Laser Printer Market – Overview
The increased usage of printers in office spaces for official purposes is one of the main reasons for the growth of the sector. Market Research Future which concentrates on market reports associated to the electronics and semiconductors sector amongst others lately made available a report on this industry. The laser printer market around the world is projected to earn revenues worth USD 4.43 bllion by the year 2030, while growing at 12.23 per cent CAGR between 2022 and 2030.
Due to the rapid rise in the market for laser printers, the market is also taking specific steps for the development of the market in terms of technological advances. Since the increase in the requirement of printing various documents, the demand for such printers has increased considerably in the past few years. The rise in the market is further fuelled by the growth of demand from the consumer end from both the residential and commercial sector. The need for better printing solutions has also encouraged other competitors to enter the market so as to capitalize on the opportunities present.
The Laser printer market globally can be divided on the basis of following basis of type and end user.
By Type: Multi-Function and Single Function
By End User: SMEs, Individual Users, Large Enterprises, Government and Others
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Detailed Regional Analysis
The regional analysis of laser printer industry includes regions such as North America, Asia Pacific, Europe and Rest of the World. It has been witnessed that the North American market is projected to account for the major share of the market, while the Asia-Pacific market is anticipated to develop at the fastest rate through the forecast period. The major development in the laser printer industry in the North American region is credited to technical progresses and growing demand from many industry verticals in that region.
Global Competitive Analysis
The trend for diversification in the industry has enabled the competitors to access the profitable circumstances accessible in this market are being applied by candidates who are trying to increase their market coverage by focused development which can encourage the expansion of this business sector. The merchandise are also being diversified to large extent to keep up with the robust pace of technological discoveries. The companies are trying to create and capture economic value together in an appropriate manner. This has raised the possibilities for the approaching growth period significantly. This consequence has further proven to be productive for companies so they can fix targets that can uphold their profitable enterprise's liquidity to take the most active decisions in terms of strategy execution and designing.
The prominent players in the market for laser printers are Canon, Inc. (Japan), HP (U.S.), Ltd. (South Korea), Brother Industries, Ltd. (Japan), Samsung Electronics Co., Dell, Inc. (U.S.), OKI Electric (Japan), Fuji Xerox Co., Ltd. (Japan), and The Ricoh Company, Ltd. (Japan) to name a few.
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.