The global printers & copiers market size is expected to reach USD 9.8 billion by 2028, according to a new report by Million Insights. The market is expected to expand at a CAGR of -1.4% from 2021 to 2028. This can be attributed to decreasing demand for printers and copiers from the commercial sector such as offices.
The growing availability of advanced printers with Wi-Fi connectivity features and upgraded digital integration may show some positive impact on the market during the forecast period. Additionally, apprehending demand for printers and copiers for learning and working from home in countries comprising Japan and China. Moreover, emerging economies are taking numerous initiatives to implement digitization in the country, which, in turn, is expected to support the industry demand.
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Cumulative investments by key players in the latest technologies and focus on innovative product launches are further projected to boost industry sales. Though, high ink cost and high maintenance cost of printers and copiers remain a prime concern leading to hindering the market growth during the forecast period.
The printer type segment accounted for the largest revenue share of more than 70.0% in 2020. This growth is credited to the accumulative demand for these products. The rising adoption of multifunctional printers for commercial applications may drive the growth of this segment in coming years. Additionally, the rising usage of printers in homes may also play some positive role in the growth of this segment.
The online segment is expected to expand at the fastest CAGR of 0.65% from 2021 to 2028. This can be credited to the usage and rising popularity of e-commerce platforms. Major manufacturers are partnering with online retailers intending to reach out to new buyers. Correspondingly, an increase in sales of printers and copiers mainly through company-owned websites and other e-commerce platforms such as Amazon, Walmart, etc., is further anticipated to drive the growth of the online distribution channel segment in the coming years.
Asia Pacific led the market and accounted for the largest revenue share of more than 30.0% in 2020. This can be attributed to the growing demand for printers from emerging countries, such as China, and India for the commercial sector. The growing work-from-home employment and rising disposable income are principal factors driving market growth. Various Chinese companies have entered the market with a partnership with e-commerce platforms to offer products at modest pricing. This, in turn, will drive the regional market in the coming years.
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Printers And Copiers Market Report Highlights
• North America is expected to show slow growth of -0.12% from 2021 to 2028 owing to declining demand for printers and copiers from commercial applications
• The printer type segment dominated the market and accounted for the highest revenue share of more than 70.0% in 2020 due to rising demand for this printer from developing regions for work from home employment
• Asia Pacific dominated the market and accounted for a revenue share of over 30.0% in 2020 due to rising demand for printers and copiers in developing countries
• The offline distribution channel segment held the largest revenue share in 2020, contributing to revenue share of more than 80.0% owing to the improvement of the organized retail sales sector globally
Printers And Copiers Market Segmentation
Million Insights has segmented the global printers & copiers market on the basis of type, distribution channel, and region:
Printer And Copiers Type Outlook (Revenue, USD Million, 2017 – 2028)
Printer & Copiers Distribution Channel Outlook (Revenue, USD Million, 2017 – 2028)
Printer & Copiers Regional Outlook (Revenue, USD Million, 2017 – 2028)
Central & South America
Middle East & Africa
List of Key Players of Printers And Copiers Market
HP Development Company
Canon Singapore Pte. Ltd.
Seiko Epson Corporation
Konica Minolta, Inc.
Brother Industries, Ltd.
Videojet Technologies, Inc.
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