While digital transformation continues to reshape our world, the global printer industry quietly grew to a staggering $78.5 billion market in 2023, proving that putting ink on paper remains a surprisingly dynamic and evolving business.
Key Takeaways
- In 2023, the global printer market revenue reached $78.5 billion, marking a 2.1% year-over-year growth driven by increased demand for inkjet printers in home offices
- The hardcopy peripherals market generated $56.4 billion in revenue in 2022, with laser printers accounting for 48% of total shipments
- Printer market in the US is projected to grow at a CAGR of 3.4% from 2023 to 2030, reaching $12.3 billion by 2030 due to SMB adoption
- Global printer market shipments totaled 84.6 million units in 2022, down 13.2% from 2021 due to supply chain issues
- Inkjet printer shipments worldwide reached 45.2 million units in 2023, accounting for 54% of total printer shipments
- Laser printer shipments declined to 38.1 million units in 2022, a 17.5% drop year-over-year per IDC data
- Global ink cartridge revenue reached $24.7 billion in 2023, with OEM cartridges comprising 72% of sales
- Toner cartridge market size was $12.8 billion in 2022, projected to grow to $16.4 billion by 2030 at 3.2% CAGR
- Printer ink revenue per shipped unit averaged $92 in 2023 for inkjets, per Context
- Inkjet printers accounted for 62% of global shipments in Q4 2023
- Pagewide inkjet technology shipments increased 22% YoY to 1.2 million units in 2023
- 60% of new laser printers in 2023 featured duplex printing as standard
- Asia-Pacific held 42% of global printer market revenue in 2023 at $33.1 billion
- North America printer shipments totaled 22.4 million units in 2023, down 1.2% YoY
- Enterprise segment accounted for 38% of global printer revenue in 2023
The global printer market is steadily growing as inkjet technology leads home and office adoption.
Consumables & Supplies
- Global ink cartridge revenue reached $24.7 billion in 2023, with OEM cartridges comprising 72% of sales
- Toner cartridge market size was $12.8 billion in 2022, projected to grow to $16.4 billion by 2030 at 3.2% CAGR
- Printer ink revenue per shipped unit averaged $92 in 2023 for inkjets, per Context
- Laser toner revenue generated $11.2 billion in EMEA in 2022
- Compatible ink cartridge market share reached 28% of total ink sales in 2023
- Annual pages printed per office printer averaged 12,500 in 2023, driving $45 billion in supplies spend
- OEM toner revenue was $8.9 billion in the US in 2023, down 2% due to MPS contracts
- Ink tank printer consumables revenue grew 12% to $3.4 billion in 2023, led by Asia
- Global printhead market for inkjets valued at $2.1 billion in 2023
- Remanufactured cartridge sales reached 1.2 billion units worldwide in 2022
- Color ink revenue per printer was $145 annually in home segment 2023
- Toner yield for standard cartridges averaged 2,500 pages in 2023 laser printers
- MPS consumables revenue totaled $32 billion globally in 2023, 71% of total print spend
- Third-party ink share in ink tanks hit 15% in 2023, up from 8% in 2020
- Paper consumption for printing was 390 million tons globally in 2023
- High-capacity toner cartridges grew 18% in shipments to 250 million units in 2023
- Inkjet photo paper revenue reached $1.8 billion in 2023
- Laser printer toner cost per page averaged 2.1 cents monochrome in 2023
- Global OEM ink sales volume was 4.2 billion cartridges in 2022
- Specialty media revenue for printers hit $4.5 billion in 2023
- Inkjet CISS (continuous ink supply) consumables market grew to $5.6 billion in 2023
Consumables & Supplies Interpretation
The printer industry's real business isn't in selling you a machine, but in creating a meticulously engineered, multi-billion dollar ecosystem of ink and toner where you're essentially leasing the hardware at a staggering markup just for the privilege of buying the overpriced consumables it exclusively demands.
Market Size & Revenue
- In 2023, the global printer market revenue reached $78.5 billion, marking a 2.1% year-over-year growth driven by increased demand for inkjet printers in home offices
- The hardcopy peripherals market generated $56.4 billion in revenue in 2022, with laser printers accounting for 48% of total shipments
- Printer market in the US is projected to grow at a CAGR of 3.4% from 2023 to 2030, reaching $12.3 billion by 2030 due to SMB adoption
- Asia-Pacific printer market revenue was $28.7 billion in 2023, representing 36% of global share with China leading at 22%
- Commercial printing market size stood at $834 billion globally in 2022, expected to reach $1,048 billion by 2032 at 2.3% CAGR
- Laser printer segment revenue hit $37.2 billion in 2023, up 1.8% from 2022 amid enterprise upgrades
- Inkjet printer market valued at $41.3 billion in 2023, projected to grow to $55.6 billion by 2030 at 4.4% CAGR
- 3D printer market revenue was $18.6 billion in 2023, with a forecasted CAGR of 23.1% to 2030 driven by industrial applications
- Managed print services market size reached $45.2 billion in 2023, growing at 10.2% CAGR through 2030
- Digital printing market generated $38.4 billion in 2023, expected to hit $52.1 billion by 2028 at 6.3% CAGR
Market Size & Revenue Interpretation
Despite our collective dream of a paperless world, the printer industry, from the humble inkjet to the industrious 3D, continues to mint money, proving that putting things in writing—or in plastic—remains a multi-billion dollar habit we just can't quit.
Regional & Segment Trends
- Asia-Pacific held 42% of global printer market revenue in 2023 at $33.1 billion
- North America printer shipments totaled 22.4 million units in 2023, down 1.2% YoY
- Enterprise segment accounted for 38% of global printer revenue in 2023
- EMEA printer market grew 0.7% to 18.9 million units shipped in 2023
- SMB printer adoption in Latin America rose 6% to 4.2 million units in 2023
- Home office printers represented 52% of US shipments in 2023
- China enterprise MFP market share was 45% of regional shipments in 2023
- India consumer printer segment grew 11% YoY shipments in 2023 to 5.8 million
- Production printing in Europe generated €15.2 billion revenue in 2023
- US SMB printer revenue hit $4.7 billion in 2023, up 3.5%
- Middle East & Africa printer shipments declined 5% to 3.1 million units in 2023
- Graphic arts segment used 28% of commercial printers in North America 2023
- Japan inkjet home printer market share was 62% of shipments in 2023
- Brazil office printer install base reached 8.5 million units by 2023
- Education sector printer spend was $2.8 billion globally in 2023
- Germany laser printer shipments grew 4% to 2.9 million in 2023
- Retail POS printers in APAC generated $1.4 billion revenue 2023
- Healthcare printing in US accounted for 12% of office printer volume 2023
- Australia consumer printer market declined 3% shipments to 1.2 million in 2023
- Government segment printer revenue worldwide was $6.5 billion in 2023
Regional & Segment Trends Interpretation
While Asia-Pacific counts its billions and North America tallies its units, the world’s printer market seems to have reached a mature détente where one region's slide is another's slight rise, and every enterprise, home office, and government department still has a page to print.
Shipments & Install Base
- Global printer market shipments totaled 84.6 million units in 2022, down 13.2% from 2021 due to supply chain issues
- Inkjet printer shipments worldwide reached 45.2 million units in 2023, accounting for 54% of total printer shipments
- Laser printer shipments declined to 38.1 million units in 2022, a 17.5% drop year-over-year per IDC data
- Installed base of printers globally exceeded 1.2 billion units in 2023, with 65% being inkjet models
- A3 printer shipments grew 5.4% YoY to 12.7 million units in 2023, led by enterprise segment
- US printer shipments fell 18% to 15.4 million units in 2022 amid remote work normalization
- China shipped 28.5 million printers in 2023, holding 34% of global shipment share
- Monochrome laser MFP shipments reached 22.3 million units worldwide in 2022, down 12%
- Home and SOHO printer install base grew to 850 million units globally by end of 2023
- Production print shipments increased 8.2% to 1.8 million units in 2023, per Keypoint Intelligence
- Enterprise printer installed base stood at 320 million units in EMEA in 2023
- Color laser printer shipments hit 15.6 million units globally in 2023, up 2.1% YoY
- 3D printer installed base surpassed 2.5 million units worldwide by 2023 end
- Brazil printer shipments declined 22% to 2.1 million units in 2022
- Office MFP shipments totaled 47.8 million units in 2023, flat YoY
- Residential inkjet printer shipments rose 4% to 32 million units in US 2023
- Global monochrome printer shipments were 28.4 million units in 2022, down 15%
- A4 laser printer shipments dominated with 65 million units shipped in 2023
- India printer install base reached 45 million units by 2023, growing 7% annually
- Production inkjet press shipments grew 15% to 450,000 units in 2023
Shipments & Install Base Interpretation
The global printer market reveals a fascinating paradox of resilience and transition, where the vast, stubbornly persistent installed base of over a billion units acts as a giant anchor, even as the tides of shipment decline, remote work, and a shifting mix—from declining lasers to growing production print—tug relentlessly at its chain.
Technology & Innovation
- Inkjet printers accounted for 62% of global shipments in Q4 2023
- Pagewide inkjet technology shipments increased 22% YoY to 1.2 million units in 2023
- 60% of new laser printers in 2023 featured duplex printing as standard
- Ink tank systems (CISS) captured 35% of inkjet market share in 2023, up from 28% in 2022
- 5% of enterprise MFPs shipped in 2023 supported A3 color scanning at 1200 dpi
- Laser printers with mobile print support reached 92% penetration in 2023 shipments
- 3D printing metal segment grew 28% in 2023 to $3.8 billion revenue
- Print speed in entry-level inkjets averaged 15 ppm color in 2023 models
- 45% of production printers in 2023 used UV ink technology
- Wi-Fi 6 enabled printers comprised 18% of shipments in 2023
- Duty cycle for mid-range MFPs averaged 50,000 pages monthly in 2023
- Nanography printing technology shipments doubled to 50,000 units in 2023
- 75% of new printers in 2023 had cloud printing integration like Google Cloud Print successor
- FDM 3D printers held 68% market share in desktop segment 2023
- Energy Star certified printers represented 88% of US shipments in 2023
- Touchscreen interfaces on printers reached 82% adoption in A4 MFPs 2023
- High-speed inkjet presses printed at 500 m/min average in 2023 models
- 22% of inkjets shipped in 2023 had auto document feeders for 50+ sheets
- SLA 3D printing resolution improved to 25 microns average in 2023 consumer models
- Secure print release features present in 95% of enterprise lasers 2023
Technology & Innovation Interpretation
While inkjets continue to dominate the global fleet, the real story of 2023 is a collective industry sprint toward efficiency, automation, and smarter, more sustainable printing, proving that even in a digital age, the humble page is getting a high-tech and conscientious makeover.
Sources & References
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