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The Global Inkjet Printers Market size is expected to reach $45.6 billion by 2027, rising at a market growth of 4.8% CAGR during the forecast period.
Inkjet printers are non-contact printers that reproduce digital images by propelling ink droplets via nozzles on paper or plastic surfaces. Ionized ink is sprayed onto the paper using inkjet technology, which is guided by magnetic plates. Advertisement, textile, education, packaging, and pharmaceuticals are just a few of the industries that use these printers. In addition, the packaging sector is expanding rapidly around the world due to the high demand for convenience-based packaging from the e-commerce transportation and shipment, food and beverage, personal care, domestic care, and healthcare industries. As a result of this expansion, there is a huge need for inkjet printers for packaging, which is one of the primary drivers driving the market.
Inkjet printers are computer peripherals that produce high-quality images by precisely spraying tiny droplets of liquid ink onto paper. In comparison to traditional printers, these printers are compact, inexpensive, lightweight, and simple to operate. As a result, they are common in commercial printing of books, signage, billboards, T-shirts, and food labels. With the emergence of portable inkjet printers that offer a wide range of colors and print system flexibility, their applications are spreading globally.
Because inkjet printing generates demand for inks, the ink ecosystem is likely to evolve as well. Solvent, water-based, and UV-based inks are now in use. However, LED inks are ever-changing. Hybrid UV/water systems are becoming more widely available. On the other hand, high ink prices continue to be a big issue, resulting in reduced vendor conversion rates from analog to digital. Increasing applications and economies of scale are expected to cut ink prices during the forecast period. On the other hand, ink prices are expected to remain higher than in analog.
Due to the rising demand for food and pharmaceutical packaging, the packaging, labeling, and printing industries have remained relatively constant over the COVID-19 period. The COVID-19 outbreak, on the other hand, caused supply chain disruptions in a variety of end-user industries, including food and beverage, healthcare, and industrial. Despite the fact that the pandemic has a significant economic impact, inkjet printing companies are meeting this requirement by providing COVID-19-related printed advertisements using web-to-print technology to individuals in need. These are used to communicate all COVID-19 pandemic-related business-to-customer issues. In the instance of COVID-19, the number of coronavirus cases in Europe, particularly France, reached an all-time high, prompting the shutdown of industrial inkjet printer manufacture.
One of the fastest-growing categories of the advertising industry is point of sale (POS) and display advertising. Soft signage is a phrase used in the industry to describe cloth signage that has been digitally produced. Soft signs are often printed on polyester-based textiles and, on rare occasions, natural fibers such as cotton or a cotton blend. Because of their adaptability and use in a variety of applications, banners account for a considerable portion of advertising media. Fabric banners, vinyl banners, and mesh banners, for example, are among the materials available on the market. Digital press providers are beginning to produce digital textile printers that can handle substrates up to and above 3 meters wide as demand for printed fabrics and demanded sizes continues to rise.
Key industry players have announced the launch of a number of new products with expanded capabilities. This aids them in bolstering their market position. In the year 2018, Brother Industries Ltd, an electronic/electrical manufacturing business, announced the MFC-J995DW and MFC-J995DW-XL, a new INKvestment series inkjet printer. In addition, MFC-J995DW inkjet printers can be used for up to a year without ink replacement, while the MFC-J995DW-XL inkjet printer may be used for up to two years without ink replacement. Furthermore, these inkjet printers show the expected remaining page counts as well as monitor ink usage, allowing them to thrive in the inkjet printer industry.
Because the printheads need to be cleaned every now and then, inkjet printers require frequent maintenance. In addition, the frequency of this work is determined by how frequently a person uses the printer, but even if it is used occasionally, there is a need to clean the printheads every three months or so. As a result, utilizing an inkjet printer can be more costly, especially if there is a requirement to print a lot of papers on a regular basis. In addition, inkjet printers are also expensive to refill. A decent printer's high-quality cartridges cost almost as much as the device itself, implying that inkjet cartridges can be rather costly. Also, inkjet printers can employ a variety of ink colors, including black, cyan, magenta, and yellow. In most situations, each color will require a different cartridge.
Based on Type, the market is segmented into Multifunctional, Industrial, Inkjet Press, Large Format, Desktop, Textile, and Others. The Large Format segment collected a promising revenue share of the Inkjet Printers Market in 2020. This is due to the rising demand for large format printing in the textiles, advertising, and packaging industries, as well as the growing use of UV curable inks in outdoor advertising, CAD, and technical printing applications, and the rise in usage of digital document production in commercial printing. The soaring demand for large format printers for applications like home furnishing and decor and vehicle wraps, as well as the growing demand for large format printing from the in-plant market and the availability of a variety of large format printers with a wide price range, would fuel the growth of the segment during the forecasting period.
Based on Technology, the market is segmented into Continuous Inkjet, Drop on Demand, UV Inkjet and Others. In 2020, the Continuous Ink Jet (CIJ) segment collected the maximum revenue share of the Inkjet Printers Market. This can be attributed to factors such as cheaper maintenance costs, little VOC leakage, and the ability to fill various types of inks, among others. In addition, sealable cartridge-based ink supply systems are available in technology-based printers, making replacement easier while reducing the risk of spillage. As a result, the market demand for Continuous Ink Jet (CIJ) printers is expected to increase in the future years.
Based on End User, the market is segmented into Industrial, Education, Textile, Pharmaceutical, Consumer and Others. The Education segment acquired a promising revenue share of the Inkjet Printers Market in 2020. This is because teachers that need a lot of image presentation handouts would benefit from the inkjet printer. Inkjet cartridges are inexpensive, refillable, and reusable, which reduces both waste and costs. This printer can also print on a variety of materials and surfaces, including picture papers, textured papers, and even some textiles. Teachers who print lesson materials, like digital photographers, benefit greatly from inkjet printers for both ease and high-resolution outcomes.
|Market size value in 2020
|USD 33.5 Billion
|Market size forecast in 2027
|USD 45.6 Billion
|2017 to 2019
|2021 to 2027
|Revenue Growth Rate
|CAGR of 4.8% from 2021 to 2027
|Number of Pages
|Number of Tables
|Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling
|Type, Technology, End User, Region
|US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2020, North America emerged as the dominating region in the overall Inkjet Printers Market by collecting the highest revenue share. In addition, the regional market is expected to showcase a similar kind of trend even during the forecasting period. This is because Inkjet printers are extensively utilized in the packaging sector for marking and coding purposes.
Free Valuable Insights: Global Inkjet Printers Market size to reach USD 45.6 Billion by 2027
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Videojet Technologies, Inc. and HP, Inc. are the forerunners in the Inkjet Printer Market. Companies such as Seiko Epson Corporation, Konica Minolta, Inc., and Canon, Inc. are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Keyence Corporation, Videojet Technologies, Inc. (Danaher Corporation), Canon, Inc, Konica Minolta, Inc., Seiko Epson Corporation, Brother Industries, Ltd., Mimaki Engineering Co., Ltd., HP, Inc., Xerox Corporation, and InkJet, Inc.
By End User
The inkjet printers market size is projected to reach USD 45.6 billion by 2027.
Growing adoption of inkjet printers in advertisements are driving the market in coming years, however, need for regular maintenance and high cost of ink refills limited the growth of the market.
Keyence Corporation, Videojet Technologies, Inc. (Danaher Corporation), Canon, Inc, Konica Minolta, Inc., Seiko Epson Corporation, Brother Industries, Ltd., Mimaki Engineering Co., Ltd., HP, Inc., Xerox Corporation, and InkJet, Inc.
Due to the rising demand for food and pharmaceutical packaging, the packaging, labeling, and printing industries have remained relatively constant over the COVID-19 period.
The Multifunctional segment acquired the maximum revenue share in the Global Inkjet Printers Market by Type in 2020, thereby, achieving a market value of $11.2 billion by 2027.
The North America market dominated the Global Inkjet Printers Market by Region in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $14.5 billion by 2027.
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