Technavio's Printers Market Research Report predicts USD 6.01 Bn growth | Highlights on Vendor Landscape, Key Market Segments, Regions, and Latest Trends and Drivers

NEW YORK, Nov. 10, 2021 /PRNewswire/ -- The latest global printers market research report by Technavio infers that the rising number of educational surfing courses is driving this market's growth.

Resulting in a market growth of USD 6.01 billion from 2020 to 2025, read additional information about the market Fill the form and get a FREE sample report.

Vendor Landscape

The market structure is expected to remain fragmented during the forecast period. Vendors operating in the market are adopting various organic and inorganic growth strategies to remain competitive in the market.

Brother Industries Ltd., Canon Inc., HP Inc., Konica Minolta Inc., Kyocera Corp., Lexmark International Inc., Ricoh Co. Ltd., Seiko Epson Corp., Sharp Corp., and Xerox Corp. are some of the few key vendors of this market. Vendors are competing to maintain their market position in the market. To succeed in this market, vendors must focus on providing printers at competitive prices.

Vendors are also trying to expand their market presence and strengthen their product portfolio by entering partnerships and launching new and innovative products.

For instance, In February 2019, Ricoh and Cisco Systems Inc. entered into a strategic partnership to empower digital workplaces. Cisco will provide cloud security solutions to Ricoh's RICOH IM C Series next-generation multifunction printers and other office devices.

View more about the market's vendor landscape highlights with a comprehensive list of vendors and their offerings.

Key Market Segmentation

• Segmentation by Technology: 
• Laser: 
• The laser segment contributed greatly to the overall market growth in 2020.
• Laser was the largest segment of the market in 2020 and will continue to remain as the largest segment of the market in 2025.  The introduction of low-cost laser printers will fuel the growth of the segment during the forecast period.
• Inkjet
• Others
• Segmentation by Type:
• Multifunction printers:
• In terms of type, the multifunction printers segment generated maximum revenue in the market in 2020.
• Multifunction printers are expected to account for the maximum number of printers sales in the market over the forecast period. The need to reduce the use of paper and simplify printing workflows will be crucial in driving the growth of the segment.
• Single function printers

Request a FREE Sample of this report for more highlights into the market segments.

Regional Market Outlook

APAC is leading the market with a contribution of 69% to the overall market in 2020 and would increase its contribution to a notable number of the global printers market by 2025.

APAC will generate growth across all the years of the forecast period between 2020 and 2025. The growing demand for large format printing for advertising, billboards, banners, and posters will drive the market in APAC.

APAC would be the fastest-growing region within the overall market between 2020 and 2025.

Apart from regions, if we look at the country-wise market growth, the US, China, Germany, Japan, and the UK will contribute to the highest market growth.

Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.

Latest Trends, Driving the Global Printers Market

• Printers Market Driver:
• Rising demand from SMEs
  Countries such as India, China, Germany, and the UK are witnessing strong growth in the number of SMEs. The rise in the number of SMEs is leading to increased investments in various solutions that help businesses meet their requirements at a minimal cost. This has subsequently increased the demand for printers from SMEs, which is driving the market growth.
• Printers Market Trend:
• Emergence of ink tank printers:
  Ink-tank printers are increasingly becoming popular among end-users owing to their high print quality, cost benefits, and high speed of printing. The cost of an ink tank printer is comparatively higher than an inkjet printer. But the running cost and the cost per print are lower compared to with other printers. Also, they have longer lifecycles as they are made up of durable materials. Their growing popularity is encouraging vendors in the market to introduce ink tank printers with added features. This trend is expected to have a positive impact on the market growth during the forecast period.

Find additional information about various other market drivers & trends mentioned in our FREE sample report.

Need More? Are You Looking for Information Not Covered in This Report?

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• Evaluate a specific segment or region in detail
• Identify key suppliers, customers, or other market players
• Analyze market regulations

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Related Reports:

Global Large Format Printers Market – Global large format printers market is segmented by technology (aqueous, solvent, UV-cured, and latex) and geography (APAC, North America, Europe, South America, and MEA).
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Global Multi-functional Printer Market – Global multifunctional printer market is segmented by Technology (Inkjet and Laser) and Geography (APAC, Europe, North America, MEA, and South America).
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