Printers Market To Reach $71.04 Billion By 2030 | CAGR: 4.7%

Printers Market Growth & Trends

The global printers market size is anticipated to reach USD 71.04 billion by 2030. It is anticipated to grow at a CAGR of 4.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. Technological innovations in the printer market, such as wireless connectivity, cloud printing, and mobile device compatibility, are making printers more versatile and user-friendly. These advancements cater to the evolving needs of both individual and corporate users, driving the adoption of new printer models that offer enhanced functionalities.

The exponential growth of the e-commerce industry has created a substantial demand for packaging and labeling solutions. Printers are essential for producing high-quality labels, shipping documents, and packaging materials. E-commerce businesses rely on efficient printing solutions to manage their logistics, branding, and customer communications effectively. The ability to print customized packaging and labels helps these businesses enhance their brand identity and improve customer satisfaction. As the e-commerce sector continues to expand, the demand for reliable and high-performance printers is expected to rise correspondingly.

Moreover, environmental sustainability is becoming an important factor influencing the demand for printers. Consumers and businesses are increasingly seeking eco-friendly printing solutions that minimize environmental impact. Innovations in printing technologies have led to the development of energy-efficient printers, reduced-waste printing processes, and the use of sustainable materials. For example, some printers now offer features like duplex printing (printing on both sides of the paper) to reduce paper usage. The adoption of eco-friendly practices aligns with global trends towards environmental responsibility and attracts environmentally conscious customers, thereby driving market growth.

Printers, especially those used in commercial and industrial settings, can have high operational costs. These costs include the price of consumables such as ink and toner, maintenance expenses, and the need for periodic part replacement. High operational costs can be a significant deterrent for small and medium-sized enterprises (SMEs) that may not have the budget to maintain and operate advanced printing equipment. In addition, the environmental impact and cost of disposing of used cartridges and other waste materials are concerns that further add to the operational costs.

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Printers Market Report Highlights

• Based on type, the multifunctional printers (MFPs) segment is expected to grow at the fastest CAGR of 6.2% from 2024 to 2030. The demand for MFPs is growing due to their versatility and cost-efficiency. MFPs integrate printing, scanning, copying, and faxing capabilities into a single device, offering a convenient and economical solution for businesses and home users alike. This consolidation of functions reduces the need for multiple devices, saving space and lowering operational costs. The ability to perform various tasks with one machine enhances productivity and streamlines workflow, making MFPs an attractive option for many users.

• Based on technology, the 3D segment is expected to grow at the fastest CAGR of 7.0% from 2024 to 2030. 3D printing technology is being increasingly adopted across various sectors, such as healthcare, automotive, aerospace, and consumer goods. In healthcare, 3D printers are used to create custom prosthetics, implants, and even bio-printed tissues. In the automotive and aerospace industries, they enable the production of lightweight, complex parts that are difficult or impossible to manufacture using traditional methods. The versatility of 3D printing in producing both prototypes and final products is a key driver of its growth.

• Based on connectivity, the wired segment dominated the market with a revenue share of 55.1% in 2023. Wired printers have a direct connection to the computer through a USB cable, ensuring a stable and reliable connection. This direct connection eliminates potential issues with wireless connectivity, such as signal interference or network congestion. In addition, wired printers can communicate at high speed with the computer for data transfer. The USB connection allows quick and efficient printing, making wired printers suitable for high-volume printing needs in offices and commercial settings.

• Based on output, the color printers segment dominated the market with a revenue share of 53.7% in 2023. The primary driver for the dominance of color printers in the market is the growing demand for high-quality prints in both personal and professional settings. Color printers provide vibrant and detailed images that are essential for marketing materials, reports, presentations, and personal use such as photo printing. Businesses, particularly in the marketing and advertising sectors, require high-quality color prints to communicate their messages and create visually appealing materials effectively.

• Based on end use, the industrial segment dominated the market with a revenue share of 39.1% in 2023. The segment encompasses various industries, including manufacturing, packaging, automotive, and aerospace. These industries have a high demand for printing solutions to meet their specific needs, such as labeling, product identification, packaging materials, and signage. In addition, the industrial segment often requires customized and personalized printing solutions. Industrial printers enable businesses to print variable data, unique designs, and specific information on products or packaging, allowing greater customization and personalization.

• In March 2024, Roland DG Corporation launched the VersaOBJECT CO-i series of UV-LED flatbed inkjet printers, offering versatility for printing on a wide range of substrates, including plastic, wood, and metal. These printers support detailed graphics and special effects such as gloss textures and simulated embossing, catering to diverse applications such as consumer product personalization and industrial customization.

Printers Market Segmentation

Grand View Research has segmented the global printers market on the basis of type, technology, connectivity, output, end use, and region:

Printers Type Outlook (Revenue, USD Million, 2017 - 2030)

• Multi-functional Printers

• Standalone Printers

Printers Technology Outlook (Revenue, USD Million, 2017 - 2030)

• Dot Matrix

• Inkjet

• LED

• Thermal

• Laser

• 3D

• Others

Printers Connectivity Outlook (Revenue, USD Million, 2017 - 2030)

• Wired

• Wireless

Printers Output Outlook (Revenue, USD Million, 2017 - 2030)

• Color Printers

• Monochrome Printers

Printers End Use Outlook (Revenue, USD Million, 2017 - 2030)

• Industrial

• Residential

• Commercial

  • Educational Institutions

  • Enterprises

  • Government

  • Others

Printers Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

• Latin America

  • Brazil

• Middle East and Africa (MEA)

  • KSA

  • UAE

  • South Africa

List of Key Players in the Printers Market

• HP Development Company, L.P.

• Canon, Inc.

• Seiko Epson Corporation

• Brother Industries Ltd

• Xerox Holdings Corporation

• FUJIFILM Corporation

• Roland DG Corporation

• Ricoh Company Ltd

• Panasonic Corporation

• Toshiba Corporation