Laser Printer Market Share, Growth Opportunities, Development Strategy, Competitive Landscape, Emerging Trends, Future Plans and Regional Forecast to 2023
Market Research Future published a research report on “Laser Printer Market Research Report- Global Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Pune, India – February 18, 2019 /MarketersMedia/ —
Market Scenario
Major giants like HP, Canon, Samsung and Brother are considered to be the key players in the laser printer market owing to the market share they capture. HP has been dominating the overall laser printer market owing to the increasing demand from various industry verticals. HP is followed by Canon and Samsung Electronics in terms of market share.
North America region holds the largest market share of global laser printer market followed by Europe and Asia Pacific regions. The growth is North America region is mainly dominated by U.S. and Canada and is attributed to the increasing demand for mobile communication and consumer electronics in the region. The region also has a well-established infrastructure which allows implementation of advanced technologies.
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Laser printer market has been segmented on the basis of type and end user. The type segment is further bifurcated into single function and multi-function laser printers. Out of which, multi-function printers are expected to hold the largest market share and also grow at a significant rate during the forecast period. This is owing to the increasing demand for multi-function printers across various industry verticals and increasing initiatives from vendors and government. Growing number of government kiosk centers is another major factor driving the penetration of multi-function printers and eventually driving the growth of laser printer market.
Major factor driving the growth of Laser Printer Market is the increasing demand for advanced printing technologies in order to improve productivity and efficiency or the entire workflow. Laser printer basically makes sue of a photocopier technology. It makes use of a laser beam to produce an image on a drum. Laser printers are capable of generating a very high quality print and with unlimited set of fonts. Laser printers are non-impact printers and are simplex in nature. Laser printers are cost effective as well as have great output speeds in comparison to the inkjet printers.
The global laser printer market is expected to grow at approx. USD 2,322 Million by 2023, at 16% of CAGR between 2018 and 2023.
Industry Updates:
Jan 2018 The Brother Company has released a range of new printers and all-in-ones. The complete list of devices comprises of three printers: the Brother HL-L2370DW, HL-L2350DW and HL-L2370DW XL. There are also three more devices that are a part of the multifunction devices range capable of copying, printing and scanning such as the Brother HL-L2395DW, HL-L2390DW and DCP-L2550DW. The additions across the product range includes auto-fulfillment with options together with Amazon Dash Replenishment and Brother Refresh, which implies that the replacement toner cartridges will routinely be dispatched before the printer runs out of ink.
Mar 2018 HP Inc which has an established presence as the leader in printing across the world, recently presented the new HP LaserJet Pro M15 and M28 series which is expected to be the smallest laser in its category. This product is designed to give small and micro business owners unmatched productive and fast printing that can be adapted for any requirement or environment. The product which is 30% smaller than the previous generation, feature a sleek and compact design that can fit nearly anywhere.
Key Players
The prominent players in laser printer market are – HP (U.S.), Canon, Inc. (Japan), Samsung Electronics Co., Ltd. (South Korea), Brother Industries, Ltd. (Japan), Fuji Xerox Co., Ltd. (Japan), Dell, Inc. (U.S.), OKI Electric (Japan), The Ricoh Company, Ltd. (Japan), Lexmark International, Inc. (U.S.), Kyocera Corporation (Japan), Seiko Epson Corporation (Japan) and others.
Laser Printer Market Segmentation
The laser printer market has been segmented on the basis of type and end user. The type segment is further bifurcated into single function and multi-function printer. Out of which, the multi-function laser printer being the more popular one and holding the largest market share of the laser printer market. Multi-function printers are being increasingly implemented in SMEs and large enterprises owing to its cost effectiveness and multi-functional capabilities.
Market Research Analysis:
It has been observed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth in laser printer market in North America is attributed to technical advancements and increasing demand for cost efficient printing solutions for high volume printing needs in that region.
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Intended Audience
• Technology Investors
• Research/Consultancy Firms
• Original equipment manufacturers (OEMs)
• Printer Manufacturers
• Corporate Offices
• Government Institutions
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Contact Info:
Name: Abhishek Sawant
Organization: Market Research Future
Website: https://www.marketresearchfuture.com
Source: MarketersMedia
Release ID: 483113
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