Electronics
Printers Market Evolving with Latest Technologies in Information Technology Sector
After the Great Recession ended in June 2009, the Printers Market flourished considerably. Center for Print Economics and Management & Government Affairs and Advocacy states that 2019 will have modest growth in the printers market, with total print revenues increasing around 1% to 2%, and the total sales are estimated to grow at 1% to 2%. The printers market is growing due to the consistent demand from the IT industry. Printers have evolved from Daisy-Wheel Printers, Line Printers and Dot- Matrix Printers to Laser Printers, and HD Printers.
As per the findings of a newly published market research report by IndustryARC, the global printers market size was over $100 billion in 2018, and the growth rate is estimated to be -3% to -5% during the forecast period of 2019 to 2025. APAC has subjugated in the market with the regional demand share of 30% to 35% as of 2018. The key application market segment is the textile industry, expanding at a CAGR of 5% to 6% during the forecast period of 2019 to 2025. The report is titled “Printers Market: By Type (Impact Printers, Non-Impact Printers& Others); By Production Method (Offset, Web Based, Gravure, Flexo & Others); By Application (Chemical, Education, Medical, Office Solutions, Interior Designing & Others); By Geography - Forecast (2019-2025)”,
Printers Market Companies: Recent Developments
There are some recent developments that are happening in the market by the major key players:
- Hewlett Packard Enterprise- In partnership with Konica Minolta, in March 2019, HP launched its new IT solution, Workplace Hub. An all in one device and each Hub will have a multifunction printer, data storage, and HP Enterprise server. This will set up a trend of a new multifunctional printer in the printers market.
- Seiko Epson- In 2018, the company had opened a new inkjet print head plant in Shiojiri, Japan. This plant will be used for the production of Precision core print chips. The factory opened its operations in March 2018. The company released high-speed line head inkjet multifunction office printers as a major part of its growth strategy.
- Ricoh – In February 2019, Ricoh announced the launch of new industrial inkjet printhead RICOH MH5320/5340/5320 Type A*1. This will be commercially available from April 2019.
- Canon – In December 2018, Canon introduced large- format inkjet printer, for printing out CAD drawings for buildings such as office designs, making enlarged prints of photographs, and producing posters at shops at A0 and B0 sizes.
- Xerox- In February 2019, Xerox signed a secured renewable contract with American Electric Power for bringing added efficiencies and security to the documents of AEP management infrastructure from Xerox’s managed print services and Connectkey technology. With this AEP will have a benefit from MPS insights related to print output, supplies, and support and the use of documents, and this will eminently position the organization in the printers market.
- Brother- Cybertill partnered with Brother UK in January 2019, to simplify sales and gift aid for charity retailers. The solution can now be integrated with Brother TD-2120N desktop label printer.
- Functional Printing Market
- Large Format Inkjet Printers Market
