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Multi-Functional Printers Market Growing at a CAGR of 3.35% to 2021
Multi-Functional Printers Market is Projected to grow at 3.35% CAGR during the period 2017-2021. Network Consulting Industry research report also provides granular analysis of the market share, segmentation, revenue forecasts and geographic regions of the market.
Marketsizeforecasters.com adds new global Multi-Functional Printers market: report that lists top active companies as Canon, HP, Konica Minolta, KYOCERA Document Solution, RICOH, and Xerox.
Other Prominent Vendors in the market are: Brother International and Lexmark International.
Research Analysts forecast the global Multi-Functional Printers market to grow at a CAGR of 3.35% during the period 2017-2021.
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Commenting on the report, an analyst team said: One trend in market is emergence of new technologies. LED technology was one the developments in the global printer market which was adopted in the MFPs as well in early 2012. The LED technology was developed to gain better resolution for the image, text, or content compared with laser technology. The LED MFPs use the same technology as laser MFPs in terms of printing content onto the paper. However, it uses the light beamed from light emitting diode (LED) instead of the laser beam to create the impression of the content on the OPC drum. The precision of content formed on the OPC drum is much higher than the traditional laser beam technology, resulting in clearer content. High-resolution color printing, which earlier depended on inkjet printers, will shift to LED MFPs. With the development of the LED technology, the printing speed for such high-resolution color printing is carried out at faster speeds and better ink/toner utilization, creating a win-win situation for the end-user in terms of expected print quality with lower TCO.
The listed pricing for this Multi-Functional Printers Market report starts at $ 3500.
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According to the report, one driver in market is decreasing cost of MFPs. The MFP vendors have formulated a sale strategy to reduce the initial procurement costs of the MFPs. The leading vendors have reduced their ASPs of MFPs year-over-year, mostly in favor of consumer end-user segments, making them affordable for home and very small office applications. This has resulted in the consumer segment having a 71.61% market share for unit shipment in the global MFPs market in 2016. Though the vendors face losses due to such low ASPs, the vendors realize their revenue through the sales of ink and toner cartridges. The vendors who adopt such a pricing strategy manufacture their MFP products in such a way that they are compatible only with the vendor’s brand of ink refills. This is done by keeping a unique and specific viscosity of liquid ink and specific temperature and pressure in the case of melting dry ink toner to the paper.
Further, the report states that one challenge in market is increasing digitalization among the end-users. Technological advances in cloud-based solutions are affecting the MFPs market directly. With advances in cloud storage and solutions such as Google Drive and Dropbox have enabled the users to access the documents remotely with the use of smartphones, tablets, and notebooks. This directly reduces the requirement for printing for the end-user segments. The scanning functionality is now solved through apps-based solutions in the smartphones that use the smartphone camera to scan the documents and save them in a PDF format. Therefore, the consumer end-user segment’s requirement for MFPs has diminished, affecting the largest end-user segment (in terms of unit shipment).
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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