Latest News- Printers Market: Laser is expected to lead the Technology segment during 2025-2029

The Printers Market is being driven by Rising demand for printers from SMEs

The Printers Market is expected to grow at a CAGR of 3.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 11246.6 million. The global printers market is witnessing a notable shift towards 3D printing technology, bringing about transformative effects across diverse industries. Initially confined to prototyping, 3D printing has matured into a robust manufacturing solution, delivering unmatched versatility and customization. Healthcare is one such sector reaping substantial benefits, with 3D printing enabling the production of customized medical implants, prosthetics, and surgical models, thereby revolutionizing patient care and improving treatment outcomes. In the aerospace and automotive sectors, 3D printing is streamlining manufacturing processes by producing lightweight, intricate parts with reduced lead times and costs, ultimately enhancing the performance and fuel efficiency of aircraft and automobiles. Similarly, in architecture and construction, 3D printing is expediting design and building processes through the rapid prototyping of architectural models and creation of intricate structures. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Technology
  • Laser
  • Inkjet
  • Others
• Type
  • Multifunction printers
  • Single function printers
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • North America
    • US
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising demand for printers from SMEs
• Growing demand for large-format printers from textile and advertising industries
• Increasing demand for compact portable printers

However, the market also witnesses some limitations, which are as follows:

• Increased digitization in enterprises
• Growth of PaaS business model
• Availability of refurbished and counterfeit printers and printer supplies

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Market Scope in Printers Market Research Report

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Research Analysis Overview

The printing market encompasses various printers, including mobile printing solutions, color printers, and packaging printing equipment. Entry-level printers like A4 printers are popular, while cloud-based computing and software ecosystems facilitate seamless printing. Inkjet printing utilizes diverse inks, such as solvent inks, within an inkjet printer, which functions as an electronic tool for converting text and images into printed documents on paper using electronic data from computers or devices via data cables, USB, or short-range radio technologies like Bluetooth. Hardware advancements have led to innovative output technologies, enhancing the versatility of printers as computer peripherals for producing documents, photos, and more.

Market Research Overview

The printing market is a significant segment of the global technology hardware, storage, and peripherals industry, encompassing printers, mobile printing, color printing, packaging printing, and related technologies. Technavio, a leading technology research firm, positions this market within the larger context of the global IT hardware, storage, and peripherals sector. Key components of this market include entry-level printers such as A4 models, cloud-based computing, software, and an ecosystem of inks. Drivers for market expansion include the increasing volume, velocity, veracity, and variety (4Vs) of data, necessitating advanced data storage solutions. Technavio's market analysis covers inkjet and analog printing technologies, utilizing solvent, water-based, UV-based, and LED inks, as well as digital printing methods. Market growth is influenced by factors like the proliferation of data centers, the need for cost-effective ink solutions, and the integration of advanced software and cloud-based services.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/