The global inkjet printers market is anticipated to reach a valuation of US$ 59.1 billion in 2023, driven by growing demand for UV-curable inks. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 6.7% between 2023 and 2033, and reaching a total valuation of approximately US$ 113.1 billion by 2033.
This growth is fueled by several key factors, including the rising popularity of high-quality, cost-effective printing solutions in both consumer and industrial applications. The demand for inkjet printers in sectors such as education, healthcare, retail, and packaging is escalating due to their versatility and ability to produce high-resolution prints at a lower cost per page compared to traditional printing methods.
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Moreover, the continuous innovation in inkjet technology, such as the development of faster and more efficient printers, has broadened their application scope, further propelling market growth. The trend towards digitalization and the increased adoption of color printing in business documents are also contributing to the market expansion. Additionally, the growing environmental awareness and the shift towards sustainable printing practices, with the use of eco-friendly inks and energy-efficient printers, are expected to drive the demand for inkjet printers over the forecast period.
Key Takeaways from the Market Study
- Global inkjet printers market was valued at US$ 55.4 billion by 2022-end.
- From 2018 to 2022, the market demand expanded at a CAGR of 5.9%.
- China is expected to hold a dominant CAGR of 7.7% during the forecast period.
- By printer type, the large format printers segment is expected to constitute a CAGR of 6.6% in 2033.
- On the basis of end-user industry, the institutional segment is expected to dominate the market with a CAGR of 6.5% in 2033.
- From 2023 to 2033, inkjet printers market is expected to flourish at a CAGR of 6.7%.
- By 2033, the market value of inkjet printers is expected to reach US$ 113.1 billion.
Rising popularity of eco-friendly printing solutions, across the globe is a major factor that is expected to propel the growth of the inkjet printers market in the near future, remarks an FMI analyst.
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Competitive Landscape
Prominent players in the inkjet printers market are HP Inc., Canon Inc., Seiko Epson Corporation, Domino Printing Sciences plc, Brothers Industries Ltd., Hitachi Industrial Equipment Systems Co., Ltd., Inkjet Inc., Xerox Corporation, Videojet Technologies, Inc., Markem-Imaje Corporation, and Lexmark International, Inc., among others.
Recent Developments
- In 2020, Epson introduced the SureColor P-Series printers, including the SureColor P7570 and P9570, featuring advanced PrecisionCore printhead technology and UltraChrome PRO12 pigment ink for professional photo and fine art printing.
- In 2020, HP introduced the HP Stitch S1000, a dye-sublimation printer designed for textile and soft signage printing, offering fast production speeds and vibrant colors.
- In the same year, Canon introduced the imagePRESS C165, a compact inkjet color press with high-quality output and versatile media handling capabilities.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global inkjet printers market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the inkjet printers market, the market is segmented on the basis of printer type (single functional printers, multi-functional printers, large format printers, industrial inkjet printers, textile inkjet printers, and inkjet press), by technology type (continuous inkjet, and drop on demand), by substrate (plastic, metal, paper, fabric, ceramic, and others), and by end-use industry (consumer, institutional, and industrial), across five major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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