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.
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 Global 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.
News Courtesy: P&S Market Research