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The revenue of the global printer market in 2020 is US$4.235 billion. It is expected to reach USD 5.483 billion by 2026, with a compound annual growth rate of 4.55% from 2021 to 2026. With the outbreak of COVID -19, people began to hoard and lock in necessities, which is a trend where the home printer market has grown substantially while working from home.
New York, August 18, 2021 (GLOBE NEWSWIRE) - Reportlinker.com announced the release of the report "Global Printer Market-Growth, Trends, COVID-19 Impact and Forecast (2021-2026)"-https:// www.reportlinker .com/p06129748/?utm_source=GNW For example, from April to June 2020, Brother Industries Ltd. experienced a surge in demand. Its momo laser printer sales increased by 30%, and its color laser printer sales increased by 42 %, Mainly caters to the home environment. -The global printing industry is experiencing significant growth in emerging markets including China, India and the ASEAN region. Recent examples, such as HP launched the world's first high-capacity HP Neverstop laser printer in the Indian market, which is characterized by economical benefits and reduces common printing interruptions through innovation and digital integration. Similarly, Canon launched seven new ink cartridge printers in India. The PIXMA G series printers have a drip-free, hands-free ink replenishment mechanism and user-replaceable maintenance cartridges to minimize downtime in the home and business areas. -The ink ecosystem is also expected to evolve with inkjet printing. At present, solvent-based, water-based and UV-based inks are widely used, and LED inks continue to grow. The market is also experiencing the introduction of hybrid UV/water systems. However, relatively high ink costs are still a major issue, leading to low conversion rates from analog to digital suppliers. It is expected that during the forecast period, more and more applications and economies of scale will reduce ink prices. In addition, the multiple advantages provided by multifunction printers have further promoted the market growth of small and medium-sized enterprises and individual users. -Market vendors have been investing in the development of wireless printers to match the rapidly developing network infrastructure in various countries. For example, in May 2021, Zebra Technologies released the ZSB series of printers, which are their first wireless label printing solution designed for the small office home office (SOHO) market. It includes eco-label cartridges, modern label designers and mobile application software, and further provides a cloud-based experience with fast printing capabilities. -The introduction of environmental protection practices is undergoing major changes in activities and processes. In addition to several new initiatives for the printing industry, end-user departments and market suppliers are trying to reuse, reduce and recycle. Major market trends The adoption of multifunction printers is expected to grow significantly-as consumers become more energy-neutral, the demand for MFPs has grown substantially in the past few years. The high energy demand of multiple independent printers in the workplace has forced organizations to develop print management strategies, including upgrading equipment and managing printing, copying, and mail centers. -Companies such as Ricoh, Hewlett-Packard, Canon, and Epson regularly invest in research and development and continuously strive to improve their products. For example, in January 2021, Ricoh released the monochrome RICOH IM 9000/8000/7000, reflecting the comprehensive representation of all key products in its advanced MFP product line. In order to compete with it, in April 2021, Epson released the WorkForce Enterprise WF-M21000 black and white A3 multifunction printer with a printing speed of 100 ISO ppm. -MFP is also more secure than standalone printers. Because they use a smaller number of devices and reduce machine variability, the risk is low, which makes it easier for IT personnel to obtain protection than a single desktop printer. -Japan observed a significant drop in MFP print volume in April and May 2020, while Thailand’s MFP print volume was significantly affected in April, May and July 2020. Suppliers in the market rely heavily on service revenue rather than revenue from printing products during the epidemic. Significant growth will occur in the Asia-Pacific region-as many well-known market players operate in the region, demand for the printer market in the Asia-Pacific region is increasing. Japan is home to many of these market participants, as well as the domestic market for companies such as Canon, Seiko Epson, Ricoh, Fujifilm Holdings, and Brother Industries. -Sales of printing hardware in the region due to customer business restrictions, which led to a decline in sales of related consumables. By capturing the demand for working and studying at home in countries such as China and Japan, as well as the market recovery in education and remote working conditions in some emerging countries, market suppliers have witnessed the increase in sales of inkjet printers. -End users in the region are also adopting new technologies to meet their printing needs. Market suppliers are also focusing on expanding their influence in developing countries such as India. For example, in September 2020, Canon India announced that Replika Press Pvt. Ltd. has installed VarioPrint i300, a B3 sheet-fed inkjet color digital printer. Replika Press became the first company in India to install this solution, an advanced inkjet technology. -In addition, in January 2021, Pantum, a developer and manufacturer of laser printers and printing solutions, announced the launch of the Elite series of printers in the Indian market, including color laser printer models and A4 laser printers. -Commercial and promotional printing, such as calendars, diaries, brochures, catalogs, etc., have been severely affected as many companies have moved to digitalization. For example, the Life Insurance Company (LIC) cancelled printing diaries in 2020, and many other government departments and companies also follow the same competitive pattern. The global printer market is moderately integrated, with most of the shares being obtained by a few global players. High investment in research and development, new product launches, market plans, mergers and acquisitions, partnerships, and cooperation are the main growth strategies adopted by the company to maintain competition. The main players in the market are Canon, Xerox, Ricoh, and Konica Minolta-July 2021-Epson America has won a Sourcewell contract for its portfolio of digital imaging solutions, including commercial inkjet printing, copying, scanning hardware and large Format printer. The contract with Sourcewell opens up a new way for Epson Business First partners to provide high-quality commercial inkjet technology to many organizations that rely on Sourcewell. -July 2021-Xerox launched the Xerox AltaLink C8100 and Xerox AltaLink B8100 series of multifunction printers (MFP) to better support the flexible working environment brought about by the pandemic, and to enhance the company's access to the ConnectKey application to accelerate digital transformation. -July 2021-Konica Minolta Business Solutions launched the AccurioPress C7100 series of digital color printing presses, using innovative technologies to help companies achieve higher profit growth. The new AccurioPress C7100 model provides 100 pages per minute (ppm), and the AccurioPress C7090 provides 90 ppm. Reasons for purchasing this report:-Market Estimate (ME) table in Excel format-3 months of analyst support Read the full report: https://www.reportlinker.com/p06129748/?utm_source=GNW About Reportlinker ReportLinker is an award -Successful market research solutions. Reportlinker finds and organizes the latest industry data so you can get all the market research you need instantly in one place. __________________________
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