26 May, 2020- Transparency Market Research delivers key insights on the global advanced printer market. In terms of revenue, the global advanced printer market is estimated to expand at a CAGR of ~3% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global advanced printer market.
A printer is a device that takes input from a computer and transfers it onto a piece of paper. Printers come in multiple types such as inkjet, laser, thermal, and dot matrix. Small- and medium-sized printers are used for home and office printing applications. For industries such as signage, label, advertising, and textile, large-formatted industrial and commercial printers are used. With the growing trend of textile or fabric printing and printing advertisement, the demand for these printers is on the rise. Mostly, inkjet printers of large format, which are capable of producing high-resolution posters, are used in industries such as advertising and décor.
Advanced Printer Market: Dynamics
Based on application, the global advanced printer market has been segmented into apparel & textile, signage, advertising & décor, office and professional applications, CAD & technical printing, and commercial and publication applications. Digital textile printing is also growing, with the advent of digital technology in the textile & apparel industry. Furthermore, textile printing is on the rise owing to design flexibility, eco-friendly process, and reduced time. Rising textile printing is propelling the adoption of large textile printers, especially large-format inkjet printers. The global advertisement industry is witnessing immense growth, due to the increasing spending on advertisements by retail stores, multiplexes, restaurants, pubs, and bars. This growing trend of advertisements and rising importance of visual and sign communication are boosting signage printing. This eventually propels the demand for signage printers. Thus, rising demand for signage, textile, and label printers is expected to significantly propel the global advanced printer market during the forecast period.
Advanced Printer Market: Prominent Regions
North America is a leading region of the global advanced printer market. Growth of the market in the region can be attributed to presence of leading manufacturers in the region. The textile industry holds key importance in a country’s economy, as it contributes significantly to the country’s GDP. India, China, South Korea, the U.S., and member countries of the European Union have prominent textile industries. Governments are trying to propel the industry through various policies. Moreover, the advanced printer market in Europe is expected to witness significant growth during the forecast period, due to increasing demand for advanced printers, due to increasing urbanization, industrialisation, and investments in 3D printers in the region. Growth of the advanced printer market in Asia Pacific can be attributed to government efforts to propel the textile & apparel industry in the region. In other regions, the demand for advanced printers is dependent on growth of sectors such as industrial, IT & telecommunication, and healthcare.
Advanced Printer Market: Key Players
Key players operating in the global advanced printer market are HP, Canon, Inc., Seiko Epson Corporation, Konica Minolta, Inc., SHARP CORPORATION, Kyocera Corporation, Lexmark International, Inc., SHARP CORPORATION, HP Inc., and Brother Industries, Ltd.
