The global production printer market is expected to experience considerable growth due to demand of high speed printing. The high demand of production printers from media and advertising industry and the increased adoption of production printers in publishing application are expected to drive the market during the forecast period.
Production printers provide high volume printing within a short period of time. On a global level, books and magazine publishers are shifting from offset to digital production printing to make their processes more economical. This shift is further resulting in the growth of production printer market. Nowadays, production printers are extensively used for the large-scale printing of transactional documents, including bills, statements, invoices, checks, insurance documents, and other transaction-related documents. Production printers are reliable, cost-effective, high-speed print engines with robust finishing capabilities.
The increased demand for printing of transactional documents with less cost is driving the production printer market for the transactional application. The market for the label & packaging application is expected to grow at a high rate. The label & packaging application includes the printing of packages, boxes, cartons, bags, tags, labels and others. High quality and low printing cost are the key factors driving the adoption of production printers in this market. The color production printers are extensively used in the production printer market as they offer high reliability with good image quality and a wide range of options for document finishing and professional color management. These printers are widely used in the commercial sector and label & packaging industries. Based on technology, the market for inkjet technology-based production printers is expected to witness the fastest growth during the forecasted period. Inkjet printing provides high quality and speed color printing solution. The high-speed inkjet printing is becoming a mainstream technology for printing transactional documents due to the increase in print on demand (POD) services.
Geographically, North America is expected to hold the largest share in the printer production market, while the market is expected to witness highest growth in the Asia-Pacific (APAC) because of the growing usage of production printers, especially in Japan and other countries. The other reasons for the growth of this market in APAC are the on-going development in this region, thus offering huge potential and lucrative opportunities for this market to flourish. The increasing demand for the production of books, magazines, catalogues, manuals and others at a low cost is expected to drive the demand for production printers in Asia-Pacific.
The initial investment cost, competition from substitute technologies and high spending on the installation and maintenance may restrain the development of production printer market to some extent during the forecast period. The growing demand for digital advertisements and e-books are one of the key challenges faced by the major players in this market. In publishing industry, the e-books are gradually being accepted by vast number of reading population, since a large population base is now spending a significant amount of time on handheld electronic gadgets such as smartphones and tablets. However, as the production printers become more economical and since they are already capable of producing high quality color images, they can still sustain the growth amidst the increasing adoption of digital media in advertising and publishing industries.
The key players in the production printers market are Canon Inc., Xerox Corporation, Hewlett-Packard, Ricoh Company Ltd., Konica Minolta, Inc., Agfa and Gevaert N.V. Agfa-Gevaert N.V., EFI Electronics Corp., Eastman Kodak Company, Inca Digital Printers Ltd. and Miyakoshi Co. Ltd.