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NEW YORK, June 10, 2022 /PRNewswire/ — The increasing popularity of MFPs is driving the global laser printer market growth. Several vendors are launching multifunctional laser printers for various printing formats to support the diverse organizational print requirements. For instance, in January 2018, Brother International launched nine new models of monochrome laser printers and all-in-one printers for small and home offices. The popularity and adoption of MFPs in households and small and large corporates are expected to rise owing to their multiple functionalities.
The laser printer market size is anticipated to grow by USD 2.82 billion from 2020 to 2025. Moreover, the growth momentum of the market will accelerate at a CAGR of 4.51% during the forecast period.
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Key Challenges
The adoption of cloud data storage will challenge the global laser printer market growth. Companies are increasingly adopting cloud data storage architectures. They can deploy cloud-based data storage solutions, such as Google Drive and Dropbox, which have remote access features for documents. Cloud enables the online storage of data on remote servers. Cloud services also enable faster and easy uploading, retrieval, and sharing of documents, which reduces the need to print, store, and share documents in the hardcopy format.
Key Vendors and their Offerings
The market is concentrated, and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Some of the key vendors operating in the market include Brother Industries Ltd., Canon Inc., Dell Technologies Inc., HP Inc., Konica Minolta Inc., KYOCERA Corp., Lexmark International Inc., Oki Electric Industry Co. Ltd., Ricoh Co. Ltd., and Seiko Epson Corp. among others.
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Laser Printer Market Product Outlook (Revenue, USD bn, 2020-2025)
Laser Printer Market Geography Outlook (Revenue, USD bn, 2020-2025)
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Regional Analysis
APAC is expected to account for 40% of the market’s growth during the forecast period. The presence of major laser printer manufacturers in the region will drive the market growth in APAC during the forecast period. Moreover, market growth in this region will be faster than the growth of the market in regions. China is a key country for the market in APAC.
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Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.51% |
Market growth 2021-2025 |
USD 2828.84 million |
Market structure |
Concentrated |
YoY growth (%) |
3.47 |
Regional analysis |
APAC, Europe, North America, MEA, and South America |
Performing market contribution |
APAC at 40% |
Key consumer countries |
China, US, Japan, Germany, and India |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Brother Industries Ltd., Canon Inc., Dell Technologies Inc., HP Inc., Konica Minolta Inc., KYOCERA Corp., Lexmark International Inc., Oki Electric Industry Co. Ltd., Ricoh Co. Ltd., and Seiko Epson Corp. |
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 forecast period |
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. |
Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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