European SMEs Propel Growth in Printers Market Towards 2029
London, Thursday, 30 January 2025.
The printers market is set to expand by USD 11.25 billion from 2025 to 2029, driven by AI advancements and rising demand from European SMEs, enhancing print technologies.
Market Growth and Regional Dynamics
The global printers market is projected to achieve a CAGR of 3.5% through 2029 [1], with European SMEs emerging as key drivers of this expansion. While the Asia-Pacific region currently dominates with 52% market share [1], European businesses are increasingly adopting advanced printing solutions to meet evolving business requirements. This growth trajectory is particularly evident in the retransfer card printer segment, which is experiencing heightened demand from SMEs seeking flexible document solutions [2].
AI-Powered Innovation
Artificial Intelligence is revolutionizing the printing industry through enhanced automation and smart features. The market is witnessing a significant shift toward mobile printing and cloud-based computing solutions [1]. These technological advancements are making enterprise-grade printing capabilities more accessible to SMEs, particularly in the implementation of laser printing technologies that offer faster speeds and lower running costs [1].
Sustainability and Service Models
A notable trend emerging in the European market is the growing adoption of Printing as a Service (PaaS) business models [2]. This shift is particularly attractive to SMEs as it reduces initial investment costs while providing access to advanced printing capabilities. Environmental sustainability has become a crucial focus, with manufacturers addressing concerns about energy usage and working to reduce heavy metals and carbon emissions [1].
Future Outlook
The market’s evolution is being shaped by several key players, including HP Inc., Canon Inc., and Xerox Holdings Corp [1]. The integration of coding and marking equipment, projected to grow by USD 1.54 billion through 2029 [6], further demonstrates the expanding scope of printing solutions. For European SMEs, this represents an opportunity to leverage advanced printing technologies while maintaining cost efficiency and meeting increasingly stringent environmental standards [2].