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The laser printer market size is estimated to increase by USD 4.02 billion at a CAGR of 5.67% between 2022 and 2027. The market is experiencing significant growth, driven by several key factors. The increasing preference for Multi-Function Printers (MFPs) that offer multiple functionalities in one device is a major catalyst. Additionally, the expanding demand for printing solutions in developing countries is fueling market expansion. Moreover, the need for integrating mobility and document solutions is becoming increasingly important in today's digital age. These trends are expected to continue, ensuring the market's continued growth and development.
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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 9.75 billion in 2018 and continued to grow until 2022. 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 s increasingly. Hence, such factors are fuelling the growth of this segment during the forecast period.
The market is characterized by cutting-edge printing technology and a wide array of features designed to meet diverse consumer needs. Laser printers excel in efficiency, offering fast printing speeds and high-resolution outputs suitable for both monochrome and color printing. Connectivity options include wireless and cloud printing capabilities, ensuring seamless integration with modern devices and workflows. The market landscape depends on Print Management, Network Integration, Remote Printing, Text Rendering, and Page Description Language Multifunctionality. is a key trend, integrating printing, scanning, copying, and faxing functions into compact designs ideal for home use and office environments. Printers boast energy-efficient operations and environmental friendliness, with features like duplex printing to reduce paper waste and lower printing costs. User-friendly interfaces, touchscreen displays, and intuitive software compatibility enhance usability, supported by robust security features to protect sensitive documents. Brands prioritize durability and provide extensive warranty coverage, ensuring reliability with low consumables costs and easy maintenance. Our researchers analyzed the data with 2023 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.
The growing demand in developing countries is notably driving market growth. Emerging economies are expected to be the major markets for s. 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 s for documentation and business purposes.
As these 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 s. Additionally, companies 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 companies in developing countries will drive the demand during the forecast period.
The increasing demand for compact laser printer is the primary trend in the market. The growth 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 those that can deliver good print quality and are equipped with mobility features for easy printing using smartphones. Thus, companiess in the global printer market are introducing compact products, deliver high print quality and print speeds, and are equipped with mobility features. Hence, such factors are driving the market during the forecast period.
The adoption of cloud data storage is the major challenge impeding the 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 market during the forecast period.
Key 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 Market Customer Landscape
Companies 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 offers products such as laptops, mobiles, and other accessories. The company's key offerings include printers such as 1130 and 2230 printers.
The market research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companiess 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 companiess as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companiess as dominant, leading, strong, tentative, and weak.
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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 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 manufacturers in the region, such as Brother Industries, Canon, etc. These companies 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 s 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. s 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 s is estimated to increase in APAC.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments
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Inkjet printers may offer competition, but laser printers excel in delivering high-quality prints with precision and speed. The use of toner powder and toner cartridges ensures consistent print rates and cost per page advantages, making them ideal for both personal and office use as well as high-volume printing in medium- and small-sized businesses. The market landscape depends on the Page Description Language, Printer Language, Printer Control Panel, Printer Memory, Printing Protocol, Print Job Management, Printing Application, Printer Driver, Printer Compatibility, Printer Maintenance, Printer Troubleshooting, Printer Setup, Printer Configuration, Printer Installation, Printer Calibration, Toner Cartridge, Paper Handling, Resolution, Printing Speed, Monochrome Printing, Printer Firmware, Printer Drivers. The textile and packaging industries rely on laser printers for their end-use sectors, benefiting from the high-quality graphics and precise text reproduction they offer. Photographers and businesses requiring colour prints appreciate laser printers' ability to produce vibrant images and accurate colours.
Laser printers operate by using semiconductor diode lasers to transfer toner, a dry plastic powder containing carbon black and colouring agents, onto paper. The market landscape depends on the Duty Cycle, Operating System Compatibility, Mobile Printing, Noise Level, User-Friendly Features, Consumables Cost, Replacement Parts, Printing Media Compatibility, Automatic Document Feeder, Touchscreen Display, Print Server, Print Language, Print Driver, Image Processing, Graphics Rendering. This method ensures quick drying without the risk of toners drying out or evaporating, providing consistent results with minimal maintenance. Despite concerns about ozone gas emissions and their potential impact on human health, laser printers remain popular due to their superior print quality and efficiency. With features like the ability to print two pages at once and support for colour toner cartridges, laser printers offer unmatched versatility for a wide range of printing needs.
The market is currently experiencing significant growth due to urbanization and rising demand for efficient printing solutions in commercial activities. Compact laser printers are increasingly popular among organizations seeking improved quality and minimized costs. The market landscape depends on letter printing, semiconductor laser diodes, telecommunications industry, light sources, green and sustainable printers, touchscreen printers, cloud-based printers, personalized printer methods, wireless laser printers, laser beam. In particular, single-function printers dominate the multi-function segment, contributing to the largest market revenue, especially appealing to budget-conscious enterprises. Semiconductor lasers play a crucial role in this market, offering cost-efficient, small-sized lasers that deliver high-quality printouts with crisp text and consistent black tones. They excel in tasks such as letter and report printing, desktop publishing, and supporting the telecommunication industry through fiber optic transmission. These lasers are valued for their straightness, small emission spot size, monochromaticity, high light density, coherence, and micro-economic factors. The printer industry caters extensively to small and medium businesses, offering green and sustainable options using recycled materials. Modern features like touchscreen interfaces, cloud-based operations, and wireless connectivity (including IoT and Wi-Fi) are becoming standard. Monochrome laser printers, with their ability to print on transparencies, adhesive labels, and lightweight cards, are popular choices. Advanced models include automatic duplex printing capabilities, digital laser media support, and touchscreen panels with networking capabilities, leveraging cloud technology to meet diverse industry needs from IT/ITeS to pharmaceuticals, entertainment, law firms, auto shops, and healthcare practices for printing invoices, contracts, warranties, and financial documents.
Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.67% |
Market growth 2023-2027 |
USD 4.05 billion |
Market structure |
Fragmented |
YoY growth (%) |
4.86 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 40% |
Key countries |
US, China, Japan, India, and Germany |
Competitive landscape |
Leading companiess, Market Positioning of companiess, Competitive Strategies, and Industry Risks |
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. |
Market dynamics |
Parent market analysis, market forecast, Market forecasting, 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 |
Customization purview |
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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
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