European print market rebounds with AI & cloud solutions

A recent report by the global IT market intelligence firm CONTEXT outlines signs of recovery in the print hardware market in Europe, particularly in business-focused segments.

Multifunction printers (MFPs), especially mid-range and high-end inkjet models, have played a substantial role in this resurgence over the past year. Antonio Talia, Chief Analyst at CONTEXT, explained, "As businesses resume major projects and printer upgrades, we're seeing increased demand for high-end devices that support productivity and cost efficiency. The shift towards refillable ink bottles reflects a growing focus on reducing long-term costs, which resonates strongly in today's economic climate."

While the market for consumables such as traditional ink cartridges and toners has declined, refillable ink bottles are becoming popular due to their cost-effectiveness and sustainability benefits. CONTEXT predicts that this trend will persist, projecting a boost for print consumables in Q4 2024, influenced by key retail events such as Black Friday and the holiday season.

Economic improvement is expected to fuel the print hardware market's rebound, with consumer and business segments anticipated to grow. This growth may be propelled further by promotional activities, deferred purchasing decisions, and advanced technologies like AI-powered features and improved laser technology.

AI is crucial in transforming the print industry, particularly commercial and production printing. As Talia noted, "AI is emerging as a transformative force in the print industry, especially in commercial and production printing. Large-scale image generation is helping to reduce production costs, while advancements in business automation, device optimisation, and print security offer promising opportunities. However, challenges such as high integration costs, training requirements, and data security concerns remain barriers to widespread adoption."

The report highlights that small and medium-sized businesses (SMBs) are increasingly interested in cloud print management solutions. Despite challenges related to cost and data protection, the rising awareness of these solutions and industry initiatives like Microsoft's Universal Print are expected to bolster adoption in the coming years.

Antonio Talia remarked, "The print market is at a pivotal moment, where innovation and sustainability are aligning to shape its future. With AI-driven capabilities and cloud-based solutions gaining traction, businesses are exploring new ways to optimise their printing infrastructure and enhance security, ensuring long-term value in a competitive landscape."

The report underscores the evolving dynamics of the European print hardware market. Technological advancements and a growing emphasis on cost-efficiency and sustainability drive this market. As businesses adapt to new printing solutions and market conditions, the sector is poised for continued recovery and transformation.