Press release
Printers Market Size, Share & Industry Analysis (2024-2032)
Printers Market
- Valued at USD 51.08 billion in 2023, rising to USD 51.97 billion in 2024, and expected to reach USD 65.50 billion by 2032
- Projected CAGR of 2.9% between 2024 and 2032
What Types of Printers Dominate the Market?
- Inkjet Printers lead in revenue due to versatility, affordability, and strong home and small-business adoption-driven by remote work and e-commerce expansion
- Laser Printers maintain steady demand especially in educational institutions and government usage, also benefiting from energy-efficient launches
- LED Printers grow at a moderate pace due to long durability, low maintenance, and rising use in logistics and retail
- Dot Matrix/Other Printers still grow modestly in niche applications-valued for simplicity, multiple copy printing, and low maintenance
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How Is Technology Impacting the Printers Market?
- Server-Based Printing: Dominates the market in 2023, widely used in government, banking, and large corporations needing centralized print management
- Serverless/Cloud Printing: Growing rapidly as mobile and remote work increases, especially in North America and Latin America. These printers offer driver-less experience and flexible network access
- AI and IoT Integration: In September 2024, HP launched HP Print AI, featuring "Perfect Output" to reduce color errors and white-space issues. Seiko Epson integrated cloud capabilities with Loftware for direct cloud prints in late 2023. These advancements improve user experience and sustainability
Market Trends & Growth Drivers
- Remote & Hybrid Work: Rising demand for home office printers as remote work becomes mainstream-particularly in education, residential, and small businesses
- Multifunctional Printers (MFPs): Increasing adoption of models that print, scan, copy, and connect wirelessly
- Sustainability Focus: Rising demand for eco-friendly printers-e.g., HP's TerraJet toner reduces energy consumption by up to 27%; new energy-efficient printers introduced across brands
- Loyalty to Inkjet: Favored by e-commerce users for labels and packaging due to affordability and flexibility
What's Restricting Growth?
- Shift Toward Paperless Workflows: Businesses increasingly adopt cloud storage, digital documentation, and electronic communication-reducing need for printed materials
- Decline in High-Volume Printing Demand: Particularly in developed markets where digital transformation accelerates
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Regional Forecasts & Leading Markets
- North America: Market dominated regionally in 2023 with USD 18.93 billion, led by U.S. e-commerce growth and digital adoption
- Asia Pacific: Steady growth expected-China leads via strong multifunction printer demand and smart office solutions; Fujifilm and Canon introduced energy-efficient models with voice control and IoT
- Europe: Moderate growth driven by environmental regulations and rising demand for customized solutions in Germany, France, and Poland
- Middle East & Africa: Market growth backed by urbanization and digital initiatives across GCC and South Africa
- South America: Steady expansion via rising e-commerce, growing middle class, and printing needs in Brazil, Argentina, and Chile
Key Industry Players & Recent Product Launches
Major Industry Leaders: HP Inc., Seiko Epson Corporation, Canon Inc., Brother Industries, Konica Minolta, Xerox Corporation, Ricoh, Kyocera, Ninestar, Colorjet Group, Lexmark, Sharp, Fujifilm, Toshiba Tec, Oki, Linx Printing Technologies, Avision, Control Print
Notable Developments:
- Sept 2024: Epson launched UV desktop UV printer V1070 targeting small business cost efficiency
- Aug 2024: Brother introduced a new laser printer series optimized for SMBs and SOHO users
-July 2024: Xerox launched Altalink C8200/B8200 MFPs with AI features like automatic document summarization and redaction
-May 2024: Canon India unveiled high-precision LUCIA PRO II pigment printers aimed at graphics and wide-format printing
- Feb 2024: HP released Officejet Pro series for SMBs in India, emphasizing sustainable and efficient printing solutions
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Frequently Asked Questions
- What was the global printers market worth in 2023?
USD 51.08 billion
- What is the market forecast by 2032?
USD 65.50 billion
- What is the CAGR for 2024-2032?
2.9%
- Which region led the market in 2023?
North America with a 37.06% share (USD 18.93 billion)
- Which printer type dominated in 2023?
Inkjet printers (high revenue share)
- What are key growth enablers?
Remote/hybrid work, eco-focused printing innovations, multifunctional & cloud solutions
- Which companies lead the global printer market?
HP, Canon, Epson, Brother, Xerox, Ricoh, Kyocera, and others listed above
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Fortune Business InsightsTM provides strategic corporate analysis and precise data, assisting organizations of all sizes promptly to make well-informed decisions. Our reports combine comprehensive market studies enriched with relevant data crafted by our seasoned analysts and consultants utilizing industry-leading research tools and methodologies. To this end, we offer services that are designed to help organizations uncover hidden opportunities and comprehend existing competitive challenges.
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