Technological advancements are likely to be beneficial for the growth of the inkjet printer market

Inkjet printer market
Inkjet printer market

The global inkjet printer market is expected to reach a valuation of $59.1 billion in 2023, driven by growing demand for UV-curable inks. The trend is expected to create new opportunities for the market, leading to an expected CAGR of 6.7% between 2023 and 2033, reaching a total valuation of approximately $113.1 billion by 2033.

Technological advancements in inkjet printing have played a major role in driving the adoption of inkjet printers in various industries. The improvements have led to remarkable improvements in print speed, print quality and versatility, making inkjet printers more capable and efficient than ever before.

A major area of ​​advancement is printhead technology. Inkjet printers now feature advanced print heads that can deliver accurate and consistent droplet placement, resulting in sharper and more accurate prints. Print heads are designed to eject small ink droplets onto the print substrate with high precision, ensuring excellent image resolution and detail. The development has revolutionized the printing industry by enabling the production of high quality prints suitable for a wide range of applications.

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One of the key factors driving the growth of the inkjet printer market is the continuous technological advancement in inkjet printing technology. Inkjet printers have witnessed remarkable improvements in printing speed, print quality and versatility. Advanced printhead technology, higher resolution capabilities and the ability to print on a wide range of substrates have expanded the range of applications of inkjet printers. The developments are expected to drive the adoption of inkjet printers in sectors such as advertising, packaging, textiles and signage.

A major factor contributing to the market growth is the growing demand for digital printing. There is an increasing need for printers that can deliver high-quality prints with shorter turnaround times and customization options, with the shift from traditional analogue printing methods to digital printing. Inkjet printers, with their ability to produce vivid colors and accurate detail, are well suited for digital printing applications. They provide cost-effective printing solutions for small to medium runs and are widely used in a variety of industries including advertising, publishing and packaging.

The increased adoption of inkjet printers in industrial printing applications is also accelerating market growth. Industries such as pharmaceuticals, food and beverage and logistics need efficient and reliable printing solutions for labeling, coding, marking and packaging products. Inkjet printers provide the ability to print variable data, including barcodes, QR codes and serial numbers, on various substrates. Their versatility makes them very valuable in industrial applications where accuracy and durability are crucial. As demand for industrial printing solutions continues to rise, the inkjet printer market is expected to experience substantial growth.

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Most important conclusions from the market research

  • The global inkjet printer market was estimated at $55.4 billion at the end of 2022.
  • From 2018 to 2022, market demand grew at a CAGR of 5.9%.
  • China is expected to have a dominant CAGR of 7.7% during the forecast period.
  • By printer type, the large format printer segment is expected to register a CAGR of 6.6% by 2033.
  • Based on the end-user sector, the institutional segment is expected to dominate the market with a CAGR of 6.5% by 2033.
  • From 2023 to 2033, the inkjet printer market is expected to flourish at a CAGR of 6.7%.
  • By 2033, the market value of inkjet printers is expected to reach $113.1 billion.

The rising popularity of eco-friendly printing solutions across the world is a major factor that is expected to drive the growth of the inkjet printer market in the near future, notes an FMI analyst.

Competitive landscape

Prominent players in the inkjet printer market include HP Inc., Canon Inc., Seiko Epson Corporation, Domino Printing Sciences plc, Brothers Industries Ltd., Hitachi Industrial Equipment Systems Co., Ltd., Inkjet Inc., Xerox Corporation, Videojet Technologies, Inc., Markem-Imaje Corporation and Lexmark International, Inc., among others.

Recent developments

  • In 2020, Epson introduced the SureColor P Series printers, including the SureColor P7570 and P9570, featuring advanced PrecisionCore printhead technology and UltraChrome PRO12 pigment ink for professional photo and art printing.
  • In 2020, HP introduced the HP Stitch S1000, a dye-sublimation printer designed for textile and soft signage printing, offering fast production speeds and vibrant colors.
  • The same year, Canon introduced the imagePRESS C165, a compact color inkjet press with high-quality output and versatile media handling capabilities.

More valuable insights available

Future Market Insights provides an unbiased analysis of the global inkjet printer market, with historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand the opportunities in the inkjet printers market, the market is segmented on the basis of printer type (single function printers, multifunction printers, wide format printers, industrial inkjet printers, textile inkjet printers and inkjet press), by technology type (continuous inkjet and drop-on-demand), by substrate (plastic, metal, paper, fabric, ceramics and others) and by end-use industry (consumer, institutional and industrial), in five major regions (North America, Latin America, Americas, Western Europe, Eastern Europe, South -Asia and the Pacific, East Asia and the Middle East and Africa (MEA)).

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Future Market Insights, Inc. (ESOMAR Certified, Stevie Award Recipient and Member of the Greater New York Chamber of Commerce) provides deep insights into the driving factors driving demand in the market. FMI is the leading global provider of market information, advisory services, consultancy and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial and Chemical markets. With a vast team of more than 400 analysts worldwide, FMI offers global, regional and local expertise on diverse domains and industry trends in more than 110 countries.

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