Global Printer Market to 2026 - Multifunctional Printers Adoption Expected to Grow Significantly - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Printer Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

The Global Printer Market accounted for USD 42.35 billion in revenue for 2020. It is expected to reach USD 54.83 billion by 2026, registering a CAGR of 4.55% during 2021-2026.

Companies Mentioned

• HP Inc.
• Canon, Inc.
• Seiko Epson Corporation
• Brother Industries, Ltd.
• Xerox Corporation
• Fujifilm Holdings Corporation
• Konica Minolta Inc.
• Roland DG Corporation
• Ricoh Company Ltd.
• Fujitsu Ltd.
• Panasonic Corporation
• Toshiba Corporation

Key Market Trends

Multifunctional Printers Adoption Expected to Grow Significantly

• The demand for MFP's has grown considerably over the past few years as consumers have become more energy neutral. The energy needs of several standalone printers in a workplace are high, forcing organizations to develop print management strategies that included upgrading their equipment and managing their print, copy, and mail center.
• Companies like Ricoh, HP, Canon, and EPSON regularly invest in R&D and constantly battle to improve their offerings. For instance, in January 2021, Ricoh released the monochrome RICOH IM 9000/8000/7000, reflecting an all-around representation of all the critical offerings in their advanced MFP lineup. To rival this, in April 2021, Epson released the WorkForce Enterprise WF-M21000 monochrome A3 multifunction printer that prints at 100 ISO ppm.
• MFPs are also more secure than standalone printers. Since they utilize reduce a smaller number of units and reduced variability of machines, the risks are low, making it more accessible for IT staff to secure than individual desktop printers.
• Japan observed a major fall in MFP print volume in April and May of 2020, while Thailand's MFP print volume was significantly impacted during April, May, and July of 2020. Vendors in the market were largely dependent on the services revenue rather than printing products revenue during the pandemic.

Asia-Pacific Region to Show Significant Growth

• Asia-Pacific is witnessing increased demand in the printer market as many prominent market players are operating in the region. Japan is the home to many such market players, which is also a domestic market for the companies such as Canon Inc., Seiko Epson Corporation, Ricoh Co., Ltd, Fujifilm Holdings Corporation, Brother Industries Ltd, etc.
• Printing hardware sales of the region declined due to constraints in customer businesses, which resulted in sales of related consumables fall. Market vendors witnessed increased sales of inkjet printers due to capturing demand for working and learning from home in countries including China and Japan and the recovery in the market in some emerging countries across education and remote working conditions.
• The region end-users are also adopting new technologies for their printing requirements. Market vendors are also focussing on extending their reach in developing countries like India. For instance, in September 2020, Canon India announced that Replika Press Pvt. Ltd. installed the VarioPrint i300, a B3 sheet-fed inkjet color digital printer. Replika Press became the first company in India to install the solution, an advanced inkjet technology.
• Moreover, in January 2021, Pantum, a developer and manufacturer of laser printers and printing solutions, announced the launch of the Elite Series printer, including the color laser printer model and A4 laser printer in the Indian market.
• Commercial and promotional printing, such as calendars, diaries, brochures, catalogs, etc., have been severely impacted, as many companies have switched to digital. For instance, Life Insurance Company (LIC) called off printing diaries in 2020, and many other government departments and companies followed the same

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET INSIGHTS

4.1 Market Overview

4.2 Industry Attractiveness - Porter's Five Force Analysisz

4.3 Industry Value Chain Analysis

4.4 Impact of COVID -19 on the Market

5 MARKET DYNAMICS

5.1 Market Drivers

5.1.1 Technological Advancements and Product/Service Enhancement in Business End Use Sector

5.2 Market Restraints

5.2.1 Environmental Concerns and Growing Digitization in End-User Verticals

6 MARKET SEGMENTATION

6.1 By Printer Type

6.1.1 Multi-Functional

6.1.2 Standalone

6.2 By Technology Type

6.2.1 Dot Matrix Printer

6.2.2 Inkjet Printer

6.2.3 LED Printer

6.2.4 Thermal Printer

6.2.5 Laser Printer

6.3 By Printer Interface

6.3.1 Wired

6.3.2 Wireless

6.4 By Output Type

6.4.1 Color

6.4.2 Monochrome

6.5 By End-user Applications

6.5.1 Residential

6.5.2 Commercial

6.5.3 Educational Institutions

6.5.4 Enterprises

6.5.5 Government

6.5.6 Other End-User Applications

6.6 Geography

6.6.1 North America

6.6.2 Europe

6.6.3 Asia-Pacific

6.6.4 Latin America

6.6.5 Middle East and Africa

7 COMPETITIVE LANDSCAPE

7.1 Company Profiles

8 INVESTMENT ANALYSIS

9 FUTURE OF THE MARKET

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