Global Multi-Functional Printer Market is valued approximately at USD 957.25 million in 2020 and is anticipated to grow with a healthy growth rate of more than 5.9% over the forecast period 2021-2027. Multi-functional printers have many benefits over a regular one and it gives many additional features. These are user friendly and have wireless technology to print from anywhere. These printers can be used in combined form for homes and offices, and they have large cloud document solutions as they enhance resources, integrated with other systems and security. MFP can do many functions at a time such as photocopying, printing, scanning, faxing and many others. These are the factors which are driving the growth of printers in commercial and personal use as well. Furthermore, rising online sale of these printers and advancement in technology will be anticipating the growth of market in forecasted period. For instance, in 2018 sales of MFPs has showed 49.4% rise in the six months, according to George Bulat, IDC Canada’s director of Data-Driven Products Inc. In last three months of 2018, there were 400,000 MFPs shipped by Canada. However, high cost of these devices and other material cost with ink and electricity use may impede market growth over the forecast period of 2021-2027.
Global Multi-Functional Printer market analysis on basis of region includes Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is a significant region across the world in terms of market share due to a rise in usage of MFPs at corporate offices, logistics facilities, and educational institutes in the region. Whereas North America is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027 due to presence of many key players such as Xerox in the region.
Major market player included in this report are:
Brother Industries, Ltd.
Hewlett Packard Enterprise Development LP
Seiko Epson Corporation
Eastman Kodak Company
Konica Minolta Business Solutions U.S.A., Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Color Multi-functional Printer
Monochrome Multi-functional Printer
LED Multi-function Printer
Laser Multi- function Printer
Inkjet Multi-function Printer
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Multi-Functional Printer Market Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers