Increasing mobile workforce and on-the-go print requirements are expected to trigger the global portable printer market growth during 2016-2020 and if experts are to be believed, the market will have the growth momentum of over 17 % CAGR with thermal portable printer market alone is estimated to cross a whopping USD 725 million with a CAGR of20 per cent.
The research report titled, ‘Global Portable Printer Market 2016-2020’ by TECHNAVIO has categorized the global portable printer market into three major categories based on technology - Thermal, Inkjet and Impact.
Thermal portable printer
The report by Technavio said that the thermal portable printer market would be valued more than USD 725 million by 2020 with 20 per cent CAGR during the forecast period. Apart from being useful in field support and entertainment services, thermal printers are widely used in industrial applications in retail, transportation and logistics, healthcare and manufacturing.
Though thermal printers are expensive compared to impact and inkjet printers, they are preferred for its usage in wide range of retail applications. Thermal printers are used extensively for printing barcodes on retail products, labels apart from producing high quality images of company logos and graphics.
Sunil Kumar Singh, an expert analyst from Technavio, said: “Thermal printers can print faster and can be customized as per applications, such as tags, receipts or labels. Also, they are reliable and have a long battery life, which helps uninterrupted work flow anywhere even for 24 hours.”
Inkjet portable printer
Technavio research report further predicted that the inkjet portable printer market is likely to worth above USD 97 million by 2020 with a CAGR of 9 per cent growth. Inkjet printers are largely used by on-the-go marketing professionals who need high-quality prints for usages such as contract agreements. These printers are less in weight (less than 6 pounds) and have a good battery power backup, which makes them ideal for those who are working out of office.
The market has acknowledged two major variants as for producing high-quality documents and lab-quality photos - Epson piezoelectric technology and HP thermal inkjet technology. While thermal inkjet printers from HP uses thermal energy to heat ink and apply it on paper, Epson uses micro piezo inkjet technology to jet out ink out of the nozzle for perfect printing.
“Some of the most desirable products in the market are HP Officejet mobile, Epson WF and Canon SELPHY,” opines Sunil.
Impact portable printer
The report also suggested that the global impact portable printer market will grow at a CAGR of 7 per cent to reach USD 62 million by 2020, fueled by increased demand for multiple quality prints. These portable printers, such as dot matrix, unlike thermal prints, are durable and are ideal for printing invoices, draft copies and receipts.
Technavio’s research analysts took some of the top vendors in the global print market such as Brother Industries, Honeywell, Epson, Toshiba, Zebra Technologies and HP, as benchmarks to arrive at the report findings.