Market Size of Hardcopy Peripherals & Printing Consumables Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 7.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Hardcopy Peripherals & Printing Consumables Market Analysis
The Hardcopy Peripherals & Printing Consumables Market is expected to grow at a CAGR of 7% over the forecast period 2021 to 2026.
- Expanding usage of printing consumables in educational institutes, organizations, and commercial sectors such as packaging and textile have been driving the growth of the specialty printing consumables market.
- Expansion in the textile printing industry, mounting applications in the packaging industry, industrial, and IT sectors is likely to encourage the use of digital printing technology in the market over the forecast period and is presumed to drive demand for Hardcopy Peripherals & Printing Consumables required for business communication activities in their business processes.
- According to CyberMedia (India) Ltd, the hardcopy peripherals market's growth was led by Inkjet printers, specifically Ink Tank printers, and now command the maximum part of the overall Inkjet market. The online sales played a significant role in catering to the market's increased demand from the Consumer and SMB segment.
- According to gfu & BVT, in 2019, the total number of sales for printers, scanners, and multifunctional devices (MFD) generated roughly 425 million euros, and approximately 3890 thousand devices were sold in Germany.
- Also, the increasing size of exports and online orders by E-commerce websites is anticipated to deliver the growth possibilities to the Hardcopy Peripherals & Printing Consumables Market players in the forecasted period.
- Toner being a powdered mix, is applied in laser printers and photocopies to print text on paper and images. It is widely accepted for commercial publishing such as novels, newspapers, and journals.
- With the flourishing education industry globally, the need for printed study material is progressing, thereby encouraging the growth of the Hardcopy Peripherals & Printing Consumables Market in this segment.
- On the other hand, the introduction of less time consuming and economical products are likely to pose a threat to the market.
Hardcopy Peripherals & Printing Consumables Industry Segmentation
A hardcopy peripheral device, also sometimes called auxiliary equipment, is any connected device, internal or external, that provides a computer with additional functionality. A printer, copiers, and multifunctional systems are hardcopy peripherals that can create human-readable representations of graphics or text on paper or other physical media. Printer ink cartridges, toner cartridges, and other supplies, including printer drums and printer fuser units, are all classified as consumables or products that are purchased recurrently as part of printer's regular maintenance.
Hardcopy Peripherals & Printing Consumables Market Size Summary
The Hardcopy Peripherals & Printing Consumables Market is experiencing significant growth, driven by the increasing demand for printing solutions across various sectors such as education, packaging, and textiles. The expansion of digital printing technology is further propelling this market, as businesses seek efficient and cost-effective solutions for their communication needs. The rise of e-commerce and online sales has also contributed to the market's expansion, with inkjet printers, particularly Ink Tank models, leading the demand. The market is characterized by a moderate level of competition, with major players like Canon Inc., Seiko Epson Corporation, and HP Inc. investing in research and development to enhance product offerings and meet the evolving needs of end-users.
In addition to traditional printing applications, the market is witnessing a surge in demand for 3D printing inks, driven by advancements in technology and increased interest from various industries. Digital printing's rapid adoption is enhancing capabilities in packaging and personalization, as seen in campaigns like Coca-Cola's 'Share a Coke.' However, environmental concerns regarding volatile organic compounds in inks are prompting a shift towards eco-friendly alternatives, influencing regulatory frameworks. Despite challenges such as stringent regulations in the packaging industry, the market continues to offer growth opportunities, particularly in the United States, where sectors like ceramics, packaging, and textile printing are expanding.
Hardcopy Peripherals & Printing Consumables Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Introduction to Market Dynamics
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1.2 Market Drivers
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1.2.1 Growth in the Production Digital Printing Color Volume
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1.2.2 Increasing Demand for Value-addition through Innovative Decorative and Tactile Elements within the Printed Piece
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1.3 Market Challenges
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1.3.1 Overall Decline of the Print Manufacturing Business
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Hardcopy Peripherals & Printing Consumables Market Size FAQs
What is the current Hardcopy Peripherals & Printing Consumables Market size?
The Hardcopy Peripherals & Printing Consumables Market is projected to register a CAGR of 7% during the forecast period (2024-2029)
Who are the key players in Hardcopy Peripherals & Printing Consumables Market?
HP Inc., Canon Inc., Seiko Epson Corporation, ACM Technologies Inc. and AstroNova Inc. are the major companies operating in the Hardcopy Peripherals & Printing Consumables Market.
