The global printers and copiers market size was valued at USD 10.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of -1.4% from 2021 to 2028. This can be accredited to the drop in demand from the commercial sector. Innovation in technology and tough competition are compelling price reductions in a variation of consumer electronic product segments including printers and copiers. In addition, an upsurge in work from home employment, and a rise in the demand for home-usage may show some positive impact on this market.
Correspondingly, the emergence of new technologies in printers and copiers such as high-capacity, hands-free ink refilling mechanism, drip-free, Wi-Fi connectivity, and affordability, may play some positive role in this market. The ecosystem of inks is likewise anticipated to develop along with inkjet printing. Currently, solvent, UV-based, and water-based inks are broadly consumed along with LED inks which are persistently growing. Additionally, several market players are partnering with e-commerce platforms to intensify infiltration in the intact markets by promoting sales of their products.
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 market growth during the forecast period.
The printer type segment dominated the market and 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 copier type segment is expected to witness a CAGR of -1.57% during the forecast period. In addition, the growing demand for copiers in commercial applications and the education sector is projected to support segment growth during the forecast period.
The offline segment dominated the market and accounted for the largest revenue share of more than 80.0% in 2020. The segment includes independent retail stores, specialty stores, hypermarkets, supermarkets, etc. Arrangement of the organized retail sector has assured better visibility of consumer electronic products. In addition, the swiftly developing organized retail sector in emerging economies, such as China, India, and Japan, is further projected to increase the product demand during the forecast period.
The online segment is expected to register the fastest CAGR of 0.7% 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 coupled with rising disposable income is principal factors impelling the demand for printers & copiers market. 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.
North America is estimated to register a CAGR of -0.12% from 2021 to 2028 due to the increasing demand for printers from the U.S., and Canada for household usage. Also, steady demand for copiers for small and medium enterprises is supporting the market growth in this region.
Key players are focusing on R&D and introducing innovative products. Furthermore, market players are constantly financing in developing wireless printers to match countries' speedily progressing network infrastructure. Besides, numerous new initiatives for printing industries by governments, market vendors, and end-user sectors are trying to recycle, and reuse raw materials.
Moreover, companies are investing in new manufacturing plants to increase the production capacity and are also collaborating with regional, small-scale manufacturers to increase the geographical reach and client base. Some of the prominent players in the printers and copiers market include:
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Report Attribute |
Details |
|
Market size value in 2021 |
USD 10.8 billion |
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Revenue forecast in 2028 |
USD 9.8 billion |
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Growth rate |
CAGR of -1.4% from 2021 to 2028 |
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Base year for estimation |
2020 |
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Historical data |
2017 - 2019 |
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Forecast period |
2021 - 2028 |
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Quantitative units |
Revenue in USD million and CAGR from 2021 to 2028 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Type, distribution channel, region |
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Regional scope |
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
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Country scope |
U.S.; Germany; U.K.; France; China; Japan; South Africa; Brazil |
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Key companies profiled |
HP Development Company; Canon Singapore Pte. Ltd.; Xerox Corporation; Seiko Epson Corporation; Konica Minolta, Inc.; Brother Industries, Ltd.; Keyence Corporation; Videojet Technologies, Inc.; Pannier Corporation |
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Customization scope |
Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional, and segment scope. |
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Million Insights has segmented the global printers & copiers market report on the basis of type, distribution channel, and region:
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