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Multi-functional Printer Market Trends

Report ID: GMI8544
Published Date: Mar 2024
Report Format: PDF

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Multi-functional Printer Market Trends

The multifunctional printer market is witnessing an increased adoption of smart and connected printers, indicating an important shift in traditional printing solutions. These printers, equipped with advanced technologies including IoT connectivity, embedded sensors, and cloud-based services, are evolving into intelligent, data-driven devices. Remote monitoring and management capabilities are the key advantages, as they provide IT administrators with real-time insights into device status, consumable levels, and maintenance requirements. This approach reduces downtime and improves printer performance, boosting operational efficiency.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of multi-functional printer was reached USD 7 billion in 2023 and will grow at 5.5% CAGR from 2024 to 2032, due to technological improvements to continuously improve their capabilities and features, such as print quality and speed.

The monochrome color capability segment held 32% share of the multifunctional printer market in 2023, owing to their cost-effectiveness, efficiency, and specific business requirements.

North America recorded 29% share of the multifunctional printer market in 2023, driven by technological advancements and infrastructure developments along with high adaptation rates in corporate and other offices.

Some of the renowned multi-functional printer providers include Brother Industries Ltd., Eastman Kodak Co., Hewlett Packard Enterprise Co., Konica Minolta Inc., Kyocera Corp., Lexmark International Inc., and NEC Corp.