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The global advanced printer market size is experiencing significant growth and is expected to grow considerably in the next few years. A printer is a device that takes input from a computer and transfers it onto a piece of paper. Printers come in various types such as laser, inkjet, thermal, and dot matrix. Small & medium-sized printers are used for office and home printing applications. For industries, such as advertising, signage, label, and textile, large-formatted industrial and commercial printers are used. With the growing trend of fabric or textile printing and printing advertisement, the demand for these printers is expected to increase. Mostly, inkjet printers for large format, which are capable of creating high-resolution posters, are used in industries such as decor and advertising.
The global advanced printer market is segmented on the basis of type, application, industry vertical, and region. Based on type, the market is further bifurcated into laser, thermal, inkjet, and dot matrix. Based on application, the market is divided into apparel & textile, signage, advertising & décor, others. Based on industry vertical, the market is classified into chemical & petrochemical, oil & gas, energy & power, automotive, food & beverages, healthcare, and others. Geographically, the global market is analyzed across North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa.
Key players of the global advanced printer market analyzed in the report include HP, Canon, Inc., Seiko Epson Corporation, Konica Minolta, Inc., Lexmark International, Inc., Sharp Corporation, HP Inc., Brother Industries, Ltd., Kyocera Corporation.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
The growing textile printing industry is driving the adoption of large textile printers, especially large-format inkjet printers. In addition, the global advertisement industry is witnessing massive growth due to the growing spending on advertisements by multiplexes, retail stores, restaurants, pubs, and bars. This rising trend of advertisements and rising importance of visual and sign communication are boosting signage printing. This eventually propels the demand for signage printers. Therefore, the rising demand for textile, signage, and label printers is anticipated to significantly propel the global market growth during the forecast period. Furthermore, the emergence of 3D printing technology is playing a vital role to enhance the advanced printers market around the globe during the forecast period.
3D printing technology drives the market
At present, within the advanced printers market, the fast-paced advancements in the 3D printing technology are expected to accelerate the adoption of advanced printers during the forecast period. The acceptance of 3D printers across the globe continues to witness steady growth, mainly to offer open-source designs in a host of domains such as the healthcare industry, aviation industry, automotive industry, and locomotive industry. In addition, the key players operating in the current advanced printers market are progressively exploring the potential of 3D printers across the manufacturing sector. R&D activities continue to discover applications and materials that are being used in the 3D printing sector. In the coming years, 3D printing is anticipated to emerge as the most flexible and efficient techniques in the manufacturing sector.
Surge in usage in automotive and industrial applications
Based on application, the global advanced printer market share has been segmented into, signage, apparel & textile, advertising & décor, CAD & technical printing, office & professional applications, and commercial & publication applications. Digital textile printing is also rising with the advent of digital technology in the textile & apparel industry. Textile printing is on the rise, owing to design flexibility, eco-friendly process, and reduced time.
Production of additives is growing significantly, with the growth of manufacturing activities as well as the emergence of automation technology across the world. Additive manufacture includes the formation of 3D products at a low cost and in less time. The demand for 3D printers is increasing rapidly, owing to the rising production of additives that helps manufacturing 3D objects. In addition, manufacturers are building technologically advanced and new 3D printers for both commercial and industrial applications. This is expected to contribute to the growth of the global advanced printer market revenue during the forecast period.
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