Printer Market Size is Predicted to Reach US$ 64.7 Billion by 2028

Industry Overview of Printer Market
A printer refers to an external hardware output device that usually converts electronic data, such as images and text, from a computer or other device into a hard copy. It is reliable and efficient and offers customizable results, high-quality output, easy accessibility, etc. As a result, a printer finds wide-ranging applications in media and entertainment (M&E), corporate, education, and public sectors. In addition to this, it is also extensively utilized in information systems, archaeology, aerospace engineering, dentistry, biotechnology, etc., across countries.

How Big Is the Printer Market?
The global printer market size reached US$ 47.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 64.7 Billion by 2028, exhibiting a growth rate (CAGR) of 5.07% during 2023-2028.

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Global Industry Trends and Drivers:
The increasing demand for high-quality pictures among individuals and continuous technological advancements are primarily driving the printer market. Additionally, the rising improvements in educational facilities, on account of the elevating investments by government bodies across countries, are resulting in the growing sales of this device for printing learning and teaching materials, which is further augmenting the market growth. Besides this, the widespread adoption of large format printers for printing professional data and business presentations and the escalating number of small and medium-sized enterprises are acting as significant growth-inducing factors. Moreover, printers aid in printing several important documents, such as employee information, accounting files, company policies, etc., in the corporate sector, thereby positively influencing the global market. Apart from this, leading manufacturers are also focusing on strategic collaborations and mergers and acquisitions (M&A) to increase their overall sales. Furthermore, they are integrating advanced technologies to introduce drip-free refilling mechanisms and affordable product variants with reduced printing interruptions, which is anticipated to fuel the printer market over the forecasted period.

What Is Included In Market Segmentation?
The report has been segmented the market into following categories:
Breakup by Printer Type:
Multi-Functional
Standalone

Breakup by Technology Type:
Dot Matrix Printer
Inkjet Printer
LED Printer
Thermal Printer
Laser Printer

Breakup by Printer Interface:
Wired
Wireless

Breakup by End User:
Residential
Commercial
Educational Institutions
Enterprises
Government
Others

Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

The report provides a comprehensive analysis of the industry key players listed below:
Brother Industries Ltd., Canon Inc., FUJIFILM Corporation, Fujitsu Limited, Hitachi Ltd., Honeywell International Inc., HP Inc., Konica Minolta Inc., KYOCERA Corporation, Panasonic Corporation, Ricoh Company Ltd., Roland DG Corporation, Seiko Epson Corporation, Toshiba Corporation and Xerox Corporation.

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This release was published on openPR.