Multi-color Printer Market is Estimated to Grow at a CAGR of 2.5% from 2024 to 2034 and Reach USD 63.7 Billion by 2034 | Future Market Insights, Inc.
The Multi-color Printer Market is Maturing due to Technical Improvements, Evolving Consumer Needs, and Influencing Product Design. FMI Reveals the Market to Expand at a Steady Pace through 2034
/EIN News/ -- NEWARK, Del, July 09, 2024 (GLOBE NEWSWIRE) -- The multi-color printer market valuation is predicted to surpass USD 63.7 billion by 2034. In 2024, sales of color multi-function printers are likely to reach USD 49.7 billion. The global market is projected to record a vibrant 2.5% CAGR between 2024 and 2034.
Due to the growing usage of color printers in the packaging industry and their incorporation into office infrastructure, the multi-color printer market is expanding quickly. The commercial colored printer industry has grown due in part to the global digitalization of enterprises and the availability of color platters on paper. The rising use of digital printing has led to a greater need for colored printers, increasing productivity and client base.
In industries like healthcare, education, and advertising, where effective, superior printing and documentation solutions are essential, there is a special need for color multifunction printers. Organizations striving for enhanced visual communication and operational excellence must have multi-color capabilities and demand for these printers is predicted to rise over the forthcoming decade.
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Advanced features like wireless connectivity, cloud printing, and mobile printing are improving the functionality and usability of color multi-function printers. These innovations enable seamless printing from various devices and platforms without physical connections. Specialized machine refinements like cloud printing enable online retrieval and remote printing, enhancing user experience. The demand for multi-color printers is expected to increase due to the demand for professional-grade color printouts and customized options. A strong marketplace is needed to provide outstanding outcomes.
“Industry is blooming due to the increasing demand for customization, with businesses leveraging multi-color printing to create unique experiences for their customers. As the demand for high-quality, customized printing continues to grow, the multi-color printer market is poised for significant expansion,” says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Takeaways from the Multi-color Printer Market Report:
- The multi-color printer industry grew at a CAGR of 2.1% throughout the historical era. From USD 45 billion in 2019 to USD 48.5 billion in 2023, the market value increased dramatically.
- Based on printer type, the inkjet printer is expected to assume a dominant position in the forecast period. The segment is estimated to attain a share of 42% in 2024.
- Commercial use of printers is projected to obtain a leading share of 55% in the industry in 2024.
- In the United States, the industry is expected to stretch at 1.4% over the forecast period.
- In the Asia Pacific, India and Thailand are the leading performers, attaining CAGRs of 4.5% and 3.5%, respectively, over the forecast period.
- In the European sector, the industry in France is projected to register a CAGR of 2.6% from 2024 to 2034.
Competitive Landscape:
Leading printer manufacturers compete fiercely in the multi-color printer market, continuously creating cutting-edge technology to boost productivity, speed, and print quality. Improved color fidelity, multifunction capabilities, and mobile printing are some of the key characteristics. Through partnerships, acquisitions, and the introduction of new color printer models, manufacturers broaden their market reach and appeal to diverse client segments by using strategic pricing strategies.
These creative strategies help businesses stay competitive in a market where success is mostly determined by innovation, quality, and affordability.
Key Players of Multi-color Printer Industry
- Hewlett-Packard (HP) Inc.
- Canon Inc.
- Epson America Inc.
- Brother Industries, Ltd.
- Lexmark International, Inc.
- Samsung Electronics Co., Ltd.
- Xerox Corporation
- Ricoh Company, Ltd.
- Kyocera Corporation
- Konica Minolta, Inc.
- Fuji Xerox Co., Ltd.
- Sharp Corporation
- Zebra Technologies Corporation
- Seiko Epson Corporation
- Roland DG Corporation
- Mimaki Engineering Co., Ltd.
- OKI Data Corporation
- Toshiba TEC Corporation
- Riso Kagaku Corporation
- Dainippon Screen Mfg. Co., Ltd.
- AstroNova, Inc.
- VIPColor Technologies USA Inc.
- NeuraLabel Printing Solutions
- Colordyne Technologies, LLC
- New Solution SA
- Afinia Label
- Inkcups Now Corp.
- Durst Phototechnik AG
- Gandy Digital
- Mark Andy Inc.
Recent Industry Developments in Multi-color Printer Market
- The K2 Plus and Creality Filament System were introduced by Creality in April 2024, making multicolor printing possible for the first time. Like Bambu Labs' AMS, the new CFS incorporates RFID technology for automated color recognition and supports printing in up to 16 colors.
- The A1 small and AMS light, a new entry-level FDM multi-color 3D printer from Bambu Lab, was introduced in September 2023. It has automated calibration, a build volume of 180x180x180 mm3, and 4-color capabilities.
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Key Segments of Multi-color Printer Industry:
By Color Type:
Based on the color type, the industry is divided into cyan, magenta, yellow, black and other colors.
By Printer Type:
In terms of printer types, the industry is segregated into inkjet printers, laser printers, 3D printers, and other printers.
By End Use:
Grounded on the end use of printers, the industry is categorized into consumer, commercial, and industrial use.
By Region:
Key countries of North America, Latin America, Europe, East Asia, South Asia, Middle East and Africa (MEA), and Oceania have been covered in the report.
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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