The global advanced printer market had a total worth of USD 28.52 billion in 2022. It is anticipated to reach USD 31.09 billion by 2032, with a compound annual growth rate (CAGR) of 3.7% during the forecast period. The growth in market revenue can be attributed to several factors, including the increasing utilization of 3D printing technology, the demand for affordable and efficient printing solutions, and the rising need for secure printing services.
In recent years, there has been a significant surge in the adoption of 3D printing technology across various industries. This technology is being utilized for purposes such as prototyping, tooling, and the production of intricate parts, leading to a substantial increase in demand. Moreover, the healthcare industry is witnessing the prominent use of 3D printing for manufacturing medical implants and prosthetics. This trend is expected to continue over the projected period, further driving the expansion of the market's revenue.
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The rising need for affordable and effective printing solutions is another significant element increasing the market for sophisticated printers. People and businesses are always looking for printing options that provide high-quality prints at a reasonable price. As a result, cost-effective and effective printing technologies such as inkjet printing and laser printing have been created.
In addition, the market's revenue growth is expected to be fuelled by the growing need for secure printing services. Businesses and individuals are becoming quite conscious of the need to protect their data due to the rise in cyberattacks. Businesses and individuals are adopting sophisticated printers with built-in security features such as encrypted hard drives and user authentication, which is improving the market's revenue growth.
The market for advanced printers is also expected to expand as a result of technological developments such as cloud printing and mobile printing. Businesses and individuals are finding it very necessary to be able to print from any location, at any time, and using any device, which is what is propelling the development of cloud and mobile printing solutions.
Competitive Landscape:
- HP Inc.
- Canon Inc.
- Epson
- Brother Industries, Ltd.
- Xerox Corporation
- Konica Minolta Business Solutions U.S.A., Inc.
- Ricoh Company, Ltd.
- Samsung Electronics Co., Ltd.
- Sharp Corporation
- Dell Technologies
The global market is further segmented into type and application:
By Technology Type Outlook
- Inkjet
- Laser
- Thermal Transfer
- Others
By End-use Industry Outlook
- Manufacturing
- Healthcare
- Education
- Retail
- Others
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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