Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Inkjet printers Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020-2027”
LOS ANGELES, June 07, 2021 (GLOBE NEWSWIRE) -- The Global Inkjet Printers Market is expected to grow at a CAGR of around 5.7% from 2020 to 2027 and reach the market value of over US$ 50.5 Mn by 2027.
Inkjet Printer is an electronic device in which electrically charged droplets of ink are sprayed onto the paper to recreate a digital image. These are the commonly used types of printers and range from small inexpensive consumer models to expensive professional machines. The increasing demand for convenience-based packaging across e-commerce transport and shipment, personal care, food and beverages, household care, and healthcare industries is primarily driving the market growth. With the ability of these printers to print vivid color images at comparatively lower cost, ink-jet has a huge demand across the small office, home, and large-format color printer markets.
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The global inkjet printer market is segmented on the basis of printer type, substrate, technology, end-user, and geography. Based on the printer type, the market is divided into single functional printers, multi-functional printers, large format printers, industrial inkjet printers, textile inkjet printers, and inkjet press. On the basis of substrate, the market is bifurcated across plastic, metal, paper, fabric, ceramic, and others. Based on technology, the market is bifurcated across continuous inkjet, drop on demand, UV inkjet, and others. Additionally, the end-user includes consumer, education, industrial, textile, pharmaceutical, and others.
North America is leading the inkjet printer market with maximum revenue share (%) and the region is also projected to maintain its dominance throughout the forecast period from 2020 to 2027. The major economies of the region including the US and Canada are the major revenue contributors in the regional market. Additionally, the presence of major players like HP Inc, Inkjet, Inc, Lexmark International Inc., Videojet Technologies, Inc., and Xerox corporation among others is additionally bolstering the regional market value.
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Furthermore, Asia Pacific is projected to exhibit the fastest growth over the estimated timeframe from 2020 to 2027. The rapidly developing economies of the region including China and India are supporting the regional market growth. The economic development of the region along with the presence of prominent economies like Japan and its major players like Hitachi and Seiko Epson Corporation among others are contributing to the regional market value. Additionally, the improving economic condition of people along with the spending power is another important factor bolstering the regional market value.
Some of the leading competitors are 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. The major players are continuously involved in strategic developments like new product development, mergers, and acquisition, and partnership and collaborations in order to expand their share in the global as well local market. They are also increasing their investments in marketing channels as the ongoing digitalization across the globe is making the market more competitive and players need to reach the end-users from every possible means.
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Some of the key observations regarding the Inkjet printers industry include:
- In 2021, BlueCrest has launched its rebranded version of Kyocera’s TASKalfa Pro 15000c inkjet production press to the UK market.
- In 2021, Epson has announced its New York-based office equipment supplier and Epson BusinessFirst partner; Green Office Solutions has enlisted its business inkjet solutions with PrecisionCore Heat-Free Technology, particularly to provide innovative and affordable office printing solutions with environmental benefits to clients.
- Mimaki, a Japanese inkjet printer maker has announced Innovation Days, a collaborative virtual event to be held from June 2 - 4, 2021. This initiative is intended to expand its online events program to support and connect with partners and customers globally.
- Zdalny Serwis, a Polish IT services company is accelerating the development of its Duroplast Reactive Inkjet Printing (DRIP) 3D printing technology with the launch of a complete printing system in the last of 2021.
- Xerox Emirates has expanded its partnership with RAK National Printing Press in 2021 through the successful purchase and installation of the world’s first and the most advanced innovation in inkjet technology, Xerox® Baltoro™ HF Inkjet Press with Color Accelerator.
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