The global printer supplies market to grow at a CAGR of 2.42% during the period 2016-2020.
The report covers the present scenario and the growth prospects of the global printer supplies market for 2016-2020. To calculate the market size, the report covers the revenue generated from the sales of printer supplies such as inks and toners. It does not consider the supplies for 3D printers, components used for the production of printer supplies, cartridge refilling services, and counterfeit products to estimate the market size. The report also includes a discussion of the key vendors operating in this market.
A trend boosting market growth id the rising demand for digital printing. The increasing replacement of traditional printing methods with digital printing has contributed to the market to a certain extent. In digital printing, there is no need to replace printing plates while plates have to be repeatedly replaced in traditional printing methods such as lithography, flexography, gravure, and letterpress. Therefore, digital printing has the advantages such as quicker turnaround time and lower cost. It also provides customers, especially publishers, with more flexibility, greater inventory turnover, and higher profitability.
According to the report, a key growth driver is the increased demand for inkjet printers and wireless printers. Advances in inkjet printing technology, including the invention of UV-curable inkjet printers, have resulted in increased demand for these printers. Advanced inkjet printers have many advantages such as greater speed, low production costs, and a wider range of applications. Technological advances have made inkjet printers highly suitable for industrial scale production, particularly when buying criteria such as quality, cost, and durability are concerned.
Further, the report states that one challenge that could hamper market growth is the consumer preference for ebooks, which results in a decline in the publishing sector.
- Brother Industries - Canon - HP - Seiko Epson - Kyocera - Lexmark International - Ricoh