Multi-Functional Printer market share research by applications and regions for 2018-2024

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Multi-Functional Printer market share research by
applications and regions for 2018-2024 Global
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Overview of Multi-Functional Printer Market

• It is expected that with an ever-growing
  awareness about the eco-friendly business models
  among the end-user segments, the multi-functional
  printer market will experience a tremendous
  growth globally over the forecast period. Few of
  the key players that offer multi-functional
  printers with features include Canon, Brother
  International, Konica Minolta, Samsung, OKI Data
  Corporation, RICOH, Toshiba, HP, Lexmark
  International, KYOCERA Document Solution, Seiko
  Epson, Dell, Panasonic, Kodak, Sharp, and Xerox.
• Multi-Functional Printer Market size is driven by
  the efficiency offered by MFPs and the market
  penetration of multi-functional printers in the
  end-user segments, such as enterprise and
  commercial segments, irrespective of color or
  monochrome MFPs and laser or inkjet MFPs. The
  growth of the market is primarily due to the
  demand for MFPs, which can perform multiple tasks
  of printing, copying, and scanning effectively
  compared to printers that perform individual
  tasks like scanning, copying, and printing. This
  has resulted in a change in technology and
  applications with the evolving business
  requirements, which ranges from mobile printing
  to wireless connectivity to cloud storage. All
  these features are available in smart MFPs,
  contributing to the market immensely.

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• Another facet that has influenced the market
  significantly is the reduction of initial
  procurement cost by the MFP vendors for the sale
  of multi-functional printers. To capture the
  consumer end-use segment, some of the leading
  vendors in the market space such as RICOH and HP
  have reduced their ASPs of multi-functional
  printer year over year. This has implied MFPs
  have become more accessible and affordable for
  small office and home applications in 2016.
  Moreover, vendors have recovered losses incurred
  due to low ASPs of MFPs by the continuous sale of
  toners and ink cartridges, by ensuring their
  printers are compatible with their manufactured
  cartridges only. This manufacturing strategy aids
  the company in compensating for the initially
  incurred losses.
• Furthermore, MFP vendors have been constantly
  innovating the technology to implement a
  reduction of total cost of multi-functional
  printers. The vendors have incorporated precision
  print and power management technologies to enable
  an enhanced print quality and manage the uniform
  ink distribution. This will aid the cartridges to
  last for a longer duration, providing growth
  opportunities for vendors in emerging nations and
  expanding businesses in developed countries.

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• However, one of the market restraints of the
  multi-functional printers is their high pricing.
  This implies that performing operations with
  multi-functional printers can be very expensive.
  The machine comprises a combination of the
  copier, fax machine, printer, and the ink for
  multi-function printers that gets depleted
  quickly compared to separate machines. These
  factors can adversely affect the growth of MFPs.
  Moreover, when damaged internally, every feature
  of MFP shuts down and this can cause issues for
  businesses.
• The North America region holds the largest market
  share of the multi-functional printer market
  globally, followed by Europe and Asia Pacific
  regions. The growth of the multi-functional
  printer market in the North America region is due
  to the increase in communication technology and a
  sophisticated documentation system along with the
  rising demand for simplified consumer
  electronics. Moreover, Canada and the U.S. even
  possess an established technical infrastructure,
  which enables growth and implementation of
  advanced technologies.
• In the Asia Pacific region, the integration of
  multi-functional printers into sectors such as
  banking, IT, and real estate in developing
  countries including China and India for essential
  operations will drive the growth of the MFP
  market. The decrease of the ASP of
  multi-functional printers has also contributed
  considerably to the penetration of MFPs into the
  market.

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Methodology

• Market
  research reports Key analytical components

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