According to Vision Resaerch Reports, the global inkjet printers market was estimated at US$34.22 billion in 2019 and is projected to reach US$ 53.1 billion by 2027, registering a CAGR of 6.5% from 2020 to 2027.

The packaging industry is witnessing rapid growth across the globe due to huge demand from the e-commerce transport and shipment, food and beverages, personal care, household care, and healthcare industries for convenience-based packaging. This growth is creating a massive demand for inkjet printers for packaging purposes, which is one of the major factors driving the market.

The rapidly growing advertisement industry, coupled with increasing demand for higher print resolution and better print quality, is anticipated to drive market growth. Large format printers are used to advertise products on banners, posters, signage boards, billboards, and hoardings. Furthermore, large format printers are used by photographers to print photographs without pixel split, proper color, and combination on any substrate.

The multifunctional printer segment accounted for the largest revenue share of 24.62% in 2019 and is expected to grow considerably over the forecast period. The continuous inkjet (CIJ) printer segment accounted for the largest revenue share of 37.70% in 2019 and is expected to grow considerably over the forecast period.

Printers with drop on demand (DOD) inkjet technology are expected to emerge as the fastest-growing segment over the forecast period. The industrial end-user segment accounted for the largest revenue share of 24.12% in 2019 and is expected to grow with the highest growth rate of 6.9% over the forecast period.

The industrial segment comprises of packaging, publishing, and photography. The packaging segment accounted for the largest revenue share of 54.54% in 2019 and is anticipated to continue its dominance in the forthcoming years.