Production printers: Key market research findings
- Increasing sales for physical books drives market growth
- APAC dominates the market geographically
- Key vendors – Xerox, HP, Ricoh, Konica Minolta, and Cannon
Technavio’s market research analyst predict the global production printer market to grow at a CAGR of around 2% between 2016 and 2020. The demand for production printers is augmented by the rise in sales of physical books. At present, APAC dominates the production printer market globally by accounting for more than 37% of the overall market share. The low Internet penetration in the region, when compared to the Americas and EMEA, is expected to propel growth in the production printer market in APAC during the forecast period.
The new market research report from Technavio presents a breakdown and analysis if the portable printer segments based on the application.
“Recently, there has been an increase in the adoption of print on demand (POD) technology. POD is a printing technology, wherein the copies of a book or document are not printed until the order is received. This reduces the risk of inventory, and the publisher can keep the cost of printing under control. Companies are increasingly venturing into the POD market owing to benefits such as reduced financial risk, wasteful inventory, and cost of setting up,” says Sunil Kumar Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research.
During 2015, the transactional segment dominated the global production printer market by accounting for almost 36% of the total market share. Transactional documents are legally relevant documents such as bills, bank statements, invoices, notices, and insurance policies, printed by the company for the clients. However, the market share of transactional printing is expected to decline during the forecast period owing to the increasing volume of transactional documents being shifted online.
The key vendors in the market include Xerox, HP, Ricoh, Konica Minolta, and Cannon. Dominated by five key suppliers, this commercial printers market is headed towards maturity which has compelled manufacturers to concentrate on adding new technologies to their systems to differentiate their products from their competitors’. Some vendors are also adopting application-specific strategies to capture significant market share in that particular segment. This is expected to intensify the level of competition in the market, and the market can also witness a number of mergers and acquisitions during the forecast period.
A more detailed analysis is available in the Technavio report, Global Production Printer Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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