Analyst firm IDC reports that the printer industry has been suffering as a result of the Pandemic. The firm suggested predicted “page volume will fall 13.7percent in 2020, from 3.2 trillion pages in 2019 to 2.8 trillion pages in 2020.” The impact will be lasting: between 2015 and 2019 compound annual growth rate for pages printed was -1.2 percent. From 2020 to 2024 that will hit -4.8 percent.
"The dramatic and sudden transition to work from home in many of the world's largest economies had a direct impact on office device print volumes," said Ilona Stankeova, IDC Europe’s senior research director for Imaging Devices and Document Solutions. "More than six million pages were printed every minute globally in 2019. This amount covers the area of 54 football pitches. COVID-19 is expected to remove print volume that would fill the area of seven football fields every minute in 2020."
"Multifunction printers (MFPs) and increasing adoption of digitization efforts on a global scale are pushing for further maturation of the single-function printer (SFP) market. The trade war between China and the United States and the economic downturn in Western Europe are also pushing down shipment expectations. We still expect the market to be sustainable through the forecast period as SFPs still provide a lower-cost option for customers interested in printing." — Max Pepper, research analyst, IDC's Imaging, Printing, and Document Solutions
The IDC study covers worldwide printer market opportunities and analyzes issues, trends, and product advances. It contains 2013–2018 data showing actual unit shipments, value of shipments (end-user spending), and average selling value. 2019–2023 data is projected.
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