The global inkjet printers market is anticipated to reach a valuation of US$ 59.1 billion in 2023, driven by growing demand for UV-curable inks. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 6.7% between 2023 and 2033, and reaching a total valuation of approximately US$ 113.1 billion by 2033.
One of the primary factors driving the growth of the inkjet printers market include the continuous technological advancements in inkjet printing technology. Inkjet printers have witnessed remarkable improvements in printing speed, print quality, and versatility. Advanced printhead technology, higher resolution capabilities, and the ability to print on a wide range of substrates have expanded the application scope of inkjet printers. The advancements are expected to drive the adoption of inkjet printers in industries such as advertising, packaging, textiles, and signage.
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A significant factor contributing to market growth is the growing demand for digital printing. There is a rising need for printers that can deliver high-quality prints with shorter turnaround times and customization options, with the shift from traditional analog printing methods to digital printing. Inkjet printers, with their ability to produce vibrant colors and precise details, are well-suited for digital printing applications. They offer cost-effective printing solutions for small to medium print runs and find extensive usage in various industries, including advertising, publishing, and packaging.
The increased adoption of inkjet printers in industrial printing applications is also accelerating market growth. Industries such as pharmaceuticals, food and beverage, and logistics require efficient and reliable printing solutions for product labeling, coding, marking, and packaging. Inkjet printers offer the capability to print variable data, including barcodes, QR codes, and serial numbers, on different substrates. The versatility makes them highly valuable in industrial applications where accuracy and durability are crucial. As the demand for industrial printing solutions continues to rise, the inkjet printers market is expected to witness substantial growth.
Key Takeaways from the Market Study
- Global inkjet printers market was valued at US$ 55.4 billion by 2022-end.
· From 2018 to 2022, the market demand expanded at a CAGR of 5.9%.
· China is expected to hold a dominant CAGR of 7.7% during the forecast period.
- By printer type, the large format printers segment is expected to constitute a CAGR of 6.6% in 2033.
- On the basis of end-user industry, the institutional segment is expected to dominate the market with a CAGR of 6.5% in 2033.
· From 2023 to 2033, inkjet printers market is expected to flourish at a CAGR of 6.7%.
· By 2033, the market value of inkjet printers is expected to reach US$ 113.1 billion.
Rising popularity of eco-friendly printing solutions, across the globe is a major factor that is expected to propel the growth of the inkjet printers market in the near future, remarks an FMI analyst.
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Competitive Landscape
Prominent players in the inkjet printers market are HP Inc., Canon Inc., Seiko Epson Corporation, Domino Printing Sciences plc, Brothers Industries Ltd., Hitachi Industrial Equipment Systems Co., Ltd., Inkjet Inc., Xerox Corporation, Videojet Technologies, Inc., Markem-Imaje Corporation, and Lexmark International, Inc., among others.
Recent Developments
· In 2020, Epson introduced the SureColor P-Series printers, including the SureColor P7570 and P9570, featuring advanced PrecisionCore printhead technology and UltraChrome PRO12 pigment ink for professional photo and fine art printing.
· In 2020, HP introduced the HP Stitch S1000, a dye-sublimation printer designed for textile and soft signage printing, offering fast production speeds and vibrant colors.
· In the same year, Canon introduced the imagePRESS C165, a compact inkjet color press with high-quality output and versatile media handling capabilities.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global inkjet printers market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the inkjet printers market, the market is segmented on the basis of printer type (single functional printers, multi-functional printers, large format printers, industrial inkjet printers, textile inkjet printers, and inkjet press), by technology type (continuous inkjet, and drop on demand), by substrate (plastic, metal, paper, fabric, ceramic, and others), and by end-use industry (consumer, institutional, and industrial), across five major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).
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