Global Printer Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Global Printer Market accounted for USD 42.35 billion in revenue for 2020. It is expected to reach USD 54.83 billion by 2026, registering a CAGR of 4.55% during 2021-2026. With the outbreak of COVID -19, people started stocking up on lockdown essentials, a trend with the home printer market that grew considerably amid work-from-home situations. For instance, from April to June 2020, Brother Industries Limited experienced a surge in demand and witnessed a rise of 30% in sales for its momo laser printers and 42% in color laser printers, mainly catering to the home environment.
Key HighlightsThe Global Printer Market is is moderately consolidated, with a majority share acqyired by few number of global players. High investments in R&D, new product launches, market initiatives, mergers and acquisitions, partnerships, collaborations, are the prime growth strategies adopted by companies to sustain the competition. Key players in the market are Canon, Xerox, Ricoh, and Konica Minolta
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