NEW YORK, Sept. 29, 2016 /PRNewswire/ --
"Production printer market to grow at a CAGR of 5.5% between 2016 and 2022"
The production printer market is expected to reach USD 7.74 billion in value by 2022 at a CAGR of 5.5% between 2016 and 2022. By volume the market is expected to reach shipments of 75,087 printer units by 2022. The widespread usage of production printers in the media and advertisement sector and the growing demand from the publishing application are the major factors driving the growth of the market.
"Transactional application expected to dominate the production printer market during the forecast period"
Production printers play a key role in the transactional printing application which includes the large scale printing of bills, statements, invoices, checks, insurance policies, and other informational documents with unique content for each recipient. Production printers are widely used for printing these transactional documents with low cost. Both monochrome and color type printers are extensively used for the transactional application.
"North America expected to hold the largest market share during the forecast period"
The APAC market is estimated to grow at the highest rate in the global market till 2022. The increasing demand for high-volume printing at a low cost and in less time in the publishing application is driving the production printer market in this region, especially in Japan. Currently, North America holds the largest share of the production printer market. There is heavy investment in the U.S. for the transactional and commercial application which is becoming a major hub for the adaption of production printers.
In the process of determining and verifying the market size for several segments and subsegments of the production printer market gathered through the secondary research, extensive primary interviews have been conducted with key people. The break-up of the profiles of primary participants is shown below:
- By Company Type: Tier 1 – 20%, Tier 2 – 45%, and Tier 3 – 35%
- By Designation: C-level – 35%, Director level – 25%, Others – 40%
- By Region: North America – 45%, Europe – 20%, APAC – 30%, RoW – 5%
The geographic segmentation in the report covers four major regions of the world, namely, North America, Europe, APAC, and RoW. The report also profiles the major players in the production printer market, namely, Xerox Corporation (U.S.), Hewlett-Packard (U.S.), Ricoh Company Ltd. (Japan), Konica Minolta, Inc. (Japan), and Canon Inc. (Japan), Agfa and Gevaert N.V. (Belgium), EFI Electronics Corp. (U.S.), Eastman Kodak Company (U.S.), Inca Digital Printers Ltd. (U.K.), and Miyakoshi Co., Ltd (Japan).
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