Market Research Future published a research report on “Laser Printer Market Research Report- Global Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Market Synopsis of Laser Printer Market
Major giants like HP, Canon, Samsung and Brother are considered to be the key players in the laser printer market owing to the market share they capture. HP has been dominating the overall laser printer market owing to the increasing demand from various industry verticals. HP is followed by Canon and Samsung Electronics in terms of market share.
North America region holds the largest market share of global laser printer market followed by Europe and Asia Pacific regions. The growth is North America region is mainly dominated by U.S. and Canada and is attributed to the increasing demand for mobile communication and consumer electronics in the region. The region also has a well-established infrastructure which allows implementation of advanced technologies.
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Laser printer market has been segmented on the basis of type and end user. The type segment is further bifurcated into single function and multi-function laser printers. Out of which, multi-function printers are expected to hold the largest market share and also grow at a significant rate during the forecast period. This is owing to the increasing demand for multi-function printers across various industry verticals and increasing initiatives from vendors and government. Growing number of government kiosk centers is another major factor driving the penetration of multi-function printers and eventually driving the growth of laser printer market.
Major factor driving the growth of Laser Printer Market is the increasing demand for advanced printing technologies in order to improve productivity and efficiency or the entire workflow. Laser printer basically makes sue of a photocopier technology. It makes use of a laser beam to produce an image on a drum. Laser printers are capable of generating a very high quality print and with unlimited set of fonts. Laser printers are non-impact printers and are simplex in nature. Laser printers are cost effective as well as have great output speeds in comparison to the inkjet printers.
The global laser printer market is expected to grow at approx. USD 2,322 Million by 2023, at 16% of CAGR between 2017 and 2023.
The prominent players in laser printer market are – 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.
Laser Printer Market Segmentation
The laser printer market has been segmented on the basis of type and end user. The type segment is further bifurcated into single function and multi-function printer. Out of which, the multi-function laser printer being the more popular one and holding the largest market share of the laser printer market. Multi-function printers are being increasingly implemented in SMEs and large enterprises owing to its cost effectiveness and multi-functional capabilities.
The regional analysis of laser printer market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth in laser printer market in North America is attributed to technical advancements and increasing demand from various industry verticals in that region.
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- Technology Investors
- Research/Consultancy Firms
- Original equipment manufacturers (OEMs)
- Printer Manufacturers
- Corporate Offices
- Government Institutions
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