Wilmington, Delaware, United States, June 26, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - Need for multi-function capabilities and high print speed is anticipated to create growth opportunities for vendors and manufacturers in the commercial printer market.
Surge in adoption of energy-efficient office printers is likely to propel the market. The commercial printer market was valued at US$ 395.3 Bn in 2022 and projected to reach US$ 498.4 Bn by 2031.
Manufacturers are adding new features in commercial printers such as advanced control feature and automatic page feeders in order to bolster business growth and tap into opportunities in digital publishing and advertisement industries. Recent market trends indicate end-users are inclined toward multi-function commercial printers, especially among enterprises.
Key Findings of Study
- Increase in Usage of Commercial Printers in Packaging and Advertisement Industries: Small-sized business in end-use industries are keen on adopting commercial printers to reduce the cost of printing. Considerable usage of multifunction printers in packaging and advertising companies/agencies presents significant growth opportunities to companies in the market.
- Surge in demand for commercial printing solutions among SMEs for color printing and high-speed print abilities is anticipated to propel the market. Incorporation of advanced technologies, such as Wi-Fi and cloud, in commercial printers is anticipated to accelerate market development.
- Significant Adoption of Digital Printing Technology: Rise in utilization of digital printing technology in large corporations and advertising agencies is expected to augment global commercial printer market size. Digital printers are used by commercial end-users for high-speed, high-volume printing applications, in which the artwork is less intricate.
- Rise in need for cross media publishing is propelling the usage of digital printing, which, in turn, is expected to broaden market outlook. Rapid increase in popularity of digital books and a fast-emerging publishing industry in relation to personalized advertisement are expected to augment market size.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 395.3 Bn | |
| Estimated Value | US$ 498.4 Bn | |
| Growth Rate - CAGR | 2.7% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 160 Pages | |
| Market Segmentation | Product Type, Function, Printing Speed, Printing Volume Per Month, Price Range, Distribution Channel | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | Epson America, Inc., Hewlett-Packard (HP), Xerox Corporation, Ricoh, Dell Inc., Brother, Lexmark International, Inc., Samsung, Oki Data Americas, Inc., Heidelberger Druckmaschinen | |
Key Growth Drivers of Commercial Printer Market
- Increase in demand for high-speed and high-quality printing solutions among small- and middle-scale businesses is a key driver of the commercial printer industry. Rise in adoption of commercial printers in workplace for high-volume office printing is a key trend that is propelling the market expansion.
- Significant utilization of digital printing technologies in large corporations, such as advertising agencies and print service providers, is anticipated to drive the commercial printer market. Companies in the market are tapping into significant opportunities due to increase in incorporation of inkjet and laser printing technology in commercial printing solutions.
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Regional Growth Dynamics
The commercial printer market in Asia Pacific is projected to offer substantial growth opportunities to printer manufacturers. Increase in demand for commercial printing solutions in the e-commerce industry is likely to fuel market growth in the region. Considerable usage of commercial printers among small- and medium-scale enterprises is likely to propel the market in Asia Pacific. Expansion of the advertisement industry is likely to boost market value in the region in the near future.
North America and Europe are anticipated to offer substantial market opportunities in the next few years. The market in these regions is projected to expand at a steady pace during the forecast period from 2023 to 2031. Rise in demand for commercial printers among advertising agencies, large corporations, and print service providers in the U.S. is expected to strengthen the market in North America.
Competition Landscape
Leading players are focusing on product portfolio expansion, merger & acquisition, and comprehensive research & development activities in order to increase market share.
Key players operating in the market are:
- Epson America, Inc.
- Hewlett-Packard (HP)
- Xerox Corporation
- Ricoh
- Dell, Inc.
- Brother
- Samsung
- Lexmark International, Inc.
- Oki Data Americas
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Segmentation
The commercial printer market is segmented based on
Product Type
- Laser Printer
- Inkjet Printer
Function
- Print-only
- Multi-function
Printing Speed
- Up to 30 pages per minute
- 31 – 40 Pages Per Minute
- 41 – 50 Pages Per Minute
- More Than 50
- Pages Per Minute
Printing Volume Per Month
- Up to 3,000 Pages
- 3000 – 6000 Pages
- More Than 6000 Pages
Price Range
- Less Than US$ 150
- US$ 150 – US$ 300
- US$ 300 – US$ 600
- Above US$ 600
Distribution Channel
- Online
- Company-owned Websites
- E-commerce Websites
- Offline
- Specialty Stores
- Other Retail Stores
- Direct Sales
Region
- Asia Pacific
- North America
- Europe
- Middle East & Africa
- South America
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