The global printers market size is poised to grow by USD 6.91 billion during 2020-2024, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Global Printers Market 2020-2024 (Graphic: Business Wire)
The dynamic nature of the fashion industry has boosted the demand for printers in the textile industry. The textile industry is increasingly adopting large format printers for printing innovative and creative designs on festive event banners, team jerseys, wallpaper, clothes, and home furnishing products. These printers also allow companies to develop and change advertising strategies easily as per their requirements. Several printer companies are launching new large format printers to cater to the needs of the textile and advertising and marketing industries. This rising popularity of large format printers is expected to boost the growth of the printers market during the next five years.
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The major printers market growth came from the multifunction printers segment. Customers prefer multifunction printers because of their several advantages over single-function or stand-alone printers. The rising number of SMEs and startups and increasing demand for multifunction printers from the education and healthcare sector will drive the growth of the printers market in this segment.
APAC is one of the largest markets for printers, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as the increasing IT investments by SMEs, increasing number of SMEs and startups, and rising disposable incomes are expected to contribute to the printers market growth in this region.
The global printers market is fragmented. 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 major market participants. To help clients improve their market position, this printers market forecast report provides a detailed analysis of the market leaders.
As the business impact of COVID-19 spreads, the global printers market 2020-2024 is expected to have Neutral and At par. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/report/printers-market-industry-analysis
Emergence of Ink Tank Printers will be a Key Market Trend
The emergence of ink tank printers will be one of the critical printers market trends contributing to market growth. The popularity of ink tank printers is growing among consumers because of their high print quality, cost benefits, and high speed of printing. Ink tank printers also provide more features than other printers, including USB and LAN connectivity, touchscreen, web printing, and app support. Although the cost of ink tank printers is high, the low cost per print and low running cost will boost the popularity of these printers among end-users. This increasing adoption of ink tank printers is expected to fuel the printers market growth throughout the next five years.
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Printers Market 2020-2024: Key Highlights
CAGR of the market during the forecast period 2020-2024
Detailed information on factors that will assist printers market growth during the next five years
Estimation of the printers market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the printers market
Analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of printers market vendors
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
Market segmentation analysis
PART 04: MARKET SIZING
Methodology for market sizing and vendor selection
Market sizing 2019
Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
PART 06: MARKET SEGMENTATION BY TYPE
Market segmentation by type
Comparison by type
Multifunction printers - Market size and forecast 2019-2024
Single function printers - Market size and forecast 2019-2024
Market opportunity by type
PART 07: MARKET SEGMENTATION BY TECHNOLOGY
Market segmentation by technology
Comparison by technology
Laser - Market size and forecast 2019-2024
Inkjet - Market size and forecast 2019-2024
Others - Market size and forecast 2019-2024
Market opportunity by technology
PART 08: CUSTOMER LANDSCAPE
PART 09: GEOGRAPHIC LANDSCAPE
APAC - Market size and forecast 2019-2024
Europe - Market size and forecast 2019-2024
North America - Market size and forecast 2019-2024
South America - Market size and forecast 2019-2024
MEA - Market size and forecast 2019-2024
Key leading countries
PART 10: DECISION FRAMEWORK
PART 11: DRIVERS AND CHALLENGES
PART 12: MARKET TRENDS
Emergence of ink tank printer
Improving capabilities of printers
Focus on inorganic growth strategies
PART 13: VENDOR LANDSCAPE
PART 14: VENDOR ANALYSIS
Market positioning of vendors
Brother Industries Ltd.
Konica Minolta, Inc.
Lexmark International Inc.
Ricoh Co. Ltd.
Seiko Epson Corp.
PART 15: APPENDIX
List of abbreviations
Definition of market positioning of vendors
PART 16: EXPLORE TECHNAVIO
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201005005519/en/