In 2023, the global inkjet market will reach US$ 59.1 Billion. This is due to a growing demand for UV curable inks. This trend will create new opportunities in the market. It is projected to grow at a CAGR of 6.7% from 2023 to 2033 and reach a valuation of US$ 113.1 by 2033.
Inkjet printing technology is constantly improving, and this has been a major factor in the growth of inkjet printers. Inkjet printers are exhibiting remarkable improvements in print speed, quality and versatility. The application range of inkjets has been expanded by the use of advanced printhead technology, higher-resolution capabilities, and the capability to print on various substrates. Inkjet printers will be adopted in many industries, including advertising, packaging and textiles.
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Digital printing is one of the major factors contributing to market expansion. As the switch from analog to electronic printing occurs, there is a growing demand for printers with high-quality output and shorter turnaround times. Digital printing is well-suited to inkjet printers because they produce vivid colors and provide precise details. Printing solutions are available for small-to-medium print runs. They’re used in many industries including packaging, advertising and publishing.
Inkjet printers are also being used more in industrial applications, which is accelerating the market’s growth. Pharmaceuticals, food, beverage and logistics industries require reliable and efficient printing solutions for product marking, labeling and packaging. Inkjets are capable of printing variable data such as barcodes, serial numbers and QR codes on different substrates. Their versatility makes them extremely valuable for industrial applications, where precision and durability are essential. Inkjet printers are expected to grow significantly as the demand for industrial print solutions continues to increase.
Market Study Key Takeaways
- The global market for inkjet printing is estimated to be worth US$ 55.4 Billion by the end of 2022.
- Market demand grew at a CAGR 5.9% from 2018 to 2020.
- China is expected hold a dominant CAGR during the forecast period of 7.7%.
- In 2033, CAGR is expected to be 6.6% for large format printers.
- According to the end-user industries, the institutional segment will dominate the market in 2033 with a CAGR 6.5%.
- Inkjet printers are expected to thrive from 2023-2033 at a CAGR 6.7%.
- By 2033 the value of the inkjet market is expected to be US$ 113.1 Billion.
FMI analyst says the rising popularity of eco friendly printing solutions around the world is a key factor expected to drive the growth of inkjet printers in the near future.
Competitive Landscape
Inkjet Inc., Xerox Corporation, Videojet Technologies, Inc., Markem Imaje Corporation, Lexmark International, Inc., and others are among the leading players on the market for inkjet printers.
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The global inkjet printers market is expected to be valued at over US$ 52.1 Billion in 2022 and is expected to procure significant market value during the forecast period. The market is expected to grow at a 6.5% CAGR from 2022-2028.
Inkjets are non-contact printing devices that use a jet to propel ink on a substrate. Digital control is used to control the inkjet nozzle. Inkjet printers can be used for different applications. Institutions like schools, offices and colleges use single and multifunctional printers. Posters and photos are printed on large format inkjets. Inkjet industrial printers are commonly used to print labels, code, and mark packaging. Inkjet presses are used for bulk printing, such as books and catalogues.
FMI’s report suggests that the multi-functional and larger format inkjet segments will play a key role in driving the demand for inkjets over the forecast period. Due to their low investment costs and high quality prints, inkjet printers are expected to be preferred over laser printers in many developing countries.
APEJ will lead the growth of the inkjet market globally. Inkjet printers are expected to grow in this region due to the presence of rapidly emerging economies, the increasing standard of living, and the large population of urban areas. According to FMI multifunctional printers should have the biggest market share for inkjet printing in the region. This is because of their versatility, as well as the fact that they are more prevalent in offices, schools colleges and other institutions. China will outpace other countries when it comes to the growth of the inkjet printers in the APEJ.
North America, and Western Europe, are expected to experience stagnant growth as the inkjet market matures in both regions. Market share is expected to be dominated by the US in North America and Germany, in Western Europe, due to consumers’ preference for inkjets. The largest growth is expected to be in large format inkjets in the region, due to the trend of using large format printers to print posters for advertising and professional photos.
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Latin America and MEA will be the most promising markets for global inkjet printing. Due to the increased penetration of inkjet printing into industries, emerging economies such as Argentina and Mexico in North Africa, and Latin America in general, will present high incremental opportunities. Paper segment is expected to be the largest segment in the inkjet market in Latin America and MEA, due to higher consumption of copy papers.
Japan’s share of the market for global inkjet-printers is smaller. Japan-based firms such as Seiko, Epson Corporation and Canon Inc. combined have the largest share of the global market for inkjet printers.
Companies that manufacture inkjets are focused on improving the ink capacity and increasing their global footprint by acquiring and expanding. In the next few years, inkjet printer manufacturers will likely focus on the lucrative region of Asia Pacific. The growth of inkjet printing is expected to be driven by the mass urbanization and improved living standards in these countries.
Inkjet, Inc., Domino Printing Sciences plc, Markem Imaje Corporation, Videojet Technologies, Inc., Canon Inc., Brother Industries, Ltd., Seiko EPSON Corporation, Xerox Corporation, Hitachi Industrial Equipment Systems Co., Ltd, Lexmark International Inc., are some of the key players that have been considered in this report.
Inkjet Printers by Category
By Printer Type
- Printers with a single function
- Multi-functional printers
- Large Format Printers
- Industrial Inkjet Printers
- Textile Inkjet Printers
- Inkjet Press
By Technology Type:
- Continuous Inkjet
- Drop on Request
- Thermal DOD
- Piezoelectric DOD
Substrate
- Plastic
- Metal
- Paper
- Fabric
- Ceramic
- You can also find out more about Other
By End-use Industry:
- Consumers are able to buy products at a lower price.
- Institutional
- Industrial
- Packaging
- Publishing
- Photographs
- Textile
- Advertisement
By Region
- North America
- Latin America
- Eastern Europe
- Western Europe
- APEJ
- Japan
- Middle East & Africa (MEA)
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