Global Printer Market Size was $62.47 Billion in 2023

Global Printer Market Overview

According to Global Market Monitor, the global printer market size was $62.47 billion in 2023 with a CAGR of 2.61% from 2023 to 2028.

A printer is a type of computer output device, which can permanently output the data stored in the computer to paper, transparencies, or other flat media in the form of text or images. According to the method of printing the image on paper, it can be divided into laser printer, inkjet printer, impact printer, dot matrix printer, and so on.

The Fast-Growing Advertising Industry

The global industrial printers market is driven by factors such as mass customization and growing demand for textile printing. Textiles require mass production of items such as decorative laminates, fashion fabrics, etc., and therefore, there is a high demand for printing. The latest innovations in industrial printing technology have led to custom printing and frequent design changes, and have reduced the time from design to production, as well as risk and cost.

The industrial printer market is also primarily driven by the advertising needs of small or large businesses, such as advertising agencies. Large format printers are primarily used to advertise on banners, posters, signage, billboards, and hoardings. Banners and billboards contain detailed information, including images, graphics, and logos, to get the viewer's attention. Therefore, marketers prefer large format printers to print visual campaigns, including graphic-rich posters and banner ads with high-quality images to display in offices or public places. It enables advertising and marketing professionals to enhance brand awareness and raise awareness of products/services in specific industries. The rapidly evolving advertising industry coupled with the growing demand for higher print resolution and better print quality is expected to drive the market growth.

Market Constraints and Challenges

For new entrants, the company's main competitors are the large global printing equipment manufacturers with international recognition and strong capabilities. The global printing industry has been undergoing new changes in recent years, with a growing demand for personalized and finished products, increasing concentration in the printing industry, and unleashing demand from Asia Pacific and emerging market regions. New entrants will need to strengthen their competitiveness through digital transformation, consolidation of technological advantages, and cost control measures. However, if market competition intensifies and companies are unable to effectively enhance their competitive strengths, adapt quickly to industry trends and the ever-changing market environment, and consolidate their dominant competitive position in the industry, they risk losing market share and weakening profitability.

Drivers	The printer has excellent performance and a wide range of applications. Market and technology development Big companies have good branding Technological innovation and new product development The development of new downstream products is driving the demand for printers.
Limitations	Production is difficult and raw material costs are high. Technological constraints exist in some developing regions.