Production Printer Market to Witness a CAGR of 5.1% in Near Future

The demand for personalized solutions is growing across the globe. With the rapidly rising disposable income, people are spending increasingly on products that complement their individual personalities.

The major brands are under pressure to provide better experiences to the customers, which is why they are focusing increasingly on enhancing customer engagement, primarily through innovative packaging.

According to a research conducted by P&S Intelligence, the global production printer market attained a value of $4.9 billion in 2017 and is predicted to advance at a 5.1% CAGR during the forecast period (2018–2023).

Digital printing technology is aiding these companies in offering brand protection, value-added serialization, relevant personalization, and test-market prototyping. Furthermore, by making use of digital printing on flexible substrates and plastics, the businesses are able to provide high image quality, minimal inventory, and high-impact branding to their customers.

Among the two types of production printers, namely color and monochrome, the larger demand during 2013–2017 was created for color printers and the situation is going to be the same in the near future as well.

The various technologies on which production printers are based include offset, laser, gravure, inkjet, flexography, screen, and toner. Some other technologies are dye-sublimation, pad, and relief print. Out of these, the largest demand was created for the inkjet production printers during 2013–2017.

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The reason for this was that these printers are able to provide high-quality and swift color printing. Apart from this, high-speed inkjet printing is rapidly becoming the preferred option for printing transactional documents, as the requirement for print on demand services is growing.

Attributed to these factors, inkjet production printers are going to be the most in demand in the coming years as well.