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.
Use our analysis and insights for effective decision-making. 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.
- Brother Industries Ltd. - The company offers mono-laser printers and color laser printers.
- Canon Inc. - The company offers laser printers under the brand, Laser Shot.
- Dell Technologies Inc. - The company offers black and white laser printers and color laser printers.
- HP Inc. - The company offers laser printers under the brand, HP LaserJet.
- Konica Minolta Inc. - The company offers laser printers under the brand, bizhub.
Laser Printer Market Product Outlook (Revenue, USD bn, 2020-2025)
- Laser MFPs - size and forecast 2020-2025
- Laser SFPs - size and forecast 2020-2025
Laser Printer Market Geography Outlook (Revenue, USD bn, 2020-2025)
- APAC - size and forecast 2020-2025
- Europe - size and forecast 2020-2025
- North America - size and forecast 2020-2025
- MEA - size and forecast 2020-2025
- South America - size and forecast 2020-2025
Do you want to learn about the contribution of each segment of the market? 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.
