According to a new report by Allied Market Research, titled,"Portable Printer Market by Technology (Inkjet, Thermal, and Impact) and Industry Verticals (Healthcare, Retail, Telecom, Transportation & Logistics, and Others): Global Opportunities Analysis and Industry Forecast, 2017 - 2023,"the portable printer market was valued at $844.19 million in 2016, and is projected to reach at $1,643.40 million by 2023, growing at a CAGR of 10.2% from 2017 to 2023.
A printer is a peripheral device that accept input in form of text or graphics through digitally connected device and generate printed document for the user. Printers vary in shape, size, speed, and cost.The portable printer is a kind of handy printer that can be easily moved and provide mobility to the user. The businesses are expanding their operations across the globe and they are also focusing on innovating and modernizing their business in terms of technology, work management, and resource management. The traditional office printers require a huge space and it is difficult to move from one place to another. It is bulky in shape and require proper maintenance. The portable printers or mobile printers are smaller in shape and hence, can be easily movable. Few examples such as ticket printing for a passenger while travelling, receipt print out through the ATM machine, and many more applications require quick print outs. Portable printer makes it possible easily and quickly, drives the demand for portable printer in the market.
In 2016, Thermal technology segment dominated the portable printer market in technology type segment, in terms of revenue. Moreover, Transportation & logistics segment witnessed significant growth, due to increase in demand for mobility and on-demand printing facility.
Asia-Pacific was the highest revenue contributor to the portable printer market in 2016, accounting for around 35.23% share, owing to surge in demand for mobility for printing across industry verticals and rapid digitization has contributed to the growth of the portable printer market in this region. Furthermore, several industry verticals, such as banking, financial services, and insurance (BFSI), healthcare, retail, manufacturing, education, and government have adopted bring-your-own device (BYOD) policy. Now-a-days, the companies are implementing BYOD policy, as it minimizes the purchase and management cost of the equipment and also supports the changes in needs of business. This in turn propels the growth of portable printer market.
The report features a competitive scenario of the portable printer market and provides a comprehensive analysis of key growth strategies adopted by major players. The key players profiled in the study are Bixolon Co. Ltd, Brother Industries Ltd., Canon Inc., Fujitsu, Hewlett Packard Enterprise Development LP, Honeywell International Inc., Polaroid Corporation, Printek LLC, Toshiba Tec Corporation, and ZEBRA Technologies. These players have adopted competitive strategies such as innovation, new product development, and market expansion to boost the growth of the portable printer market.
Key Findings of the Portable Printer Market:
- The thermal technology printer market segment accounted for the highest share of the global portable printer market in 2016, growing at a CAGR of 10.7% from 2017 to 2023.
- Transportation & Logistics segment generated the highest revenue, accounting for $310.78 million in 2016.
- The others segment across the end user is expected to dominate the market, in terms of market share, during the forecast period.