Rising Demand for 3D Printers Driving Growth

The Business Research Company’s Printer Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

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The global printer market is on track to experience substantial growth, with an anticipated increase from $10.71 billion in 2022 to $11.37 billion in 2023, representing a compound annual growth rate (CAGR) of 6.1%. The market size is expected to reach $14.18 billion in 2027, maintaining a CAGR of 5.7%. This growth is attributed to the escalating demand for 3D printers, especially in industries ranging from automotive to consumer products.

Key Growth Drivers:
1. Rising Demand for 3D Printers:
• The printer market is witnessing significant growth due to the increased adoption of 3D printers. Companies across various industries are recognizing the benefits of 3D printing in production processes. For example, Shapeways Holdings, Inc., a US-based 3D printing marketplace, reported that 63% of firms expressed growing confidence in 3D printing at scale, with 87% attributing their 3D printing investments to supply chain disruptions caused by the pandemic. The advantages include higher labor productivity, increased asset utilization, and lower inventory costs.

Major Players:
Major players contributing to the printer market include Brother Industries Ltd., Seiko Epson Corp., Hewlett-Packard Company (HP), Canon, Ricoh, Samsung Electronics Co. Ltd., Konica Minolta Inc., Hitachi, Zebra Technologies, Lexmark International Inc., Printek LLC., Durst, Bixolon Co. Ltd., Fujitsu, Honeywell International Inc., Polaroid Corporation, Inca Digital Printers, Toshiba Tec Corporation, Kyocera Corp., Sharp Corp., Agfa and Gevaert, and Eastman Kodak Company.

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Technological Advancements:
• The printer market is witnessing a trend of advancing technologies, with major companies focusing on developing innovative solutions. Sharp Electronics of Canada Ltd., for instance, introduced the BP Advanced and Essentials Multifunctional Printer Series featuring improved cloud service connectivity and native Microsoft Universal Print capability. These advancements aim to enhance communication and streamline print management.

Regional Dynamics:
• Largest Region: North America emerged as the largest region in the printer market in 2022.
• Fastest-Growing Region: Asia-Pacific is anticipated to be the fastest-growing region in the global printer market during the forecast period.

Market Segmentation:
1. By Type:
• Dot-Matrix Printers
• Line Printers
• Daisy-Wheel Printers
• Laser & Led Printers
• Mono Printers
2. By Technology:
• Inkjet
• Thermal
• Impact
3. By Printer Interface:
• Wired
• Wireless
4. By Output Type:
• Color
• Monochrome
5. By End-user Applications:
• Residential
• Commercial
• Educational Institutions
• Enterprises
• Government
• Other Applications

The comprehensive report provides insights into the global printer market, highlighting key growth drivers, major players, market trends, challenges, technological advancements, and regional dynamics. The increasing demand for 3D printers and continuous technological innovations are driving the growth of the printer market.
https://www.thebusinessresearchcompany.com/report/printer-global-market-report

Printer Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Printer Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on printer market size, printer market drivers and trends, printer market major players, competitors’ revenues, market positioning, and market growth across geographies. The printer market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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3D Printer Global Market Report 2023
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