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The laser printer market is estimated to grow at a CAGR of 5.67% between 2022 and 2027. The size of the market is forecast to increase by USD 4,016.55 million. The growth of the market depends on several factors, including the increasing popularity of MFPs, the growing demand for laser printers in developing countries, and the increasing need for combining mobility and document solutions.
This report extensively covers market segmentation by product (laser MFPs and laser SFPs), type (helium-neon lasers and semiconductor lasers), and geography (APAC, Europe, North America, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The reports categorize the global laser printer market as a part of technology hardware, storage and peripherals. The global electronics market, the parent market, includes manufacturers of communications equipment, technology hardware storage and peripherals, electronic equipment and instruments, electronic components, consumer electronics, and industrial electronics products, as well as electronic manufacturing services. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The growing demand for laser printers in developing countries is notably driving the market growth, although factors such as the adoption of cloud data storage may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Laser Printer Market Driver
The growing demand for laser printers in developing countries is notably driving the laser printer market growth. Emerging economies are expected to be the major markets for laser printers. Rapid industrialization, the development of IT infrastructure, the favourable market for SMEs, the increasing number of SEZs, and growing disposable incomes are some of the factors driving the market in these countries. For instance, India has seen a rapid development of start-ups in the last couple of years. This will be associated with the increasing requirement for office space and office equipment like laser printers for documentation and business purposes.
As laser printers provide enhanced quality and high-speed printing at low costs, their demand is increasing in office spaces. With the increased commercial activity in developing economies, the demand for office space will rise, which, in turn, will drive the need for laser printers. Additionally, vendors are investing in the launch of new products in these regions, owing to the lucrative opportunities provided by developing countries. Such new launches by key vendors in developing countries will drive the demand for laser printers during the forecast period.
Key Laser Printer Market Trend
The increasing demand for compact laser printers is the primary trend in the laser printer market. The growth of compact laser printers is driven by the increasing demand for these printers from small workgroups, homes, and offices. Such printers are preferred by professionals who work at home and increasingly seek lower operating costs without having to compromise on the quality and performance of the printer.
Since small workgroups, homes, and offices face space constraints, they tend to focus on products that occupy less space. Such customers prefer compact laser printers that can deliver good print quality and are equipped with mobility features for easy printing using smartphones. Thus, vendors in the global printer market are introducing products that are compact, deliver high print quality and print speeds, and are equipped with mobility features.
Key Laser Printer Market Challenge
The adoption of cloud data storage is the major challenge impeding the laser printer market growth. With the development of cloud computing, companies are increasingly adopting cloud data storage architectures. Cloud enables the online storage of data on remote servers. Companies can increasingly deploy cloud-based data storage solutions, such as Google Drive and Dropbox, that have remote access features for documents. Printers are required to print and disburse content in the hardcopy format. The customer information on the Salesforce customer relationship management (CRM) cloud can be accessed using smartphones or tablets. This information can also be shared with authorized parties.
Companies are increasingly adopting the cloud-based electronic document management system (EDMS), which is a software tool used for organizing and storing various kinds of documents in digital formats. EDMS offers various features, such as cloud storage, mobile access, optical character recognition (OCR) features for easy management, and the upload and retrieval of documents. These cloud services enable faster and easy uploading, retrieval, and sharing of documents, which reduces the requirement of printing applications to print, store, and share documents in the hardcopy format. Therefore, the adoption of cloud-based storage will pose a challenge to the global laser printer market.
Key Laser Printer Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Laser Printer Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Dell Technologies Inc. - The company operates under two segments, which are products and services, with a high focus on products. The company, under this segment, offers products such as laptops, mobiles, and other accessories. The company's key offerings include laser printers such as 1130 and 2230 printers.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
Based on product, the market is segmented into laser MFPs and laser SFPs. The market share growth of the laser MFPs segment will be significant during the forecast period. MFPs provide comprehensive document management and business communication solution with added functionalities of copying, faxing, and scanning along with printing. Thus, enterprises and medium-sized business establishments use MFPs.
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The laser MFPs segment was valued at USD 9,747.21 million in 2017 and continued to grow until 2021. Office spaces are growing worldwide Hence, companies will invest in procuring devices and technologies to aid in their business and documentation processes. Thus, there will be an increasing need for equipment to manage documentation in companies. Thus, corporates and medium-sized enterprises are expected to adopt multifunctional laser printers increasingly.
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APAC will account for 40% of the global market share by 2023. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The laser printer market in APAC is expected to grow during the forecast period. One of the major reasons for the dominance of APAC is the presence of major laser printer manufacturers in the region, such as Brother Industries, Canon, etc. These vendors have a strong presence in major geographies, including China, India, and Japan. The intense competition in the market has resulted in a decline in the ASP of laser printers in APAC, which is positively driving market growth.
Developing countries in the region, such as China, India, Indonesia, the Philippines, and Vietnam, are attracting several venture capitalists to invest in start-ups in the region driving the growth of SMEs in the region. The growing investments in the development of IT and internet infrastructure are driving the growth of SMEs, which include banking, IT, and real estate. In addition, the Internet penetration in the region is low compared with the Americas and EMEA. Thus, companies in the region highly depend on print media more than digital media. Further, with an increase in business centers, there will be a growing requirement for equipment for office documentation. Laser printers are important equipment as they facilitate the printing of documents (SFPs) and provide multiple functions of copying, scanning, and faxing along with printing (MFPs). Therefore the demand for laser printers is estimated to increase in APAC.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by type, product, distribution channel, and region.
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Laser Printer Market Scope |
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Report Coverage |
Details |
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Page number |
163 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.67% |
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Market growth 2023-2027 |
USD 4,016.55 million |
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Market structure |
Fragmented |
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YoY growth (%) |
4.86 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 40% |
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Key countries |
US, China, Japan, India, and Germany |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Brother Enterprises Holding Co. Ltd. , Canon Inc., CONTROL PRINT Ltd., Dell Technologies Inc., Eastman Kodak Co., Fujitsu Ltd., Guangzhou Labsim Biotech Co. Ltd., HP Development Co. LP, Konica Minolta Inc., Kyocera Corp., Lexmark International Inc., Monotech Systems Ltd., Oki Electric Industry Co. Ltd., Panasonic Holdings Corp., Ricoh Co. Ltd., Samsung Electronics Co. Ltd., Seiko Epson Corp., Sharp Corp., Xerox Holdings Corp., and Zhuhai Pantum Electronics Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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