ID: MRFR/SEM/2948-HCR | 100 Pages | Author: Aarti Dhapte | June 2023
The global laser printer market is expected to grow at approx. USD 4.43 Billion by 2030, at 12.23% of CAGR between 2022-2030
The Laser Printer market is majorly driven by increasing demand for advanced printing solutions to enhance the efficacy of the workflow. Laser Printers operate best by the electrical models which further enhances the accuracy of all printed projects. The laser printer has the capability of offering resolutions of up to 600 dots per inch. Since business operations are working on improved dynamics, the demand for high-resolution and augmented printing has increased. Industries like printing textiles and packaging are increasingly demanding digital documents which will lead to the growth of laser printer market.
The global laser printer market is expected to grow at approx. USD 4.43 billion by 2030, at 12.23% of CAGR between 2022 and 2030. Laser printers have a high capability of printing in large volumes assuring high quality. Hence, they are cost-effective, which are also driving factors for the growth laser printer market.
The laser printer has been previously impacted by an increase in digital documents and prints. COVI-19 has increased the downfall of the laser printer market. Since, the lockdowns and restrictions of operations, many companies have shifted to home working which has increased the paperless trends. In addition to this, marketing on digital mediums has increased due to cost-effectiveness which has reduced laser printer market demand in the COVID-19.
Also, brick-and-mortar retailers are being shut- down, which has impacted commercial advertising and billboards. Besides, the national and local closures have impacted the supply and distribution of print products. Companies in laser printing bulk manufacturing have been operating on higher production costs due to the non-availability of raw materials and human resources. In the packaging industry, demand has declined due to COVID-19 which has further impacted the growth of the laser printing market. Textiles industries are producing less due to issues of distribution and production as well. Global Laser Printer Market has been severely impacted due to the outbreak of the pandemic.
Value-added services like graphic design, consultant, data management services that help suppliers in delivering innovative products. Value-added services will help the suppliers in consolidating multiple print activities. Besides, the Laser Printer Market is majorly driven by industries like retail, financial services, food, beverage, and others. Hence, on-demand printing materials, packaging, digital printing, printing in wide- format can be considered a major driver of the laser printing market.
Also, environmental awareness has increased, due to which eco-friendly print materials are increasingly being used. Soy ink-based products are cost-effective while also enable suppliers in managing their carbon prints.
The future of the laser printer market will include features like the web- to- print. These services will allow print designers in uploading printing documents to the cloud which can be printed by the closest printing device. Technological advancements will enable companies in printing commercial items in adequate amounts without delivery delay.
Through cloud-based services and other technological tools communications to printing, devices are faster, hence reducing the cost of operation and delivery. Besides, 3- D printing services have increased due to its highly visible factor than the flat- sheet printing. Thus, laser printer market manufacturers can upgrade their printing machines to 3- D printers for meeting the increasing demand.
The computer to print plate automation will lead the migration of companies into digital channels. As the designer will easily able to send files to electric plates without any intermediary.
Since, digitization has increased, laser printer market manufacturers might suffer losses. The companies and users might shift to cost-saving and paperless products like e-vouchers, e-catalogs, and online tools or targeting the consumers. In addition, the development of eco-friendly materials will increase the prices of feedstock in the short run as suppliers of soy ink are less while are buyers are in huge numbers. Laser Printer Market has a high dependence on feedstock prices that includes solvents, paper-based materials, and other external factors. The prices of raw materials are highly volatile which poses higher risks for laser printing market manufacturers.
There has been a growing demand for digital tools which are cost-effective and can be consumed within fewer times. Hence, the demand for paper-printed materials can be impacted severely. Also, Laser printer manufacturers are pressured for maintaining environmental sustainability, which is expensive. The eco-friendly products are costly as it is still in the developmental stage and are sold by not many suppliers. This raises the cost of laser printing. In addition to this, laser printers applied for commercial purposes require high maintenance and capital cost which can pose a challenge to laser printer market growth. Besides, there has been a reduction in marketing campaigns as companies are using digital billboards, signages, and other digital promotional products.
Organizations and other purchasers of laser printing products are focusing on marketing activities. This includes print channels and suppliers that are being equipped with services that will increase the growth of laser printing market. In addition to this, new improved payment solutions are taking place which will enable manufacturers to realize their payments faster. Increasing digital capabilities will enable laser printer market manufacturers to supply the printed product faster and on-demand.
There is high demand for printing technologies to improve productivity and efficiency within the workflow. Laser printing machine makes use of laser beam for producing high-definition image than a normal photocopier. The font sets in laser printers are presented in unlimited numbers which have increased the demand for laser printers in commercial use. It has gradually replaced the use of inkjet printers, due to its simplex nature, cost-effectiveness, and high output speed.
Besides, cost-efficient printing solutions in the corporate sector are estimated to increase the growth rate of laser printing market share. As large companies, government sectors, and individuals are expected to be the end users of laser printers. Governments in developing regions are using kiosks and other types of marketing tools for promoting their policies to the general public which is an impetus of laser printer market growth.
In the recent, laser printers are being updated with cloud services where images can be directly sent to the printer storage. Thus, laser printer market will require embedding devices with data protection legislation for protecting the information from unauthorized use.
Laser Printer Market can be segmented into type and user which is split into single and multi-function. Multi-function printers are estimated for holding the largest market share at a growth rate. There has been an increasing trend in the market for multi-function amongst industry verticals, printing vendors, and government.
North America is considered the largest market area due to the wider adoption of consumer electronics and communication devices. In this region, there have been higher technological advancements with cost-effective printing solutions that will provide the impetus for market growth. In the North American region, compliance policies and support from the government will provide growth opportunities to the laser printing market.
The Asia Pacific will be the second largest region for the growth of Laser Printer Market. As the demand from retail, transportation, and others have been rising from the upcoming years. Besides, Europe and other regions of the world will encounter increasing demands.
Majo key players in this market are Samsung, Canon, HP, Fuji Xerox, Seiko Epson Corp, OKI Electric, Lexmark International, Kyocera corporation, Ricoh, Konica Minolta, and Eastman Kodak.
HP and Epson are developing technologies for pushing the sale of both inkjet and laser printers. There is a high growth market for A3 devices as 11x 17 inches of paper prints are higher in demand. Cannon launched Image Runner Advance for meeting the demands in the A3 segments. Xerox has also introduced 17 A3 printers in alignment with increasing demand. Konica Minolta has acquired All Covered for expanding its services in cloud platforms. HP has also acquired the printing segment of Samsung for around $1. 05 billion.
Laser Printer Market Report includes market overview, COVID-19 Analysis, market dynamics, value chain analysis, segment overview, regional analysis, competitive landscape, and recent developments.
|Market Size||USD 4.43 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Samsung, Canon, HP, Fuji Xerox, Seiko Epson Corp, OKI Electric, Lexmark International, Kyocera corporation, Ricoh, Konica Minolta, and Eastman Kodak.|
|Key Market Opportunities||3- D printing services have increased due to its highly visible factor than the flat- sheet printing|
|Key Market Drivers||Soy ink-based products are cost-effective while also enable suppliers in managing their carbon prints|
The global laser printer market is predicted to grow at a 12.23% CAGR between 2022- 2030.
The global laser printer market is predicted to reach USD 4.43 billion by 2030.
North America will lead the global laser printer market.
Key factors driving the global laser printer market include demand for advanced printing technologies and demand for multi-function printers.
Key players profiled in the global laser printer market include 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.
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