DUBLIN, June 10, 2019 /PRNewswire/ -- The "Production Printer Market (2013-2023)" report has been added to ResearchAndMarkets.com's offering
The production printer market is predicted to reach $6.6 billion in terms of revenue generation by 2023
The domain growth will be driven by the rising demand for high-speed printing solutions in the publishing, commercial, and label and packaging industries.
On the basis of application, the production printer market is divided into publishing, commercial, label and package, transactional, and others, where others comprise flow tiles, textiles, panels, and wallpapers. Out of these, the publishing category held the largest revenue share (more than 35.0%) in the market in 2017, resulting from the rapid growth in the printing of novels and educational books worldwide. On the other hand, the label and package category is anticipated to register the fastest CAGR over the forecast period. Advantages such as low cost, high quality, and fast turnaround time are expected to result in the growth of the market in the label and package category.
The e-commerce industry is witnessing significant growth globally; it is projected to reach $4.2 trillion by 2021, progressing at more than 15.0% CAGR during 2019-2021. Factors such as internet growth, increasing awareness among the global populace, and lowering product prices have aided the e-commerce market expansion. This, in turn, has resulted in the growth of the labeling and packaging industry, thereby leading to the production printer market prosperity.
New entrants in the e-commerce sector are majorly focusing on print-on-demand (POD) products, which are created with the sole purpose of offering customization services to the consumers. Printing companies are using e-commerce platforms to access a large number of prospective customers. Moreover, e-commerce is also helping vendors to keep track of customer activities online, further helping them analyze what is trending. Hence, the growing e-commerce industry is driving the growth of the market for production printers.
The competition among the players in the production printer market is quite intense. Product launches, product improvements, and partnerships among players are the trends observed in the market. For instance, in January 2019, Xerox Corporation enhanced its AltaLink Multifunction Printers (MFPs) to help companies automatically reset unauthorized changes, customize tasks, and monitor security settings.
Other key players in the production printer market are HP Inc., Canon Inc., Agfa-Gevaert N.V., Konica Minolta Inc., Ricoh Company Ltd., Electronics for Imaging Inc., Inca Digital Printers Limited, Eastman Kodak Company, and Miyakoshi Printing Machinery Co. Ltd.
- Shift from offset to digital printing
- Print protection from fraud and duplicity
- Augmented Reality (AR) for interactive printing
- Increasing demand for customized/personalized solutions
- Focus of commercial and industrial SMEs on expanding their businesses
- Growing e-commerce market
- Improving inkjet printer market
- High initial investment
- Inclination toward online reading materials
- Rising digital marketing solutions market
- Rise of connected multi-function printers (MFPs)
- Wide format printers as a perpetual opportunity
- Canon, Inc.
- Xerox Corporation
- HP Inc.
- Ricoh Company Ltd.
- Konica Minolta, Inc.
- Agfa-Gevaert N.V.
- Electronics for Imaging, Inc.
- Eastman Kodak Company
- Inca Digital Printers Limited
- Miyakoshi Printing Machinery, Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/i0h50b
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