Portland, OR -- (SBWIRE) -- 05/29/2018 -- According to a new report by Allied Market Research, titled, Portable Printer Market by Technology (Inkjet, Thermal, and Impact) and Industry Verticals (Healthcare, Retail, Telecom, Transportation & Logistics, and Others): Global Opportunities Analysis and Industry Forecast, 2017-2023, the portable printer market was valued at $844.19 million in 2016, and is projected to reach at $1,643.40 million by 2023, growing at a CAGR of 10.2% from 2017 to 2023.

A printer is a peripheral device that accepts input in the form of text or graphics through a digitally connected device and generates printed document for the user. Printers vary in shape, size, speed, and cost. The portable printer is a kind of handy printer that can be easily moved and provides mobility to the user.

In 2016, thermal technology segment dominated the portable printer market in technology type segment, in terms of revenue. Moreover, transportation & logistics segment witnessed significant growth, due to increase in demand for mobility and on-demand printing facility.

Asia-Pacific was the highest revenue contributor to the portable printer market in 2016, accounting for around 35.23% share, owing to surge in demand for mobility for printing across industry verticals and rapid digitization has contributed to the growth of the portable printer market in this region. Furthermore, increase in adoption of BYOD policy across industry verticals, drives the market across the country.

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Compact size & on-demand printing capacity, growth in internet penetration & rise in adoption of smart devices, proliferation of online businesses such as ecommerce, rise in mobile workforce management among industries, and increase in adoption of BYOD policy drive the growth of the market. However, rise in investment on digitization across the globe is expected to restrict the market growth. Conversely, R&D on better battery runtime time and availability of more number of pages is expected to provide potential growth opportunities for the market.

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The report features a competitive scenario of the portable printer market and provides a comprehensive analysis of key growth strategies adopted by major players. The key players profiled in the study are Bixolon Co. Ltd, Brother Industries Ltd., Canon Inc., Fujitsu, Hewlett Packard Enterprise Development LP, Honeywell International Inc., Polaroid Corporation, Printek LLC, Toshiba Tec Corporation, and ZEBRA Technologies. These players have adopted competitive strategies such as innovation, new product development, and market expansion to boost the growth of the market.

Key Findings of the Portable Printer Market:

-The thermal technology printer market segment accounted for the highest share of the global portable printer market in 2016, growing at a CAGR of 10.7% from 2017 to 2023.
-Transportation & logistics segment generated the highest revenue, accounting for $310.78 million in 2016.
-The telecom segment across the industry vertical is expected to dominate the market, in terms of market share, during the forecast period.