Inkjet Printers Global Market Report 2024

An inkjet printer is a type of printer that utilizes small droplets of ink to create text, images, or graphics on paper or other printable materials. The printer works by propelling tiny droplets of ink onto the printing surface through a print head containing numerous nozzles. Inkjet printers are versatile and commonly used for document printing, marketing materials, and personal or home use.

The main types of inkjet printers include multifunctional printers, desktop printers, large format printers, inkjet presses, industrial inkjet printers, textile printers, and others. A multifunctional printer, also known as an all-in-one printer, is a device that combines the functionality of multiple office machines into a single unit. These printers are capable of printing, scanning, copying, faxing, and document management. They integrate different technologies such as continuous inkjet, drop-on-demand, UV inkjet, and others, and find applications in various industries such as packaging and labeling, publishing, advertising, textile printing, photo printing, and more. End-user industries utilizing inkjet printers include consumer, education, industrial, textile, pharmaceutical, and others.

The inkjet printers research report is one of a series of new reports from The Business Research Company that provides inkjet printers market statistics, including the inkjet printers industry's global market size, regional shares, competitors with an inkjet printers market share, detailed inkjet printers market segments, market trends and opportunities, and any further data you may need to thrive in the inkjet printers industry. This inkjet printers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

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 observed in the historical period can be attributed to factors such as the home printing revolution, the adoption of inkjet printers by small and medium-sized businesses, the growth of e-commerce, increasing environmental awareness, and the adoption of inkjet printers in the education sector.

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 anticipated growth in the forecast period can be attributed to factors such as the integration of 3D printing, the rise of remote work, increasing demands for customization, the application of augmented reality in printing, and the advancements in bioprinting. Major trends expected in the forecast period include the boom in digital photography, continued technological advancements, the dominance of mobile printing, the emergence of subscription-based printing services, and the integration of artificial intelligence in the printing industry.

The inkjet printers market is anticipated to experience growth due to the expanding advertising industry. The advertising sector encompasses activities related to creating, planning, executing, and managing promotional campaigns and messages to reach and persuade target audiences. Inkjet printers play a crucial role in this industry by facilitating the production of various advertising materials. Their versatility and benefits make them valuable tools for advertising agencies. For example, according to Canadian Industry Statistics (CIS) in March 2023, the display advertising industry in Canada generated an average revenue of $422.3 thousand in 2021, reflecting growth from $416.8 thousand in 2020. Additionally, the advertising, public relations, and related services industries generated an average revenue of $364.8 thousand in 2021. Thus, the expansion of the advertising industry is a driving force behind the growth of the inkjet printer market.

The inkjet printer market is expected to witness growth driven by the increasing expansion of the packaging industry. The packaging sector involves the design, manufacturing, and production of materials and containers for product enclosures, protection, presentation, and distribution. Inkjet printers are employed for various tasks in packaging, including label printing, variable data printing, and customization. They contribute to efficient packaging through functions such as date and IoT coding, barcode printing, and serialization, offering flexibility, compliance, and enhanced visual appeal. According to VDMA (Verband Deutscher Maschinen- und Anlagenbau) in May 2022, the food processing and packaging machinery industry in Germany generated €14.8 billion in revenue in 2021, indicating a 7% increase from 2020. Therefore, the growing expansion of the packaging industry is a significant factor driving the inkjet printer market.

A prominent trend in the inkjet printers market is the adoption of technological innovations. Companies in this market are embracing new technologies to sustain their positions. For instance, in February 2023, Mimaki Engineering Co. Ltd. introduced the TxF150-75, its first direct-to-film (DTF) technology inkjet printer. This technology incorporates built-in ink circulation systems, degassed ink pack design, nozzle check units, and nozzle recovery systems to ensure smooth operations with minimal intervention. With full-color printing capabilities, the technology is capable of producing eye-catching graphics.

Prominent players in the inkjet printers market are strategically introducing innovative products, such as ink tank printers, to establish a competitive advantage. Ink tank printers, also recognized as refillable ink tank printers, are characterized by built-in ink tanks that can be conveniently refilled as needed. A case in point is Canon Inc., which, in February 2022, unveiled the MAXIFY GX5070, a cutting-edge ink tank business printer meticulously crafted to cater to the high-volume, high-quality color printing requirements of home offices and small businesses. The MAXIFY GX5070 printer is designed to elevate efficiency and productivity, boasting features that include low color printing costs, rapid print speeds, substantial paper capacity trays, water-resistant printing capabilities, and networking functionalities. This strategic product launch underscores major companies' commitment to staying ahead in the market by delivering advanced and user-friendly solutions that address the evolving needs of consumers and businesses alike.

In June 2022, Agfa-Gevaert Group successfully completed the acquisition of Inca Digital Printers Limited for an undisclosed sum. This strategic move is aimed at reinforcing Agfa's presence in the sign and display as well as industrial printing sectors, thereby fostering its expansion in the realm of digital printing. Inca Digital Printers, headquartered in the United Kingdom, is recognized as a leading inkjet technology company with expertise in the production of inkjet printers.

Major companies operating in the inkjet printers market report are Hitachi Industrial Equipment Systems Co Ltd., HP Inc., Videojet Technologies Inc., Canon Inc., Fujifilm Holdings Corporation, Kyocera Corporation, Ricoh Company Ltd., Seiko Epson Corporation, Xerox Holdings Corporation, Konica Minolta Business Solutions India Private Limited, Brothers Industries Ltd., Keyence Corporation, Zebra Technologies Corporation, Lexmark International Inc., Screen Holdings Co. Ltd., Agfa-Gevaert N.V., EFI Electronics for Imaging Inc., Markem-Imaje Corporation, Domino Printing Sciences PLC, Xaar PLC, Mimaki Engineering Co. Ltd., Roland DG Corporation, Kornit Digital Ltd., Inkjet Inc., Pannier Corporation, Durst Phototechnik AG, Mutoh Holdings Co. Ltd., Control Print Ltd., Colordyne Technologies LLC

North America was the largest region in the inkjet printers market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the inkjet printers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the inkjet printers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The inkjet printers market consists of sales of portable inkjet printers and handheld inkjet printers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Inkjet Printers Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on inkjet printers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for inkjet printers ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The inkjet printers market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 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
• Companies Mentioned: Hitachi Industrial Equipment Systems Co Ltd.; HP Inc.; Videojet Technologies Inc.; Canon Inc.; Fujifilm Holdings Corporation
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.