Like all other markets in the US, the printer manufacturing market has seen its own version of decline in relation to the global economic meltdown of 2008. As markets from all over the world crashed and experienced significant decline, printer manufacturers from all over the world had to make adjustments to make sure that they do not crash as much as their other counterparts.
The Printer Market in 2010
The printer market in the US, despite the decline it has experienced in late 2008 and 2009, has rebounded a little bit together with the global economic recovery. In the first 6 months of 2010, total sales for laser printers in the country shot up to almost USD490 million. Inkjet printers on the other hand, also experienced an increase in sales amounting to almost 28% for the first half of 2010 as per Gartner, Inc reports.
To differentiate the two, inkjet printers have a different technology used in printing compared to a laser printing. For people or groups who print a lot of text heavy documents, a laser printer may be the better option as it can print faster and is cheaper to print documents with it. Inkjet printers, on the other hand, are perfect for those who use pictures with their documents.
Printers are mainly imported in the US with several countries amassing a large pile of the printer market share in the country. China, Japan and Malaysia are the country’s biggest supplier of printers in 2010 with China almost tripling the amount of printer it sold in the United States in the data released by Gartner Inc.
On the export side, Canada, Brazil and Peru are the biggest consumer of US-made inkjet printers amounting to almost USD70 million. Comparing the two numbers (USD490 Million v. USD70 Million) though, we can conclude that more printers (laser or inkjet) are being imported to the US as opposed to the printers being exported out.
Looking ahead in 2011
Though many will still dispute the argument of whether the recession is really over, the numbers and projections for a lot of US and overseas printer companies have looked promising so far. Most of them see an increase in printer sales in 2011.
Companies like Konika Minolta, Eastman Kodak, Lexmark, Fuji Xerox and HP have all projected an increase in digital printer sales over the next year. While these press release figures still remain to be determined, many printer manufacturers have had a good start to 2011 by posting good numbers during the last quarter of 2010.
If the trend in 2010 will continue, then US-based companies and foreign companies that manufacture digital printers should be in for a great year. With the prices of such products going down almost every release, many consumers today will be more encouraged to purchase one of these printers. These companies are continuously looking for new ways to entice customers while improving their products and driving down their costs.
With the global economy experiencing an uphill albeit very slow recovery, businesses must find ingenious ways to get their customers attention and offer products that are functional and affordable at the same time.
This Article is written by John C Arkin.
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