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Global Production Printers Market Projected to Grow at 6% CAGR, Reaching $9.53 Billion by 2029
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.What Will the Production Printers Industry Market Size Be by 2025?
In recent times, the size of the production printers market has exhibited significant growth. Expected to expand from a size of $7.1 billion in 2024, it is predicted to reach $7.56 billion in 2025, with a compound annual growth rate (CAGR) of 6.5%. The reasons for this growth during the historic period include cost-effectiveness, a surge in demand for personalized printing, advancements in technology, the rise of digital printing, and wider application scopes.
What's the Long-Term Growth Forecast for the Production Printers Market Size Through 2029?
In the coming years, the production printers market is set to experience significant expansion, with projections indicating a growth to $9.53 billion by 2029 - a compound annual growth rate (CAGR) of 6.0%. The increase during this forecast period is expected to be driven by several factors including sustainability efforts, the integration of IoT and cloud technologies, the growing popularity of additive manufacturing, the advent of hybrid printing solutions and a need for high-speed production features. Key trends during this period will include the use of UV-curable inks, a move towards on-demand and short-run printing, an enhanced emphasis on automation and robotics, the expansion of the textile and garment printing segment, and a surge in demand for 3D printing within prototyping and manufacturing.
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What Are the Key Growth Drivers Fueling the Production Printers Market Expansion?
The surge in the demand for e-commerce is predicted to fuel the expansion of the production printer sector. E-commerce is the exchange of goods and services via the internet or other digital platforms, and its growth is driven by technology innovations, evolving consumer habits, and worldwide economic patterns. Production printers contribute to efficient printing processes, tailored customer experiences, and flexible marketing strategies, all critical for the growth and success of e-commerce businesses. These companies often need instant printing solutions to meet customized orders and print products based on client preferences. Production printers allow the printing of custom-made items such as clothing, accessories, and promotional materials on demand, enabling firms to provide customized solutions to their customers without maintaining substantial inventory reserves. For example, retail e-commerce sales in Canada were forecasted to hit US$40.3 billion by 2025, an increase from US$2.34 billion in March 2022, according to the International Trade Administration, a US government agency, in April 2024. Hence, the escalating demand for e-commerce is set to steer the growth of the production printer industry.
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What Trends Will Shape the Production Printers Market Through 2029 and Beyond?
Key players in the production printers market, such as HP Inc., are honing their market position by creating cutting-edge technologies within the latex range, including the HP Latex 630 printer. The strategic innovation of this printer lies in its utilization of products or materials formulated with latex. In September 2023, HP Inc., a tech enterprise based in the USA, introduced the HP Latex 630 printer series to the market, setting itself apart with its groundbreaking white ink capacities. The printer series provides a range of white print modes with varied densities for optimal opacity levels, from spot to 3-layer printing with up to 260% white ink density. Additionally, the series prioritizes sustainable solutions, as demonstrated by the HP Latex inks, composed of up to 65% water. This design choice actively mitigates the risks tied to UV printing and ensures exemplary health and safety performance.
How Is the Production Printers Market Segmented?
The production printers market covered in this report is segmented -
1) By Type: Monochrome, Color
2) By Production Method: Cut Feed, Continuous Feed
3) By Technology: Inkjet, Toner
3) By Application: Commercial, Publishing, Labels And Package, Other Applications
Subsegments:
1) By Monochrome: Black And White Printers, Digital Monochrome Printers, High-Speed Monochrome Printers, Monochrome Inkjet Printers, Monochrome Laser Printers
2) By Color: Digital Color Printers, Color Inkjet Printers, Color Laser Printers, High-Quality Color Printers, Production Inkjet Printers (Color), High-Speed Color Printers
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Which Companies Are Leading the Charge in Production Printers Market Innovation?
Major companies operating in the production printers market are Hewlett-Packard Development Company LP, Canon Inc., Fujifilm Holdings Corporation, Sharp Corp., KYOCERA Corp., Konica Minolta Inc., Xerox Corporation, SCREEN Holdings Co. Ltd., Heidelberger Druckmaschinen AG, Bobst Group SA, Agfa-Gevaert Group, Koenig & Bauer AG, Eastman Kodak Company, Komori Corporation, Goss International Corporation, RISO Kagaku Corporation, Roland DG Corporation, Domino Printing Sciences plc, EFI Electronics, Presstek LLC, Durst Group, MGI Digital Technology, Inca Digital Printers Ltd., Ricoh Company Ltd., Miyakoshi Printing Machinery Co. Ltd
Which Regions Are Leading the Global Production Printers Market in Revenue?
North America was the largest region in the production printers market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the production printers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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