The global printer market is expected to witness growth over the forecast period owing to the large-scale use of various printing devices in the U.S., Germany, Japan, China, Mexico, India, and the UK. The printer is an electronic device used to print text and images on various printing media or paper from computers.
The product is categorized into two types based on the ink dot intensity and pixel size into impact and non-impact printers. An impact printer prints images and text and images using a print ribbon that is, in turn, pressed upon a printable surface using pins. However, these are noiseless and doesn’t use the conventional way of printing. By print technology, a product is classified as laser, thermal, inkjet and dot matrix printers.
Laser printers make use of drums that use a different technology and electrically roll charged beam onto the printable material. Inkjet printers form images by the virtue of dropping small droplets of ink through nozzles on the paper. Growing technology demand owing to its printing technique coupled with the clarity, fineness, and smoothness achieved on account of high resolution is expected to augment market growth over the forecast period. Also, inkjet printers are cheaper and also provide photographic printing capabilities when compared to other technologies available in the market, which will propel its demand over the next seven years. The third type of printer is the large or wide format printer that fulfills the need for graphic requisites of the numerous applications such as banners, signages, bill boards and apparels.
Growing advantages such as the ability to print on large format digital printers and the high quality of pictures owing to improved sharpness and the color intensity will augment industry size over the forecast period. Large format printers have wide spread use in printing industry which will spur demand over the forecast period. However, high costs of the equipment are expected to hinder industry growth over the forecast period.
3D printing, commonly known as additive printing uses a variety of printing materials and allows suppliers to develop objects on digital files. The materials used 3D printing include various types of metals, polymers, and ceramics. Manufacturing complex designs become an easy task on account of methodologies employed by 3D printing. The presence of a broad network of potential prospects for 3D printing is expected to fuel printer market demand over the forecast period.
3D printing market is expected to be driven by the high degree of accuracy, efficient use of raw materials, efficient use of production time and financials, ability to build customized products, competency over traditional techniques and simultaneous use of multiple materials for printing. However, high production cost along with the scarcity of skilled labors act as restraints for the global 3D printer sector.
Asia Pacific will propel market growth in light of growing demand for transportation, retail and hospitality will fuel industry expansion over the forecast period. The dot matrix-based portable printers were broadly used, on account of technological advancements. Increased online retailing, the requirement for the mobile workforce is expected to rise over the upcoming years.
The rising demand in the corporate sector is stimulating the market expansion. Dot-matrix technology is projected to experience high growth in demand on account of applications that prioritize the cost efficiency of the printer over the quality of the print. By end users, the market is segmented into the enterprise and corporate, education sector, printing industry and media, the consumer sector and the public sector
The prominent market players include Brother Industries, Ltd., Seiko Epson Corp., Epson (Japan), HP (U.S.), Roland (Japan), Hewlett-Packard Development Co. LP, Ricoh (Japan) and Canon (Japan) and Samsung Electronics Co. Ltd.
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The global electronics devices market (including consumer electronics and industrial electronics devices) is expected to be impacted significantly by COVID-19 as China is one of the major suppliers for the raw materials (used to manufacture devices) as well as the finished products. The industry is on the brink of facing a reduction in production, disruption in supply, and price fluctuations. While this can vastly encourage local manufacturers to step up and address the growing demand, the scarcity of raw material can still pose a challenge to this industry. The sales of prominent electronic companies is expected to be affected in the near future. The report will account for Covid19 as a key market contributor.