ltd., Canon Inc., FUJIFILM Corporation, Fujitsu Limited, Hitachi Ltd., Honeywell International Inc., HP Inc., Konica Minolta Inc., KYOCERA Corporation, Panasonic Corporation, Ricoh Company Ltd., Roland DG Corporation, Seiko Epson Corporation, Toshiba Corporation, and Xerox Corporation.

Report Segmentation

The report has segmented the market into the following categories:

Breakup by Printer Type:

• Multi-Functional
• Standalone

Multi-functional represents one of the commonly used printer types as it reduces costs, saves space, and assists in better document management.

Breakup by Technology Type:

• Dot Matrix Printer
• Inkjet Printer
• LED Printer
• Thermal Printer
• Laser Printer

Inkjet printer accounts for the majority of the total market share on account of their portability, low cost, and high-quality output.

Breakup by Printer Interface:

• Wired
• Wireless

On the basis of the printer interface, the market has been bifurcated into wire and wireless variants.

Breakup by End User:

• Residential
• Commercial
• Educational Institutions
• Enterprises
• Government
• Others

Printers find extensive application in the commercial sector due to the growing advertising needs of organizations worldwide.

Regional Insights:

• Asia Pacific
• North America
• Europe
• Middle East and Africa
• Latin America

On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.

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