It is estimated that the global commercial printer market will be worth US$ 789.5 million in 2022. The commercial printer market is expected to grow at a 2.3% CAGR and reach US$ 987.9 million by 2032.
Because of the increasing integration of commercial printers into office infrastructure and their transformation in the printing industry, the commercial printer market is one of the fastest growing markets. Furthermore, the commercial printer market expansion is attributed to the global digitalization of various ventures. The popularity of advanced printing has fueled the demand for master printers, which increases efficiency.
Commercial printers have become commonplace in both homes and workplaces, and many professional photographers are using them as well. Film photography is becoming more popular among photography enthusiasts and professionals.
Commercial Printer Market is one of the rapidly expanding markets as a result of the growing integration of Commercial Printers in office foundations and variation in the photograph printing industry. These variables have resulted in the rapid expansion of Commercial Printer all over the world. Furthermore, the global digitalization of various businesses will fuel the growth of the Commercial Printer Market.
Commercial printers are high-quality printers with advanced printing features such as a multi-sensor with built-in densitometer calibration, a colour calibration management system, a MicroPiezo AMC print head, and so on. Furthermore, commercial printers are used to transfer information or data from electronic to paper format. Today’s commercial printers are built to provide 3D professional printing and high-quality visual printing services.
Drivers and Challenges in the Commercial Printer Market
The rise in demand from office infrastructure integration and educational institutions are the major growth drivers of the Commercial Printer Market. Furthermore, increased flexibility and responsiveness of Commercial Printers will propel the Commercial Printer Market forward. The increasing digitalization of various industries must drive the growth of the Commercial Printer globally.
The increasing adoption of ePaper, global financial uncertainty, and macroeconomic situations such as currency exchange rates and economic difficulties are some of the major factors impeding the growth of the Commercial Printer Market.
Landscape of Competition
The following are the key contracts in the commercial printer market:
- Honeywell International, a commercial and consumer products manufacturer based in the United States, introduced the Professional Printer “PM42” in August 2016 to provide heavy-duty printing.
- HP Inc., an American technology company, announced in September 2016 that it would acquire Samsung’s printer business for $1.05 billion in order to compete in the copy machine market.