Market Size of Production Printer Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.07 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Production Printers Market Analysis
The production printer market size is expected to grow from USD 6.082 billion in 2023 to USD 7.424 billion by 2028, at a CAGR of 4.07% during the forecast period (2023-2028).
- The growth of printing applications in packaging and the increased sales of Inkjet printers as a result of the introduction of high-performance Inkjet printers are expected to drive the market over the forecast period.
- Various end-user industries, such as packaging, marketing materials, and promotional goods, are surging the demand for high-quality production printers. In addition, including customized marketing messages in promotional and marketing strategies is one of the key drivers in the production printer industry. This is generating a substantial requirement for personalized printing content, which is being provided by commercial printing organizations that leverage digital printing technologies.
- In addition to this, the rising advertising needs of enterprises globally and extensive technological proliferation currently signify the key factors augmenting market growth. Further, organizations are progressively adopting commercial printers due to their advantages, like they are more cost-effective and efficient for bulk printing.
- The production printer landscape is a consolidated market with a few players dominating the market. The market entry barriers for the vendors are high, and established players with deep pockets dominate the market.
- The growth of digital marketing and online reading is significantly impacting the production printer market. The demand for printed marketing materials and printed publications is declining, leading to a decline in the need for production printers. Thus, the market growth is expected to be hampered in the coming years as digital marketing and online reading become even more popular. However, there are still some areas where production printers are in high demand, such as packaging and label printing.
- The impact of COVID-19 and its restrictions significantly affected production volumes and factory operations worldwide. Production increased in the packaging sectors due to the heightened demand for food, beverage, and pharmaceutical products, which necessitated increased packaging production. Additionally, there was a surge in demand for protective equipment and shields for everyday use across the globe The growth of e-commerce is expected to drive the demand for better packaging solutions worldwide during the post-COVID-19 period. The evolution of e-commerce is expected to create demands for printing methods that can match the speed, volumes, and standardization that this industry demands.
