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The global Inkjet Printers market size is expected to be worth around US$ 53 billion by 2027, according to a new report by Vision Research Reports.

The global Inkjet Printers market size was valued at US$ 34.22 billion in 2019 and is anticipated to grow at a CAGR of 6.5% during forecast period 2020 to 2027.

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Growth Factors

The packaging industry is witnessing a rapid growth across the globe due to huge demand from the e-commerce transport and shipment, food and beverages, personal care, household care, and healthcare industries for convenience-based packaging. This growth is creating a massive demand for inkjet printers for packaging purposes, which one of the major factors driving the market.

The rapidly growing advertisement industry, coupled with increasing demand for higher print resolution and better print quality, is anticipated to drive market growth. Large format printers are used majorly to advertise products on banners, posters, signage boards, billboards, and hoardings. Banners and billboards consist of detailed information including images, graphics, and logos to capture the attention of viewers. Thus, marketers prefer large format printers to print visual campaigns-including graphic-rich posters and banner advertisements with high-quality images-for display in offices or public spaces. It gives advertising and marketing professionals the power to develop brand awareness and improve visibility for a product/ service in a specific industry. Furthermore, large format printers are used by photographers to print photographs without pixel split, proper color, and combination on any substrate.

Report Highlights

The multifunctional printer segment accounted for the largest revenue share of 24.62% in 2019 and is expected to grow considerably over the forecast period.

Moreover, multifunctional printers are widely used across corporate offices and academic institutions, such as colleges and schools.

The Continuous Ink Jet (CIJ) printer segment accounted for the largest revenue share of 37.70% in 2019 and is expected to grow considerably over the forecast period.

Printers with Drop on Demand (DOD) inkjet technology are expected to emerge as the fastest-growing segment over the forecast period.

The industrial end-user segment accounted for the largest revenue share of 24.12% in 2019 and is expected to grow with the highest growth rate of 6.9% over the forecast period.

The industrial segment comprises of packaging, publishing, and photography. The packaging segment accounted for the largest revenue share of 54.54% in 2019 and is anticipated to continue its dominance in the forthcoming years.

North America accounted for the largest revenue share of 29.21% in 2019. This is attributed to the presence of prominent players in the region, including Videojet Technologies, Inc.; Xerox Corporation; Inkjet Inc.; and KEYENCE CORPORATION, is also a key growth driver. U.S. dominates the North America region in the current scenario, due to an increasing number of pharmaceutical stores.

Asia Pacific is expected to emerge as the fastest-growing regional segment over the forecast period. The growth is attributed to the substantial opportunities based on low labor cost and low manufacturing cost, which makes Asia-Pacific a prominent location for setting up production plants mass production of inkjet printers.

Key Players

• Videojet Technologies, Inc.
• Pannier Corporation
• Canon Singapore Pte. Ltd.
• HP Development Company, L.P.
• Xerox Corporation
• Brother Industries, Ltd.
• KEYENCE CORPORATION
• Konica Minolta, Inc.
• Seiko Epson Corporation

Market Segmentation