Portable Printer Market Estimated To Witness High Growth Due To Increasing E-Commerce Sales And Growing Demand From Inventory Management
The Portable printer market is estimated to be valued at US$ 11.02 Bn in 2024 and exhibit a CAGR of 8.3% over the forecast period 2024-2031. Portable printers are gaining traction due to their compact size and wireless connectivity features. The e-commerce sector is experiencing robust growth worldwide, which is driving the need for portable printers that can print shipping labels and invoices on the go. Furthermore, portable printers are increasingly being used in inventory management and warehouse operations to print barcodes and labels, supporting efficient tracking of goods.
Market Dynamics:
The growth of the global portable printer market is propelled by increasing e-commerce sales and growing demand from the inventory management sector. E-commerce sales have skyrocketed in recent years due to the COVID-19 pandemic and rise of online shopping. Portable printers allow sellers and delivery agents to print important documents instantly while on the move. Meanwhile, portable printers are enhancing productivity in warehouses and distribution centers by enabling mobile printing of inventory-related labels and tags. Two key drivers of the global portable printer market are expanding e-commerce and optimizing inventory management processes using mobile technology.
Growth in Small and Medium Businesses Drives Demand for Portable Printers
The growth of small and medium businesses around the world has been a key driver of demand for portable printers. As SMBs operate with limited office space and resources, portable printers provide a convenient option to print documents on the go. Portable printers are lightweight and compact, allowing SMB employees to print receipts, invoices, contracts and other documents from client meetings or job sites without the need to return to a central office. This mobility and flexibility enhance productivity for SMBs.
Increasing Use of Mobile Devices Increases Need for Wireless Printing
Consumer adoption of smartphones and tablets has skyrocketed in recent years. As people increasingly conduct work and personal tasks from mobile devices, the need for wireless portable printers that can print from these devices has grown significantly. Portable printers that support wireless technologies like Bluetooth and WiFi allow users to instantly print documents, photos, boarding passes and other files from their mobile devices without needing a physical connection. This wireless connectivity makes portable printers highly useful for users who generate content on mobile platforms.
High initial Equipment Costs Deter Some Purchases
While portable printers offer clear mobility advantages over traditional desktop models, their initial purchase price is typically higher. For cost-conscious small businesses and individuals, the upfront investment required for a portable printer can be difficult to justify, particularly if printing needs are occasional. Since portable printers do not provide the same volume capabilities or longevity as desktop lasers, some buyers are deterred by their higher unit costs. Printer manufacturers have worked to reduce prices but the cost factor still deters some potential customers.
Concerns Over Ink Cartridge Costs and Replacement
Another market restraint is the relatively high ongoing costs of ink cartridges for portable printers. While inkjet models provide full color printing capabilities, their cartridges are expensive to replace when empty. Some buyers are hesitant to adopt portable printers due to worries over recurring ink expenses down the line. There are also inconveniences with keeping multiple cartridges in stock and replacing them when low. Unless portable printers can address concerns over long-term supply and replacement costs, it may limit expansion into some business and consumer segments.
Growing E-Commerce Drives Demand for Mobile Receipt Printing
One major opportunity for the portable printer market is the explosive growth of e-commerce worldwide. As more goods are purchased online, there is increased need for printing receipts, packing slips, delivery notes and labels during various stages of fulfillment. Portable printers are ideally suited for use in warehouses, distribution centers and retail locations to print documents related to online orders. Their portability allows them to move flexibly between areas. E-commerce growth opens up substantial new demand possibilities for portable printing solutions.
Increasing Popularity of Remote Work Drives Uptake
The pandemic has accelerated trends of remote and hybrid work arrangements globally. As more knowledge workers conduct jobs away from centralized offices, there is rising demand for compact printing options to use from home offices and other flexible locations. Portable printers enable remote employees to print necessary paperwork, reports, proposals and presentations without returning to the main office. Their popularity is rising with the growth of remote and distributed work models. Portable printing meets an important need for professionals who split time between locations.
In conclusion, while high costs and ink concerns pose restraints, growing trends like expansion of SMBs, e-commerce and remote work are driving significant new opportunities for portable printers. Wireless connectivity with mobile devices also increases the need for these mobile printing solutions. Portable printer manufacturers who can address pricing and ongoing supply issues stand to benefit from increases in each of these important market drivers in coming years.
Link: https://www.coherentmarketinsights.com/market-insight/portable-printer-market-809
Key Developments:
- In August 2022, Brother Mobile Solutions, a subsidiary of Brother International Corporation, launched the PocketJet 8 series - a new generation of full-page PocketJet portable printers. The PocketJet 8 series features enhancements in print speed and quality, USB-C connectivity, and a broader range of compatible media, including thicker paper and labels.
- In February 2022, Canon introduced the MAXIFY GX5070 printer, designed to enhance productivity for home and small businesses. This launch aimed to expand Canon's inkjet product range.
- In December 2021, HP introduced the new HP DeskJet Ink Advantage Ultra 4826 printer in India. This launch aimed to strengthen HP's portfolio of cost-effective home printer offerings.
- In November 2021, Canon India introduced the new PIXMA E4570 inkjet multifunction printer. PIXMA E4570 is a compact wireless all-in-one printer designed to cater to the needs of students, remote workers, and small home-based businesses.
Key Players:
Bixolon Co. Ltd, Brother Industries Ltd., Canon Inc., Citizen Systems Japan Co., Epson, Fujitsu, Hewlett Packard Enterprise Development LP, Honeywell International Inc., Oki Data Americas, Inc., Polaroid Corporation, Printek LLC, Sato Holdings Corporation, Seiko Epson, Star Micronics Co., Ltd., Toshiba Tec Corporation, and ZEBRA Technologies
