Printer Global Market Report 2021 – COVID-19 Impact And Recovery
Printer Global Market Report
The Business Research Company’s Printer Global Market Report 2021 – COVID-19 Impact And Recovery
LONDON, GREATER LONDON, UK, November 2, 2021 /EINPresswire.com/ — The rising demand for 3D printers is anticipated to propel the growth of the printer market over the forecast period. 3D printers use a technique called additive processing to shape (or print) physical objects layer by layer before the design is finished. Companies across industries, from automotive to consumer products, are becoming aware of the benefits of 3D printers provide for production. Around 51% of businesses are currently using 3D printing for manufacturing, according to Sculpteo ‘s 2019 State of 3D Printing study. For instance, large car manufacturers such as Volkswagen, BMW, and Ford are already developing 3D-printed parts for their automobiles.
The global printer market is expected to grow from $132.41 billion in 2020 to $144.62 billion in 2021 at a compound annual growth rate (CAGR) of 9.2%. The growth of the printer market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The printer market is expected to reach $171.82 billion in 2025 at a CAGR of 4.4%.
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Advancing technologies are gaining popularity in the printer market. Major companies operating in the printing industry are focusing on developing advanced technology solutions for printers. For instance, in July 2019 HP Inc, a USA-based hardware company launched HP Neverstop Laser printer that is designed for companies in India to recreate smart printing technology. The HP Neverstop Laser Printer is an all-new, fast-reload laser printer that allows small and medium enterprises to save critical business time and costs, thereby expanding their efficiency. The printers have a mobile scanner, Wi-Fi Direct, and HP Smart App printing options and can substitute a toner in 15 seconds.
Major players covered in the global printer market are Brother Industries Ltd, Seiko Epson Corp, Hewlett-Packard Company (HP), Canon, Ricoh, Samsung Electronics Co. Ltd, Konica Minolta Inc., Hitachi, Zebra Technologies, Lexmark International Inc., Printek LLC, Durst, Bixolon Co. Ltd, Fujitsu, Honeywell International Inc, Polaroid Corporation, Inca Digital Printers, Toshiba Tec Corporation, Kyocera Corp., Sharp Corp., Agfa and Gevaert, Eastman Kodak Company.
TBRC’s global printer market report is segmented by type into dot-matrix printers, line printers, daisy-wheel printers, laser & led printers, mono printers, by technology into inkjet, thermal, impact, by printer interface into wired, wireless, by output type into color, monochrome, by end-user applications into residential, commercial, educational institutions, enterprises, government, others.
Printer Global Market Report 2021 – By Type (Dot-Matrix Printers, Line Printers, Daisy-Wheel Printers, Laser & Led Printers, Mono Printers), By Technology (Inkjet, Thermal, Impact), By Printer Interface (Wired, Wireless), By Output Type (Color, Monochrome), By End-user Applications (Residential, Commercial, Educational Institutions, Enterprises, Government), COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provides printer market overview, forecast printer market size and growth for the whole market, printer market segments, and geographies, printer market trends, printer market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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Source: https://www.einnews.com/pr_news/555329405/increasing-demand-for-3d-printers-lifts-the-printer-market