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Production Printer Market Size, Share, Technology, Trends,demand and Growth by 2023
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Production printers provide high volume printing within a short period of time. On a global level, books and magazine publishers are shifting from offset to digital production printing to make their processes more economical. This shift is further resulting in the growth of production printer market.
Nowadays, production printers are extensively used for the large-scale printing of transactional documents, including bills, statements, invoices, checks, insurance documents, and other transaction-related documents. Production printers are reliable, cost-effective, high-speed print engines with robust finishing capabilities.
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The increased demand for printing of transactional documents with less cost is driving the production printer market for the transactional application. The market for the label & packaging application is expected to grow at a high rate. The label & packaging application includes the printing of packages, boxes, cartons, bags, tags, labels and others. High quality and low printing cost are the key factors driving the adoption of production printers in this market.
Geographically, North America is expected to hold the largest share in the printer production market, while the market is expected to witness highest growth in the Asia-Pacific (APAC) because of the growing usage of production printers, especially in Japan and other countries. The other reasons for the growth of this market in APAC are the on-going development in this region, thus offering huge potential and lucrative opportunities for this market to flourish. The increasing demand for the production of books, magazines, catalogues, manuals and others at a low cost is expected to drive the demand for production printers in Asia-Pacific.
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The key players in the production printers market are Canon Inc., Xerox Corporation, Hewlett-Packard, Ricoh Company Ltd., Konica Minolta, Inc., Agfa and Gevaert N.V. Agfa-Gevaert N.V., EFI Electronics Corp., Eastman Kodak Company, Inca Digital Printers Ltd. and Miyakoshi Co. Ltd.
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