Inkjet Printers Market, By Technology (CIJ Printer, DOD Inkjet Printer, UV Inkjet Printer), Type, End User, and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
The global Inkjet Printers Market size was estimated at USD 97 billion in 2023 and is projected to reach USD 178.7 billion in 2030 at a CAGR of 9.12% during the forecast period 2023-2030.
Inkjet printers are a type of non-contact printing devices that utilize droplets of ink ejected through nozzles on paper and plastic substrates to recreate digital images. The technology underlying inkjet printers involves ionized ink, which is directed via magnetic plates to spray onto the paper. The applications of these printers span across several industries, including but not limited to advertising, textiles, packaging, education, and pharmaceuticals.
The growth of the global Inkjet Printers market is mainly driven by the packaging industry as it is currently experiencing swift expansion worldwide, primarily due to the substantial demand for convenience-based packaging from various industries including e-commerce transportation and shipment, food and beverage, personal care, household care, and healthcare. Such growth is inducing a substantial requirement for inkjet printers specifically designed for packaging purposes, which represents one of the primary factors propelling the market forward.
On the other hand, the cost of consumables may hamper the market growth to some extent.
The segments of packaging, labeling, and printing have demonstrated a considerable degree of stability during the COVID-19 period. This is primarily attributed to the rise in demand for food and pharmaceutical packaging. However, the outbreak of COVID-19 has caused disruption in the supply chain across various end-user industries, including healthcare, food and beverage, and industrial sectors. Despite the pandemic's significant impact on the economy, inkjet printing companies have been able to meet the demand for COVID-19-related printed advertisements through the utilization of web-to-print technology. Such advertisements are used for conveying all business-customer matters pertaining to the COVID-19 pandemic.
The pandemic had a considerable impact on businesses globally, with nations like India and China bearing the brunt of the virus's outbreak. There has been a considerable demand for packaging in various sectors, including e-commerce transportation and shipment, personal care, household care, food and beverage, and healthcare. This upsurge in the packaging industry is propelling the growth of inkjet printers utilized for packaging purposes, which is one of the primary factors driving the market's expansion. Inkjet printers are widely used in diverse industries, including packaging, education, advertisement, textile, and pharmaceutical. Furthermore, the advertising industry's significant growth, coupled with the need for higher print quality and better print resolution, is projected to fuel the market's growth. The advertising industry utilizes large format printers to manufacture posters, signage boards, banners, billboards, and hoardings containing detailed information such as graphics, images, and logos to attract customers' attention. Consequently, the advertising industry's growth will make a substantial contribution to the inkjet printer market's expansion. These factors have led to the expansion of the market and increased demand for Inkjet Printers solutions.
North America to Dominate the Market