LONDON--(BUSINESS WIRE)--Technavio projects the global MEMS inkjet heads market to post a CAGR of close to 2% during the forecast period, 2018-2022. The growth momentum of the market is expected to decelerate with a gradual decline in the year-on-year growth. However, increased demand for multifunction printers (MFPs) is a key driver, which is expected to positively impact market growth.
An MFP incorporates the functionality of multiple devices such as printers, photocopiers, fax machines, and scanners with additional features such as network document storage (with security), authentication of network user's credentials, ability to run custom software (manufacturers often supply a software development kit), advanced network scan destinations (FTP, WebDAV, e-mail, SMB, and NFS stores), and encryption for data transmission. These features allow organizations to store and access their documents on the network at reduced costs. It also helps organizations to generate a smaller carbon footprint by saving on electricity consumption.
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In this report, Technavio highlights the growing demand for digital printing as one of the key emerging trends to drive the global MEMS inkjet heads market:
Growing demand for digital printing
The replacement of traditional printing methods with digital printing has contributed to the global MEMS inkjet heads market to a certain extent. The only major difference between digital printing and traditional printing methods, such as lithography, flexography, gravure, or letterpress, is the need to replace printing plates. Unlike traditional printing, digital printing does not require replacement of printing plates. This results in quicker turnaround time and reduces the overall cost of printing. Digital printing also provides customers, especially publishers, with more flexibility, greater inventory turnover, and higher profitability.
According to a senior analyst at Technavio for embedded systems research, “In 2017, digital printing accounted for 15% share of the total page output volume, which is expected to increase to over 40% by the end of the forecast period. The fastest growing application of digital printing during the forecast period will be photobook printing, which includes printing of memory books and calendars.”
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Market segmentation and analysis through 2022
This market research report segments the global MEMS inkjet heads market based on end-user (commercial and industrial, and consumer), by technology (thermal inkjet heads and piezo inkjet heads) and key regions (the Americas, APAC, and EMEA).
The commercial and industrial sector held close to 67% share of the market in 2017. With 3D printing technology gaining traction in the manufacturing industry, the demand for printers will be high from this sector.
In 2017, the global MEMS inkjet heads market was led by the Americas which accounted for more than 37% of the market share, followed by APAC and EMEA. The market share of APAC is expected to increase by more than 2% over the forecast period due to improving economic conditions and growing industrial momentum.
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