Printer Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Report of Global Laser Printer Market is Segmented by Printer Type (Multi-functional and Standalone), Technology Type (Dot Matrix Printer, Inkjet Printer, LED Printer, Thermal Printer, and Laser Printer), Printer Interface (Wired and Wireless), Output Type (Color and Monochrome), End-user Application (Residential, Commercial, Educational Institutions, Enterprises, Government, and Other End-user Applications), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

Printer Market Size

Printer Market Summary
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Study Period 2018 - 2028
Market Size (2023) USD 51.98 Billion
Market Size (2028) USD 64.93 Billion
CAGR (2023 - 2028) 4.55 %
Fastest Growing Market Asia-Pacific
Largest Market North America

Major Players

Printer Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Printer Market Analysis

The Printer Market size is expected to grow from USD 51.98 billion in 2023 to USD 64.93 billion by 2028, at a CAGR of 4.55% during the forecast period (2023-2028).

The printing market and environment are undergoing several changes. The introduction of new technologies, changing needs of customers in printing, and the expansion of new printing markets are contributing to the demand for printers.

  • Mobile printing, growing demand for color printing, packaging printing demands, expansion of the market for entry products (A4 printers), along with the growing need for cloud-based computing and software are acting as growth catalysts in the printing industry.
  • The ecosystem of inks is also expected to evolve along with inkjet printing. Presently, solvent, water-based, and UV-based inks are widely used, with LED inks continually growing. The market is also experiencing the introduction of hybrid UV/water systems.
  • However, a relatively high ink cost remains a primary concern leading to lower switching rates of vendors from analog to digital. Increasing applications and economies of scale are expected to reduce the price of inks during the forecast period. Additionally, multiple benefits offered by multi-functional printers further augment the market growth amongst small and medium enterprises and individual users.
  • The introduction of eco-friendly practices is experiencing significant changes in activities and processes. Apart from several new initiatives for printing industries, end-user sectors and market vendors are trying to reuse, reduce and recycle.
  • With the outbreak of COVID -19, people started stocking up on lockdown essentials, a trend in the home printer market that grew considerably amid work-from-home situations. For instance, last year, Brother Industries Limited experienced a surge in demand and witnessed a rise of 30% in sales for its momo laser printers and 42% in color laser printers, mainly catering to the home environment. Commercial printing, on the other hand, such as newsletters, manuals, and business forms, saw a decline for printers. It is estimated that a post-pandemic, online-driven demand environment would lead to fewer low-value printing operations.

Printer Market Trends

This section covers the major market trends shaping the Printer Market according to our research experts:

Dot Matrix Printer Segment Expected to Hold Significant Market Share

  • A dot matrix printer is one of the oldest types of printers available in the market that prints by the direct impact of an ink-soaked cloth ribbon against the paper. It uses a similar mechanism to a typewriter, as the printer head moves up and down or runs back and forth on the paper. These are called impact printers because printing involves mechanical pressure where the pins against the ink ribbon strike the paper.
  • A dot matrix printer has several benefits, making it a preferred choice across several applications, such as shopping outlets, where it is used in POS terminals, cash registers, ATMs, etc. This kind of printer is highly cost-effective and easily available across the market. Also, it can easily connect with different systems responsible for issuing invoices, such as computers or cash registers.
  • For instance, POS systems and kiosks facilitate transactions from the central component of businesses across industries like retail, hospitality, transportation, and banking. These have gained importance, particularly among small-sized companies, over the years. Hence, the adoption of dot matrices across these industries is expected to increase with the increase in these devices across the end users.
  • Dot-matrix printers help make carbon copies of the printout, unlike non-impact printers. They can also be deployed in dirty, harsh environments and hot conditions, similar to industrial setups. Extensive use in places like banks or railways is justified by features such as the highest level of productivity and durability.
  • For instance, according to TVS Electronics, one of India's largest banks SBI and the largest insurance company LIC, among others, depending on the TVS-E range of dot matrix printers for their printing needs across thousands of branches. Also, Indian Railways prints over 5 million tickets every day using the TVS-E range of dot matrix printers. Hence, similar trends in the presence of dot matrix printers across several end users are expected to create significant demand in the future.
Printer Market - Number of POS Terminals Provided by Resident PSPs,  in Europe, by Country, 2020 - 2021

North America Expected to Register the Largest Market

  • North America is one of the major markets for printers in terms of market size. The wide-scale applications in many sectors, like government, enterprises, homes and offices, educational institutes, etc., have driven the region's revenue growth in the printer market. The region is crucial for revenue generation for global printing sector companies, such as HP Inc., Canon, Xerox Corporation, and Seiko Epson Corporation.
  • The region witnessed falling revenues from key market vendors operating in 2020 significantly due to the effect of the COVID-19 pandemic. The US economy was negatively affected by the pandemic and following lockdowns. Further, the COVID-19 pandemic impacted the industry's revenues due to business closures and office building capacity restrictions that slowed customers' purchasing decisions and caused lower printing volumes on existing devices.
  • The studied region is technologically advanced and developed, making adopting new technologies more accessible. However, it poses some challenges for the printing industry. Market players in the region are in the process of addressing many challenges facing their businesses, including the COVID-19 pandemic. These challenges are related to dynamic and accelerating market trends, such as the decreasing installations and printed pages, fewer devices per location, and increased adoption of electronic documentation.
  • The integration of these new technologies enabled the vendors to offer services, such as virtual print management services, which strengthen enterprise cost controls and security by utilizing workflows to route data to company-provided or personal printers based on data classification.
  • Market players in the region are expecting improved revenue growth through improvements in the software integration and features of multifunction printing devices. Increases in the color printer through expansion to fluorescent, metallic, and clear ink and leveraging a solid base in managed print services with analytics, digital, and security features are also observed. And an emphasis on reducing the environmental impact is driving innovation among regional vendors. For instance, HP Inc. set the target to use 30% post-consumer recycled content plastic across its print and personal systems product portfolio by 2025. In May 2020, HP Inc. sourced over 1.7 million pounds of ocean-bound plastic for its products.
Number of POS Terminals Provided by Resident PSPs,  in Europe, by Country, 2020 - 2021

Printer Industry Overview

The printer market is moderately fragmented, with a majority share acquired by a few global players. High investments in R&D, new product launches, market initiatives, mergers and acquisitions, partnerships, and collaborations are the prime growth strategies companies adopt to sustain the competition. Key players in the market are Canon, Xerox, Ricoh, and Konica Minolta.

  • October 2022: Canon Inc. announced the launch of the further expansion of its MAXIFY Ink Efficient GX series lineup with the MAXIFY GX4070 and MAXIFY GX3070 refillable ink tank printers for home offices and new hybrid working arrangements. Low-cost printing and water-resistant1 printouts have been combined with a refillable ink tank system making both printers the ideal choices for users to achieve maximum productivity gains.
  • July 2022: Xerox acquired Go Inspire, a UK-based print and digital marketing and communication service provider, to expand the global Digital Services footprint. Go Inspire has clients in Europe, the Middle East, and Africa (EMEA). This acquisition strengthens Xerox's commitment to expanding its digital services business and providing innovative workplace solutions.

Printer Market Leaders

  1. HP Inc.

  2. Canon Inc.

  3. Seiko Epson Corporation

  4. Brother Industries, Ltd.

  5. Xerox Corporation

*Disclaimer: Major Players sorted in no particular order

Printer Market Concentration.jpg

Printer Market News

  • October 2022: Canon Inc. announced the launch of four refillable ink tank printers to the PIXMA Ink Efficient G series lineup. The PIXMA G4770, G3770, G2770, and G1737 maximize productivity with high print yields and affordable printing costs. The series' primary features include easy ink refilling and large ink reservoirs, which enable smooth operation for home and small offices by reducing the chance of ink running out in the middle of printing.
  • June 2022: Brother International Corporation unveiled the most recent models of its INKvestment Tank lineup, including the MFC-J5855DW, MFC-J6555DW, and MFC-J6955DW INKvestment Tank Color Inkjet all-in-one printers. With up to a year of ink in the box1 and easy-to-change cartridges, these new models are also designed with Brother MAXIDRIVE Inkjet Technology, offering customers and the business the next generation of inkjet printing technology.

Printer Market Report - Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.2.1 Bargaining Power of Suppliers

      2. 4.2.2 Bargaining Power of Consumers

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Threat of Substitutes

      5. 4.2.5 Intensity of Competitive Rivalry

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Impact of COVID-19 on the Market


    1. 5.1 Market Drivers

      1. 5.1.1 Technological Advancements and Product/Service Enhancement in the Business End-use Sector

    2. 5.2 Market Restraints

      1. 5.2.1 Environmental Concerns and Growing Digitization in End-user Verticals


    1. 6.1 By Printer Type

      1. 6.1.1 Multi-functional

      2. 6.1.2 Standalone

    2. 6.2 By Technology Type

      1. 6.2.1 Dot Matrix Printer

      2. 6.2.2 Inkjet Printer

      3. 6.2.3 LED Printer

      4. 6.2.4 Thermal Printer

      5. 6.2.5 Laser Printer

    3. 6.3 By Printer Interface

      1. 6.3.1 Wired

      2. 6.3.2 Wireless

    4. 6.4 By Output Type

      1. 6.4.1 Color

      2. 6.4.2 Monochrome

    5. 6.5 By End-user Application

      1. 6.5.1 Residential

      2. 6.5.2 Commercial

      3. 6.5.3 Educational Institutions

      4. 6.5.4 Enterprises

      5. 6.5.5 Government

      6. 6.5.6 Other End-user Applications

    6. 6.6 Geography

      1. 6.6.1 North America

      2. 6.6.2 Europe

      3. 6.6.3 Asia-Pacific

      4. 6.6.4 Latin America

      5. 6.6.5 Middle East and Africa


    1. 7.1 Company Profiles

      1. 7.1.1 HP Inc.

      2. 7.1.2 Canon Inc.

      3. 7.1.3 Seiko Epson Corporation

      4. 7.1.4 Brother Industries Ltd

      5. 7.1.5 Xerox Corporation

      6. 7.1.6 Fujifilm Holdings Corporation

      7. 7.1.7 Konica Minolta Inc.

      8. 7.1.8 Roland DG Corporation

      9. 7.1.9 Ricoh Company Ltd

      10. 7.1.10 Fujitsu Ltd

      11. 7.1.11 Panasonic Corporation

      12. 7.1.12 Toshiba Corporation

    2. *List Not Exhaustive


**Subject to Availability

Printer Industry Segmentation

The study defines a printer as a device that uses text and graphics as input from a computer and relocates the information to paper. The study further covers the revenue generated from the sales of printer hardware.

The printer market is segmented by printer type (multi-functional and standalone), technology type (dot matrix printer, inkjet printer, LED printer, thermal printer, and laser printer), printer interface (wired and wireless), output type (color and monochrome), end-user application (residential, commercial, educational institutions, enterprises, government, and other end-user applications), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa).

The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

By Printer Type
By Technology Type
Dot Matrix Printer
Inkjet Printer
LED Printer
Thermal Printer
Laser Printer
By Printer Interface
By Output Type
By End-user Application
Educational Institutions
Other End-user Applications
North America
Latin America
Middle East and Africa

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Printer Market Research FAQs

The Printer Market size is expected to reach USD 51.98 billion in 2023 and grow at a CAGR of 4.55% to reach USD 64.93 billion by 2028.

In 2023, the Printer Market size is expected to reach USD 51.98 billion.

HP Inc., Canon Inc., Seiko Epson Corporation, Brother Industries, Ltd. and Xerox Corporation are the major companies operating in the Printer Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).

In 2023, the North America accounts for the largest market share in the Printer Market.

Printers Industry Report

Statistics for the 2023 Printers market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Printers analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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