LONDON--(BUSINESS WIRE)--Technavio’s latest market research report predicts the global wireless printer market to reach revenues worth USD 73 billion by 2019, posting a moderate growth rate over the next four years.
In this report, Technavio covers the present scenario and growth prospects of the global wireless printer market for 2015-2019. This market research report also includes up to date analysis and forecast for various market segments and all geographical regions.
“Over the years, the trend of integrating wireless devices with office infrastructure has gained significant traction. Therefore, increasing demand for PCs and laptops in offices and homes is complementing the global demand for printers. Customer demands have also transitioned significantly over the years, and are no longer limited to just printing. For the convenience of customers, manufacturers are innovating new products and solutions that allow printer sharing over multiple networks while integrating with cloud systems,” says Technavio’s lead market research analyst for hardware and semiconductor research, Navin Rajendra.
“By deploying wireless technology to share files, printing service providers are offering managed print services to companies through outsourced third-party vendor arrangements. It not only saves 30% of the total cost of printing but also provides better integrated and secured document solutions. As per the key findings of this market forecast, the growing popularity of wireless docking stations among electronics consumers will augment wireless printer sales during the forecast period. This market analysis also indicates a decline in prices of wireless docking devices over the next four years as technology improves,” adds Navin.
Some of the other driving forces are the rise in digital printing, deployment of BYOD (bring-your-own-device) and CYOD (choose-your-own-device) policies, and the use of docking stations as connectors.
Rise in digital printing
A rapid increase in the number of internet users worldwide has revolutionized the global wireless printer market. People across the globe now have access to a vast amount of data which also necessitates the need to print on the go.
Although in the past, printing had limitations and was largely dependent on the printing press, wireless digital printing has enabled the use of smart personal devices for printing. Devices such as smartphones and tablets have emerged as a popular medium to connect to wireless printers, and this trend is expected to provide a significant thrust to R&D activities for improving functionality in wireless printers over the forecast period.
Growing adoption of wireless printers by hobbyists and entrepreneurs
As a result of an increase in the number of hobbyist photographers, the demand for wireless printers, particularly wireless color laser printers is growing. According to the trend analysis presented in this report, the market is slated to witness a significant increase in the demand for wireless printers from new entrepreneurs and numerous start-ups, particularly from developing markets. This trend is expected to fuel the demand for wireless printers from these ventures through the 2019 period.
Increase in demand for inkjet printers
Recent advancements in inkjet printers, including the invention of UV-curable inkjet printers have resulted in their increased demand. Advanced inkjet printers offer several advantages such as greater speed, low production costs, and a wide range of applications. Technological advancements in inkjet printers have made them highly suitable for industrial-scale production, especially when factors such as cost, quality, and durability are of key concern. Integration of wireless technology with inkjet printers and its fast adoption among consumers will thus emerge as a key growth driver for this market.
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