The Inkjet Printers Market research report provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets. It also offers in-depth examination about new product launches, recent developments, untapped geographies, and recent developments. Moreover, the report also provides intelligent insights on future technologies, R&D activities, and breakthrough product developments.
Inkjet Printers Market, By Technology (CIJ Printer, DOD Inkjet Printer, UV Inkjet Printer), Type, End User, and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
Inkjet Printers Market Overview
The global Inkjet Printers Market size was estimated at USD 97 billion in 2023 and is projected to reach USD 178.7 billion in 2030 at a CAGR of 9.12% during the forecast period 2023-2030.
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Inkjet printers are a type of non-contact printing devices that utilize droplets of ink ejected through nozzles on paper and plastic substrates to recreate digital images. The technology underlying inkjet printers involves ionized ink, which is directed via magnetic plates to spray onto the paper. The applications of these printers span across several industries, including but not limited to advertising, textiles, packaging, education, and pharmaceuticals.
The growth of the global Inkjet Printers market is mainly driven by the packaging industry as it is currently experiencing swift expansion worldwide, primarily due to the substantial demand for convenience-based packaging from various industries including e-commerce transportation and shipment, food and beverage, personal care, household care, and healthcare. Such growth is inducing a substantial requirement for inkjet printers specifically designed for packaging purposes, which represents one of the primary factors propelling the market forward.
On the other hand, the cost of consumables may hamper the market growth to some extent.
The segments of packaging, labeling, and printing have demonstrated a considerable degree of stability during the COVID-19 period. This is primarily attributed to the rise in demand for food and pharmaceutical packaging. However, the outbreak of COVID-19 has caused disruption in the supply chain across various end-user industries, including healthcare, food and beverage, and industrial sectors. Despite the pandemic's significant impact on the economy, inkjet printing companies have been able to meet the demand for COVID-19-related printed advertisements through the utilization of web-to-print technology. Such advertisements are used for conveying all business-customer matters pertaining to the COVID-19 pandemic.
Delvens Industry Expert's Standpoint
The pandemic had a considerable impact on businesses globally, with nations like India and China bearing the brunt of the virus's outbreak. There has been a considerable demand for packaging in various sectors, including e-commerce transportation and shipment, personal care, household care, food and beverage, and healthcare. This upsurge in the packaging industry is propelling the growth of inkjet printers utilized for packaging purposes, which is one of the primary factors driving the market's expansion. Inkjet printers are widely used in diverse industries, including packaging, education, advertisement, textile, and pharmaceutical. Furthermore, the advertising industry's significant growth, coupled with the need for higher print quality and better print resolution, is projected to fuel the market's growth. The advertising industry utilizes large format printers to manufacture posters, signage boards, banners, billboards, and hoardings containing detailed information such as graphics, images, and logos to attract customers' attention. Consequently, the advertising industry's growth will make a substantial contribution to the inkjet printer market's expansion. These factors have led to the expansion of the market and increased demand for Inkjet Printers solutions
Inkjet Printers Market Key Findings
- The Type segment is further fragmented Multifunctional, Desktop, Large Format, Inkjet Press, Industrial, Textile and Others. The multifunctional printer segment is expected to account for a larger market size during the forecast period. It can be attributed to the comprehensive characteristics of multifunctional printers, which possess high-speed capabilities as well as the capacity to perform a variety of functions, including copying, printing, scanning, and faxing, all within a single machine, while still being cost-effective. Moreover, the healthcare industry's increasing demand for multifunctional printers is expected to have a significant positive impact on the market in the years to come. This is due to the need to securely and promptly share and store patient information in digital form, which is driving the demand for such printers. For instance, Xerox Corporation's multifunctional printers enable healthcare providers to safely transmit and receive critical patient data via a secure electronic platform.
- The Technology type segment is further bifurcated into CIJ Printer, DOD Inkjet Printer, UV Inkjet Printer. The Continuous Ink Jet (CIJ) printer is the largest market during the forecast period. Technology-oriented printers employ closed cartridge-based mechanisms for ink administration, streamlining the replacement process while simultaneously mitigating spillage risks. Consequently, the proclivity of end users towards the Continuous Ink Jet (CIJ) printer is expected to bolster market demand in the years ahead.
- The End-user segment is further bifurcated into Consumer, Education, Industrial, Textile, Pharmaceutical and Others industrial end-user segment to account for a larger market size during the forecast period The printers' capability to code and mark products at high velocity is facilitated by the expedited drop ejection mechanism. The high velocity allows for distant nozzle positioning, thus enabling manufacturers to design products in diverse sizes and shapes. Additionally, the printers' applicability to cylindrical surfaces enhances their adoption in the cylindrical products industry, comprising small drums, bottles, and pipes.
- The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America is estimated to account for the largest market share during the forecast period as it has been positioned at the forefront of technological advancements, specifically with regard to inkjet printing technology, this subject has been a focal point of innovation and development.
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Inkjet Printers Market Regional Analysis
North America to Dominate the Market
- North America is estimated to account for the largest market share during the forecast period as it has been positioned at the forefront of technological advancements, specifically with regard to inkjet printing technology, this subject has been a focal point of innovation and development.
- Moreover, the strong presence of the key providers inkjet printer technologies is expected to boost the North American market growth.
Inkjet Printers Market Competitive Landscape
- Brother Industries Ltd
- Canon Inc.
- Domino Printing Sciences plc
- Fujifilm Holdings Corporation
- Hitachi Industrial Equipment Systems Co. Ltd
- HP Development Company LP
- Inkjet Inc.
- Jet Inks Private Limited
- Keyence Corporation
- Konica Minolta, Inc.
- Lexmark International Inc.
- Oki Electric Industry Co., Ltd.
- Pannier Corporation
- Ricoh Company, Ltd
- Roland DG Corporation
- Seiko Epson Corporation
- Toshiba Tec Corporation
- Videojet Technologies Inc.
- Xerox Corporation
Recent Developments in The Inkjet Printers Market
- In March 2023, Videojet Technologies, Inc. has introduced the innovative Videojet 1580+ which serves to evaluate fluid consumption and guarantee faultless operation during the printing of dates, codes and other variable data. The newly launched product incorporates an integrated Wi-Fi connectivity system, providing a secure platform for users to communicate with the inkjet printer.
- In February 2023, Mimaki Engineering Co., Ltd. has initiated the release of its inaugural DTF printer, the TxF150-75, alongside the introduction of the heat transfer pigment, PHT50, for DTF in a bid to proactively pursue the apparel and textile printing applications market. This novel printer has eradicated issues related to ink ejection defects and white ink clogging, thereby bolstering its operational stability.
Reasons to Acquire Inkjet Printers Market Report
- Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
- Gain authentic and granular data access for the Inkjet Printers Market to understand the trends and the factors involved in changing market situations.
- Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
- In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
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