Multi-functional Printer Market Size By product type (Laser, Inkjet, LED), By Color Capability (Monochrome, Color), By Connectivity (Wired, Wireless), By Maximum Paper Capacity, By Distribution Channel, & Forecast 2024 – 2032

Multi-functional Printer Market Size

Multi-Functional Printer Market was valued at USD 7 billion in 2023 and is likely to register at 5.5% CAGR between 2024 and 2032, driven by the technological improvements, which continuously improve their capabilities and features, such as print quality and speed, making them more efficient and adaptable. These advancements also enable expanded connectivity possibilities and better software integration.
 

Furthermore, the requirement for low-cost printing solutions is an important factor, as firms seek cost-effective ways to streamline their printing processes. Multifunctional printers provide a compelling value proposition by combining printing, scanning, copying, and faxing capabilities into a single device, eliminating the need for separate equipment and associated costs.
 

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.
 

Multi-functional Printer Market Analysis

Based on the type, the laser segment dominated exceeded USD 4.9 billion in 2023. The laser category dominates the market for multifunctional printers. Laser multipurpose printers use laser technology to generate high-quality prints quickly, making them ideal for busy office situations with high-volume printing requirements. One of the primary reasons for laser printers' popularity is their efficiency and cost-effectiveness in handling huge print quantities, with cheaper per-page printing costs than inkjet competitors. Furthermore, laser printers are noted for producing crisp text and images, making them ideal for corporate documents and professional-quality printing activities. Advancements in laser printing technology have resulted in the development of multifunctional printers with innovative capabilities, such as duplex printing, network connectivity, and cloud integration, further increasing their popularity.
 

Based on the color capability, the monochrome segment dominated 32% share of multi-functional printer market in 2023. In the multifunctional printer industry, both monochrome and color printers meet the needs of diverse users. Currently, the monochrome category is gaining traction owing to cost-effectiveness, efficiency, and specific business requirements. Monochrome multipurpose printers are commonly utilized in situations where text-based documents are the primary printing medium such as offices, schools, and government institutions. These printers offer faster printing rates at lower per-page printing costs than color printers, making them excellent alternatives for high-volume printing activities where color printing is unnecessary.
 

North America region captured around 29% share of the multi-functional printer market in 2023. Due to the technological advancements and infrastructure developments and high adaptation rates in corporate and other offices is boosting the demand for multi-functional printer’s market. With a strong security and after covid 19 the hybrid of jobs are fueling up the demand for multifunctional printer’s market. With a tech savvy consumer base, the strong support by distribution and supply chain network is helping the north America region to be the dominant region in the industry.
 

Multi-functional Printer Market Share

 

The Multifunctional printer market is consolidated with the presence of major players, such as HP Inc, Canon Inc., Epson Corporation, Brothers Industries Limited, and Xerox Holdings Corporation holds substantial share of the market. To increase the scope and variety of its offerings, the organization is implementing organic growth techniques. To diversify their product offerings, reach a wider consumer base, and improve their market positions, these major firms regularly engage in strategic initiatives like mergers and acquisitions, facility expansions, and partnerships. These businesses constantly devote resources to R&D to improve their designs and include state-of-the-art technologies, to stay ahead of the competition.
 

Multi-functional Printer Market Companies

Major players operating in the multi-functional printer industry include:

• Brother Industries Ltd.
• Eastman Kodak Co.
• Hewlett Packard Enterprise Co.
• Konica Minolta Inc.
• Kyocera Corp.
• Lexmark International Inc.
• NEC Corp.
• Oki Electric Industry Co. Ltd.
• Panasonic Holdings Corp.
• Ricoh Co. Ltd.
• Samsung Electronics Co. Ltd.
• Seiko Epson Corp.
• Sharp Corp.
• STAR MICRONICS Co. Ltd.
• TIM S.p.A.
   

Multi-functional Printer Market Industry News

• In August 2023, Canon launched its newest line of business printers, the MAXIFY GX1070 and GX2070 for home offices and small businesses. These printers are ideal company tools for working from home or in small workgroup settings since they combine rapid printing speeds and water resistance with a host of productivity advantages.
   
• In May 2023, Epson announced the launch of Sure Color T-Series Wide-Format Multifunction Printers, which are designed to provide high-speed CAD and graphics output. These models deliver A1/D-size prints in as fast as 16 seconds.
   
• In April 2023, Ricoh launched its A3 Color Multifunction Printer Series with 50% recycled materials and superior environmental performance. Ricoh has created the Intelligent–Multifunction (IM) series of A3 color multifunction printers to function as an all-rounder device. These models make use of some of Ricoh's most advanced technology to help customers in digitizing and streamlining their business processes.
   

This multi-functional printer market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) and volume (Thousand Units) from 2018 to 2032, for the following segments:

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Market, By product type

• Laser
• Inkjet
• LED

Market, By Color Capability

• Monochrome
• Color

Market, By Connectivity

• Wireless
• Wired

Market, By Maximum Paper Capacity

• Up to 2,000 Sheets
• 2,000-3,000 Sheets
• 3,000-4,000 Sheets
• Above 4,000 Sheets

Market, Application

• Residential
• Commercial
  • Corporate offices
  • Healthcare
  • Educational
  • Hospitality
  • Other industries (Event planners, etc.)

Market, By Distribution Channel

• Online
  • E-commerce websites
  • Company-owned websites
• Offline
  • Electronic stores
  • Specialty stores
  • Others (Home appliance stores, etc.)

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea 
• Latin America
  • Brazil
  • Mexico
• MEA
  • Saudi Arabia
  • UAE
  • South Africa