Allied Market Research recently published a report, titled, “Zink Printing Market By Component (Zink-Based Paper and Zink-Based Printer), Functionality (Compact Photo Printer and Camera Photo Printer), Connectivity (Bluetooth, Near-Field Communication, and Others), and Application (Home and Commercial): Global Opportunity Analysis and Industry Forecast, 2021–2030”. As per the report, the global zink printing industry was pegged at $745.2 million in 2020, and is estimated to generate $1.01 billion by 2030, growing at a CAGR of 3.2% from 2021 to 2030.
Major determinants of the market growth
Rise in use of mobile printers based on wireless technologies, surge in demand for sustainable printing, and increase in need for high-speed, cost-effective, and high-quality printing solution have boosted the growth of the global zink printing market. However, increase in trend of online and paperless e-transactions hinders the market growth. On the contrary, high demand from Asia-Pacific is expected to open new opportunities for the market players in the future.
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Covid-19 scenario:
- The pandemic disrupted the day-by-day activities and created uncertainty in the stock market. This resulted in falling business confidence, disruption of the supply chain, and increased panic among customers.
- The country-wide lockdown resulted in shutdown of manufacturing units and operations.
- The pandemic negatively affected the electronics sector as production facilities have stalled. But the demand for electronics and semiconductor products in these industries has increased during the pandemic, which will positively affect the market growth.
The Zink-based printer segment to portray the highest CAGR through 2028
By component, the Zink-based printer segment would register the highest CAGR of 4.2% during the forecast period, due to enhanced security offered by Zink printers and its user-friendly interface. However, the Zink-based paper segment held the largest share in 2020, accounting for nearly two-thirds of the global zink printing market, as it is long-lasting, water-resistant, tear-resistant, and smudge-resistant.
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The Bluetooth segment held the lion’s share
By connectivity, the Bluetooth segment dominated the market in terms of revenue in 2020, contributing to more than two-fifths of the global zink printing market, due to rise in demand for portable, pocket-friendly printers and on-demand printing. However, the NFC segment is projected to register the highest CAGR of 4.6% from 2021 to 2030, as it makes printing documents faster and easier than other types of connectivity.
North America dominated the market in terms of revenue
By region, the global zink printing market across North America held the largest share in 2020, contributing to more than one-third of the market, due to presence of prominent market players in the region. However, the market across Asia-Pacific is anticipated to portray the highest CAGR of 5.6% during the forecast period, owing to benefits such as compact size and strong durability compared to other printers along with demand for fast, eco-friendly, and reliable printing device and increase in penetration wireless technologies in the region.
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Key market players
- Brother Industries Ltd.
- Dell
- Canon
- HP Inc.
- Eastman Kodak Company
- Lifeprint
- LG Electronics
- PRYNT
- Polaroid
- ZINK Holdings LLC
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