The increasing consumer demand for on-the-go, tangible photo printing solutions and the emergence of cost-effective & efficient printing technologies are projected to drive the global smartphone photo printers market’s growth during the forecast period. The North America region is predicted to witness prominent growth by 2032.
WILMINGTON, Delaware, June 5, 2024 /PRNewswire/ — Allied Market Research has recently published a report, titled, “Smartphone Photo Printers Market Size, Share, Competitive Landscape and Trend Analysis Report by Application, by Product, by Distribution Channel, by Connectivity, by Ink Usage : Global Opportunity Analysis and Industry Forecast, 2023-2032.” According to the report, The global smartphone photo printers market was valued at $18.8 billion in 2022, and is projected to reach $37 billion by 2032, growing at a CAGR of 7.1% from 2023 to 2032.
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Prime Determinants of Growth
The rising consumer demand for on-the-go, tangible photo printing solutions, growing popularity of social media platforms, and the increasing demand for mobile printers in warehouse operations are the factors expected to drive the growth of the global smartphone photo printers market in the forecast period from 2023 to 2032. However, the high cost of ink cartridges and the rising dominance of digital photo sharing may hamper the market growth in the coming future. On the contrary, the advancements in cost-effective & efficient printing technologies and the growing demand for advanced tablets & smartphones are expected to offer remunerative opportunities for the expansion of the smartphone photo printers market during the forecast period.
Report Coverage & Details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$18.8 billion |
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Market Size in 2032 |
$37 billion |
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CAGR |
7.1 % |
|
No. of Pages in Report |
310 |
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Segments covered |
Ink Usage, Product, Application, Distribution Channel, Connectivity, and Region |
|
Drivers |
Rising consumer demand for on-the-go, tangible photo printing solutions Increasing demand for mobile printers in warehouse operations Growing popularity of social networking platforms |
|
Opportunities |
Emergence of cost-effective & efficient printing technologies Robust demand for advanced tablets and smartphones |
|
Restraints |
High costs of ink cartridges |
Ink Usage: Ink-based Sub-segment to Witness Significant Growth by 2032
The ink-based sub-segment accounted for the largest global smartphone photo printers market share of 62.3% in 2022 and is expected to hold major share by 2032. This is mainly because innovations in inkjet technology have significantly contributed to the growth by enabling high-quality prints with vivid colors and intricate details, meeting the demands of consumers for superior print quality. Besides, ink-based printers offer versatility in photo paper compatibility, providing users with a broader range of options and enhancing their appeal. Further, the cost-effectiveness of ink-based printing makes these printers accessible to a wider consumer base, ensuring sustained market growth.
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Product: Compact Sub-segment to be Most Dominant During the Forecast Period
The compact sub-segment accounted for the largest market share of 50.1% in 2022 and is expected to hold its dominant position by 2032. This sub-segment is predicted to grow at the highest CAGR of 8.2% during the forecast period. This is mainly owing to the increasing popularity of smartphone photography and the rising demand for rapid smartphone printing solutions. Besides, technological advancements have resulted in the creation of pocket-sized photo printers that are lightweight, tiny, and of excellent quality. Moreover, the usage of sustainable and eco-friendly materials, as well as the incorporation of AR technologies is driving the sub-segment’s growth.
Application: Individual Sub-segment Dominated in 2022
The individual sub-segment accounted for the largest global smartphone photo printers market share of 56.2% in 2022 and is expected to witness significant growth during the forecast period. One of the primary reasons for this dominance is the strong desire among individuals for personalized and tangible memories, making compact printers appealing for on-the-go photo prints. In addition, the convenience of transforming digital images into physical prints resonates strongly with technology users seeking immediate ways to share and preserve their digital photos, driving the demand within the individual sub-segment.
Distribution Channel: Offline Sub-segment to Hold Maximum Share by 2032
The offline sub-segment accounted for the largest market share of 60.2% in 2022 and is expected to continue to dominate in terms of market share during the forecast period. The offline distribution channel plays a pivotal role in driving market growth by offering a tangible and attractive shopping experience, allowing customers to interact hands-on with products. In addition, the offline sub-segment addresses the preferences of customers who seek a personalized and direct purchasing approach, contributing significantly to market growth and highlighting the enduring significance of physical retail presence in the smartphone photo printer industry.
Connectivity: Wi-Fi Sub-segment to Flourish Immensely During the Forecast Period
The Wi-Fi sub-segment accounted for the largest market share of 43.1% in 2022 and grow at the highest CAGR of 8.3% during the forecast period. This dominance is mainly because Wi-Fi enabled printers offer unparalleled convenience by providing wireless connectivity, eliminating the need for cables. Besides, seamless communication with smartphones and tablets enhances the on-the-go printing experience, catering to users’ increasing demand for hassle-free solutions. Furthermore, the Wi-Fi’s adaptability across various devices ensures a broader user base can effortlessly print photos directly from their mobile devices, driving market accessibility and expansion.
Region: North America Market to Hold Major Market Share by 2032
The smartphone photo printers market in the North America region accounted for the largest share of 40.6% in 2022 and is predicted to continue to hold major market share by 2032. This growth is mainly owing to the region’s high smartphone penetration rate and tech-savvy consumer base, which boosts the demand for on-the-go photo printing solutions. In addition, advancements in printing technologies and the integration of wireless connectivity cater to the preferences of North American consumers, making smartphone photo printers increasingly popular.
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Leading Players in the Smartphone Photo Printers Market:
- LG Electronics
- FUJIFILM Holdings Corporation
- Polaroid Corporation
- Seiko Epson Corporation
- Eastman Kodak Company
- Brother International Corporation
- Sony Corporation
- Canon Inc.
- The Hewlett-Packard Company
- HiTi Digital, Inc.
The report provides a detailed analysis of the key players of the global smartphone photo printers market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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