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Dot Matrix Printer Market Outlook - 2030
A dot matrix printer or impact printer is a printer that uses pin and ink ribbon to form an image. The pins are struck against ink ribbon to create an impression on the paper. A dot matrix printer commonly consists of 9-pin or 24-pin print head that moves up and down or in a back-and-forth direction on the page to a print character.
Sophisticated paper handling capacity and high-precision alignment are the properties of the dot matrix printers that make it so reliable for the market. Therefore, the advantages surge the market demand which in turn increases the dot matrix printer market.
The global dot matrix printer market is segmented on the basis of type, end use, and region. Based on type, the market is divided into low resolution printer, middle resolution printer, and high resolution printer. In terms of end use, the market is categorized into finance & insurance, government, communications, healthcare, and logistics. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
Key players operating in the global dot matrix printer industry include Major players analyzed EPSON, Fujitsu, Lexmark, Printek, Olivetti, Jolimark, New Beiyang, Star, GAINSCHA, ICOD, SPRT, Winpos, Bixlon, OKI, Toshiba, and ZONERICH. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global dot matrix printer market.
COVID-19 Scenario Analysis
COVID-19 pandemic is a massive health emergency that has impacted almost all industries. The COVID-19 pandemic has forced all the governing bodies across the world to impose strict lockdown and restrict the travel for controlling the COVID-19 outbreak which has negatively affected the growth of business in the market.
In the last decade, the dot matrix printer industry has been gathering huge traction across the globe because of its extensive use in financing and insurance department. However, the COVID-19 pandemic has caused significant barriers to the growth of the dot matrix printer market share. The production rate of the dot matrix printer market expected a decline as the companies were instructed to continue their operations only with a limited workforce, leading to the increase in price in the market, which can be proved with the help of an economic theory “price elasticity of supply”. This surge in price has lowered the demand for the dot matrix printer in the market.
However, after the COVID-19 pandemic the dot matrix printer industry is anticipated to regain its demand in the market because of its increase in diverse and innovative areas of application such as logistics, finance, and insurance & communication.
Top Impacting Factors
The dot matrix printer is used to print address book and handle finance booklet, which is expected to help reduce the load and improve efficiency of the workers in the industry. Hence, the need for the dot matrix printer in the industrial sector is projected to drive the growth of the dot matrix printer market.
In addition, advance technology like USB interface with dot matrix printer, small cartilage, and software allow control on the dot matrix printer open door dot matrix penetrate in the market and have dominance over other market partners. The dot matrix printer lacks in printing quality and limited color and there is a huge scope for improvement in resolution. These factors limit the growth of the dot matrix printer in the market.
Extensive Use of Dot Matrix Printer Market in the Industrial and Government Sector
Dot matrix printers are able to print up to 10 million characters with advancement in time and technology. Serial impact dot matrix printer is mostly preferred because these are superior in quality and provide non-stop printing performance without overheating in the industry. These factors tend to increase in demand for the dot matrix printer in the market.
Advancement in Technology in Dot Matrix Printer
As per the Dot Matrix Printer Market outlook the advancement of the technology creates dot matrix printer market opportunity, proton dot matrix printer provides solution for many problems faced by most of the dot matrix printers such as USB interface. Thus, this increase in the technology of the dot matrix printers paves way for the growth of the dot matrix printer in the market during the forecast period.
Key Benefits of the Report
Questions Answered in the Dot Matrix Printer Market Research Report
Key Market Segments
Key Market Players