The global inkjet print market could be worth as much as $58.1bn (£43.2bn/€50.1bn) by the year 2026, according to a new report by market research company Global Industry Analysts.
The ‘Inkjet Printers - Global Market Trajectory & Analytics’ report estimates that the global inkjet market was worth approximately $42.0bn in 2020, but is likely to grow at a compound annual growth rate (CAGR) of 5.3% between now and 2026.
Large-format print is likely to play a major role in the growth of the market, with this area in the US, Canada, Japan, China and Europe markets expected to expand at a CAGR of 5.3% from a value of $16.7bn in 2020 to $23.9bn at the end of the reporting period.
Global Industry Analysts noted that China in particular is likely to see significant growth in large-format inkjet over the next five years, with the country set to be the fastest growing region in the world for this segment.
The single functional printers is also compacted to experience growth between now and 2026, with Global Industry Analysts forecasting a CAGR of 4.8% over the period to reach an overall market value of $2.9bn in 2026.
After taking into account the impact of the Covid-19 pandemic and the economic crisis that has incurred as a result, growth in the multi-functional Printers segment is likely to grow at a CAGR of over the next seven-year period.
Taking a wider look at the inkjet market as a whole, Global Industry Analysts said that the US will remain the leading region for inkjet print technology, having been valued at $12.1bn in 2021.
In contrast, while China’s domestic market is forecast to expand at a CAGR of 8.2% between now and 2026, it will only reach a value of $11.bn by the year 2026, meaning that it will remain behind the US.
Elsewhere, Japan and Canada are forecast to grow at a CAGR of 2.9% and 4.8%, respectively over the analysis period, while in Europe, Germany is likely to grow at approximately 3.3% CAGR in the reporting period.
Publication of the report comes ahead of the FESPA Global Print Expo 2021, which will run from 12-15 October at the RAI Exhibition Centre in Amsterdam, the Netherlands.
The event will play host to some of the leading brands from the global inkjet print market, allowing those in attendance to find out more about the latest technology in this sector, as well as current and potential market trends.
To learn more about FESPA 2021, view the full exhibitor list and register to attend, please click here.
by Rob Fletcher