The Inkjet Printers Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Inkjet Printers Global Market Report 2024, The inkjet printers market size has grown strongly in recent years. It will grow from $45.84 billion in 2023 to $48.85 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to home printing revolution, small and medium-sized business adoption, e-commerce growth, environmental awareness, education sector adoption.
The inkjet printers market size is expected to see strong growth in the next few years. It will grow to $61.56 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to 3d printing integration, rise of remote work, customization demands, augmented reality printing, bioprinting applications. Major trends in the forecast period include digital photography boom, technological advancements, mobile printing dominance, subscription-based printing services, artificial intelligence in printing.
The expansion of the advertising industry is expected to propel the growth of the inkjet printers market going forward. The advertising industry refers to the sector that encompasses activities related to creating, planning, executing, and managing promotional campaigns and messages to reach and persuade target audiences. Inkjet printers play a significant role in the advertising industry by facilitating the production of various advertising materials. Inkjet printers offer several benefits that make them valuable tools for advertising agencies. For instance, in March 2023, according to Canadian Industry Statistics (CIS), a database provided by Statistics Canada, the Canadian national statistical agency, the display advertising industry generated an average revenue of $422.3 thousand in 2021, up from $416.8 thousand in 2020. In addition, the advertising, public relations, and related services industries generated an average revenue of $364.8 thousand in 2021. Therefore, the expansion of the advertising industry is driving the growth of the inkjet printer market.
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The inkjet printers market covered in this report is segmented –
1) By Type: Multifunctional Printers, Desktop Printers, Large Format Printers, Inkjet Press, Industrial Inkjet Printers, Textile Printers, Other Types
2) By Technology: Continuous Inkjet, Drop On Demand, UV Inkjet, Other Technologies
3) By Application: Packaging And Labeling, Publishing, Advertising, Textile Printing, Photo Printing, Other Applications
4) By End User: Consumer, Education, Industrial, Textile, Pharmaceutical, Other End Users
Technological innovations are a key trend gaining popularity in the inkjet printers market. Companies operating in the inkjet printers market are adopting new technologies to sustain their position in the market. For instance, in February 2023, Mimaki Engineering Co. Ltd., a Japan-based inkjet printer manufacturing company, launched the TxF150-75, its first direct to film (DTF) technology inkjet printer. It involves a built-in ink circulation system and degassed ink pack design technologies, including the nozzle check unit and nozzle recovery system, ensuring that operations run smoothly with little need for intervention. With its full-color printing capabilities, the technology can also produce eye-catching graphics.
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