Global Portable Printer Market Is Estimated To Witness High Growth Owing To Rising Demand in Retail and Transportation Sector
The Global Portable Printer Market is estimated to be valued at US$ 464.7 Million In 2016 and is expected to exhibit a CAGR of 7.7% over the forecast period 2017-2025, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Portable printers are designed to be compact and easy to carry, making them ideal for on-the-go printing needs. They find extensive applications in industries such as retail, transportation, logistics, and healthcare. These printers offer convenience and efficiency, enabling users to quickly print documents, labels, tickets, and receipts wherever they are. The increasing adoption of portable printers in the retail sector for printing barcode labels and receipts, as well as in the transportation sector for ticketing and passenger information, is driving the growth of the market.
Market Dynamics:
The Portable Printer Market is driven by two main factors - the growing demand for on-the-go printing solutions in the retail and transportation sectors. In the retail sector, portable printers are widely used for printing barcode labels and receipts, improving inventory management and customer service. In the transportation sector, portable printers are used for ticketing and printing passenger information, enhancing operational efficiency and customer experience. Additionally, advancements in wireless connectivity technologies and the increasing use of smartphones and tablets for printing are further fueling the market growth. These factors are expected to drive the market during the forecast period.
SWOT Analysis:
Strength:
The portable printer market has experienced strong growth due to its convenience and portability. These printers are lightweight and compact, making them suitable for individuals who frequently travel or work in remote locations. Additionally, advancements in wireless technology have enabled seamless connectivity, further enhancing their appeal.
Weakness:
One weakness of portable printers is their limited printing capabilities. Compared to traditional printers, they typically have slower printing speeds and lower print quality. Furthermore, their small size often means they have a limited paper capacity, requiring frequent paper refills.
Opportunity:
The growing trend of mobile workforce and increasing adoption of remote working arrangements present significant opportunities for the portable printer market. As more employees work from locations outside the office, the demand for portable printing solutions will rise. Additionally, the increasing popularity of mobile devices such as smartphones and tablets provides a potential market for portable printers that can easily connect and print from these devices.
Threats:
The rising popularity of digital documents and the push towards a paperless society pose a threat to the portable printer market. As more individuals and businesses rely on digital storage and sharing, the need for physical printouts may decrease. Additionally, competition from other printing technologies such as mobile printers may impact the demand for portable printers.
Key Takeaways:
The global portable printer market is expected to witness high growth, exhibiting a CAGR of 7.7% over the forecast period. This growth can be attributed to the increasing trend of remote working and the rise of mobile devices.
In terms of regional analysis, North America is the fastest growing and dominating region in the portable printer market. The region has a high adoption rate of remote working and a strong presence of tech-savvy individuals who value portable printing solutions.
Key players operating in the portable printer market include Bixolon, Canon Inc., Brother International Corporation, Honeywell International Inc., Fujitsu Isotec Limited, Seiko Epson Corporation, Oki Printing Solutions, Toshiba Tec Corporation, Star Micronics Co., Ltd., and Zebra Technologies Corporation. These companies play a significant role in driving innovation and meeting the demands of the market.
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