The future of the laser printer market is surprisingly projected to be very lucrative. The number of laser printers manufactured each year is expected to only continue rising, as the world's population continues to grow. The introduction of new technologies also means more people will have access in more places to laser printers which they may not have had before.
A major challenge for the future of the laser printer market is that, with the introduction of newer technologies being more popular for a lot of people, many older printers will be rendered obsolete. This may lead to fewer individuals purchasing new models and an overall decrease in demand for such products in the near future.
The popularity of laser printers is expected to be followed by a decline in their price. This will eventually occur because of the increase in the number of models being sold in the market, which would demand a lower price for each unit.
Laser technology is also projected to continue its expansion. The development and growth in the use of laser printers will also lead to cheaper prices, as more people would be able to afford this type of technology in future. In terms of geographical coverage, the future of the laser printer market poses a lot of opportunities for growth due to the "internet penetration" globally and a growing middle-class population globally outside developed nations such as Japan and Western Europe.
There are some other factors that may also have an impact on the future of the laser printer market such as environmental issues caused by cartridges and toner, and technical problems with communication networks. However, these two factors are unlikely to have much influence over the future of the market considering recent development in terms of cartridge recycling and communication networks improvements such as 5G.
The demand for laser printers is rapidly growing but it has been limited by the lack of support from major technology companies and the fact that laser printers are not developed as quickly as smartphones or tablets. There are a few factors that will contribute to this change in the future which include increased desire for more advanced 3D printers, larger consumer markets and affordable 3D printers, and shrinking printer memory.
A worldwide survey conducted by Dell revealed that 18% of respondents purchase a new printer every 12 months. The laser printer market is growing compared to other printer types because it has high quality printing capabilities, high resolutions, speed efficiency, offers multi-functions such as scanning and copying (which can save money), has low printing cost per page than inkjet printers (around half), and helps reduce office space requirements by providing wireless capabilities.
There are a few factors that are expected to limit the growth of the laser printer market. One factor is the rising cost of printer cartridges and toner which limits some consumers from purchasing a laser printer or using it on a regular basis. This can be problematic for many households who print documents frequently for work or educational purposes. The second factor involves remanufactured cartridges that do not work efficiently or in some cases, at all on printers.