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Printers Market:Executive Summary
Talking about Printers or printing devices, these are the advanced electronic devices which are used to print images and text from different sources, like smartphones and computers on papers or other printable mediums. Basically, there are two major types of printers. One is the impact printer, and another one is non-impact printers. Speaking about impact printers, it generates images and texts on paper. Under this process, the print ribbons are pressed onto the printable medium with the help up pins. The non-impact printer is soundless and quite popular.
The primary factors that are driving the market growth is the rising demand for better and advanced printing solutions and printing technologies to boost productivity. Some printers come with advanced photocopier technology to produce excellent printing results. For example, laser printing devices. Such devices come with a laser beam to create the images on the drum. Such a printer has the ability to produce a high-quality print. On the other side, these devices are very easy to operate. The increasing popularity of such devices will positively affect the market.
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On the other side, the latest technology and product development have provided great opportunities for key manufacturers to come up with advanced printing devices. Such devices are also getting popular among the users. It has been forecasted that by the end of the year 2023, the market will reach around USD 2300 Million. Besides, the experts have also suggested that during the forecast period, the market will grow at about 17 percent of the Compound Annual Growth Rate. However, the high cost of multifunctional printing devices may hamper the market growth.
Market key player are covered:
Brother
Canon
Epson
HP
Kyocera
Panasonic
Samsung
Sony
Xerox
Market Segmentation Overview
The global market for Printers is segmented on the basis of printer type, application, and region. Considering the type, the market is split into a laser printer and inkjet printer. In this report, the experts have suggested that the inkjet printer market segment will enjoy massive growth during the forecast period. The reason behind this is the usage of laser printers is getting high owing to the rising adoption of such printers in different sectors. Besides, such a printer offers high-quality printing quality. Now, coming to the application-based market segmentation, this includes household and commercial. Looking at the recent market's statistical data, it can be forecasted that the commercial segment will grow at the highest rate.
Geographical Market Segmentation Overview
The worldwide market for Printer, based on region, is segmented into Western Europe, the Middle East and Africa, Asia Pacific, Eastern Europe, North America, and South America. Furthermore, experts have also split the market into different countries. In the report, the market is segmented into India, Japan, South Africa, North Africa, China, Egypt, Turkey, England, Australia, Southeast Asia, Korea, GCC Countries, France, Germany, the United Kingdom, Mexico, Italy, the United States, and others. It is forecasted that the Asia Pacific’s regional market will dominate the global market owing to the increasing usage of various printers in different sectors. Besides, the cost of printers is also going down, and that enables consumers to buy more printers.
Industry Overview
In May 2019, Brother signed a partnership deed with Y Soft. With this, Brother will be able to offer YSoft SafeQ solutions for its multifunctional device, including printers. Talking about YSoft SafeQ, it provides centralized management of the organization’s print services.
In October 2019, Brother awarded with “Good Design Award 2019” for its latest label printer models.
Continuous…
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