Printer supplies: Key market research findings
- Increase in outdoor advertising and promotional activities spurs market growth
- The Americas dominate the market geographically
- Key vendors – Brother, Canon, HP, Seiko Epson, Kyocera, Lexmark International, and Ricoh
Technavio’s market research analysts predict the global printer supplies market to grow at a CAGR of more than 2% between 2016 and 2020. The demand for printer supplies in the market is augmented by the increase in outdoor advertising and promotional activities. Companies are advertising their products using billboards (including 3D billboards), pamphlets, and brochures, which are created using various kinds of printers. Furthermore, numerous events organized across the globe involve a lot of printed material such as banners and posters. During 2015, the Americas dominated the global printer supplies market by accounting for more than 38% of the overall market share. The sustained demand for inkjet printers and color laser printers in the region, particularly in North America, high adoption wireless printers, and demand from corporates and educational institutes are factors that will fuel growth in the printer supplies market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the printer supplies based on the type of sales.
“Of late, there has been a noticeable rise in print-on-demand (POD) services in the market. POD is a printing technology wherein copies of a book or documents are not printed until the order is received. This approach reduces the risk of inventory and helps keep the cost of printing under control. Several new players are venturing into the POD market owing to factors such as minimal financial risk, no wasteful inventory, and minimum set-up cost,” says Sunil Kumar Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research.
By 2020, the OEM segment is expected to continue its market dominance by accounting for almost 78% of the market share. OEMs accounted for more than 92% of the market’s color cartridge sales and 63% of the total monochrome cartridge sales in 2015. The customer perception that OEM supplies are more reliable and durable as well as of better quality is likely boost sales in the OEM segment over the next four years.
The key vendors in the market include Brother, Canon, HP, Seiko Epson, Kyocera, Lexmark, and Ricoh. The global printer supplies market is highly competitive owing to the presence of several well-diversified players. Vendors in the market compete on the basis of technology, pricing, distribution channels, and global presence. As the market is saturated and is moving towards consolidation, M&A is one of the strategies followed by most companies to increase their geographical presence, technical expertise, and sales revenue.
A more detailed analysis is available in the Technavio report, Global Printer Supplies Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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