Elmhurst, IL—Research firm Technavio projects that the global MEMS inkjet heads market will post a compound annual growth rate of close to 2% during the forecast period of 2018–2022. Increased demand for multifunction printers (MFPs) is a key driver expected to positively impact market growth. In addition, this market will be spurred by the strengthened demand for digital printing. Moreover, photo book printing will be the fastest growing category.
An MFP incorporates the functionality of multiple devices, such as printers, copiers, fax machines and scanners, with additional features. These may include network document storage (with security) and authentication of a network user’s credentials. Also included are the ability to run custom software (via a software development kit). Other features are advanced network scan destinations (FTP, WebDAV, e-mail, SMB and NFS stores) and data encryption.
Moreover, these features all allow organizations to store and access documents on the network at reduced costs. They also help to generate a smaller carbon footprint by saving on electricity consumption.
Demand for Digital Printing
In the recent report, Technavio also highlights the growing demand for digital printing as one of the emerging trends to drive the global MEMS inkjet heads market. The research firm believes the replacement of traditional printing methods with digital printing has contributed to the MEMS inkjet heads market to a certain extent.
Unlike traditional printing, digital printing does not require replacement of printing plates. This results in quicker turnaround time and reduces the overall cost of printing. Digital printing also provides customers with more flexibility, greater inventory turnover and higher profitability, according to Technavio.
“In 2017, digital printing accounted for a 15% share of the total page output volume. This is expected to increase to over 40% by the end of the forecast period,” explained a senior analyst at Technavio for embedded systems research.
“The fastest growing application of digital printing during the forecast period will be photo book printing, which includes printing of memory books and calendars,” he added.
MEMS Inkjet Heads Market Segmentation
The market research report segments the global MEMS inkjet heads market. The segmentation is based on end-user (commercial and industrial, and consumer), technology (thermal inkjet heads and piezo inkjet heads) and key regions (the Americas, APAC and EMEA).
The commercial and industrial sector held close to a 67% share of the market in 2017. With 3D printing technology gaining traction, the demand for printers will be high from this sector, reports Technavio.
Moreover, in 2017, the global MEMS inkjet heads market was led by the Americas. This region accounted for more than 37% of the market share. The Americas was followed by APAC and EMEA.