The laser printer market is primarily driven by the rise in demand for advanced printing solutions in order to enhance efficiency and productivity. Laser printers are use a powdered toner element, instead of liquid ink, for printing. Laser printers are known for their increased neatness and sophistication of printing projects. Laser printers have also bought cost effectiveness to printing owing to their higher capability to print.
Major factors driving the laser printer market are the capability of these printers to print on large volumes with enhanced sharpness, high quality, accuracy, neatness, cost-efficiency, and increased color intensity. Increase in demand for laser printing in packaging and textile industries and rise in popularity of digital document production in various applications, such as commercial printing, are projected to boost the laser printer market. An important factor that works in favor of laser printers is its speed. These printers are faster than inkjet printers. Companies that need to print large volume of documents are mostly opting for laser printers. Moreover, replacing the toner in laser printers is relatively less expensive than replacing cartridges of inkjet printers.
Adoption of multi-function printers in various end-use industries and households is expected increase during the forecast period. This is due to the multiple functionalities of multi-function laser printers. Multi-function laser printers can deliver high print volume and multiple functionalities, which include fax, scan, copy, and print. Rise in demand for multi-function laser printers is fuelling the laser printer market across the globe.
However, increased popularity of digital media and high initial capital and maintenance cost of laser printers are key factors restraining the laser printer market. Furthermore, rise in popularity of billboards, digital signage, and other digital solutions in advertisements is also restraining the market. Laser printing reduce the operating cost and increase flexibility, as compared to inkjet printing.
The global laser printer market can be segmented based on type, end-use, and geography. In terms of type, the market can be divided into single function and multi-function. Demand for multi-function laser printers is rising; consequently, the segment is expected to hold a higher share, as compared to the single function segment of the laser printer market during the forecast period. This, in turn, is projected to boost the multi-function printers segment, significantly, during the forecast period. Increasing demand for multi-function laser printers across various end-use industries as well as increasing initiatives from government are fuelling the demand for laser printers. Increase in number of kiosk centers is another major factor driving the demand for multi-function laser printers. Based on end-use, the laser printer market can be classified into large enterprises, individual users, SMEs, government, and others. In terms of geography, the market can be categorized into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is a key market, in terms of volume, for laser printer, globally, followed by Europe and Asia Pacific. This is attributed to the well-established infrastructure and implementation of advanced technologies in the region. Furthermore, rise in demand for mobile communication and consumer electronics in North America is propelling the market in the region.
Competition in the global laser printer market is increasing due to the presence of a large number of local and international manufacturers across the globe. Laser printer manufacturers are primarily focusing on innovative solutions with advanced technology and efficiency in order to restrict the risk associated with innovation and enable faster and effective operations. Key players operating in the laser printer market include HP, Canon, Inc., Samsung Electronics Co., Ltd., Brother Industries, Ltd., Fuji Xerox Co., Ltd., Dell, Inc., OKI Electric, The Ricoh Company, Ltd., and Lexmark International, Inc., Kyocera Corporation, and Seiko Epson Corporation.
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