Laser Printer Market to Hold a High Potential for Growth by 2024 | Major Vendors are Samsung, Canon, HP, Fuji Xerox, Brother Industries, Dell, Lexmark International, OKI Electric, Xerox, Konica Minolta, Eastman Kodak, Seiko Epson
Laser Printer Market is categorized by types into single-function and multifunction printers. Multifunction printer market is dominating the market and is estimated to resonate the trend during the forecast period. The growth of the market is credited to the compact design and multiple features offered by these systems. Multifunction printers are mainly used for domestic and commercial applications due to their compact size, ease-of-use, reliability, and versatility. It eliminates the need to purchase different peripherals, such as printers, scanners, and copiers, and reduces the capital cost and provides the flexibility of operation. The capability of the laser printers to print on large volumes with high quality, enhanced sharpness, and color intensity is estimated to drive the market growth. Moreover, the benefits offered by laser printers over other variants, such as cost efficiency and the ability to print at large volumes, are also estimated to foster the market growth.
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The rising demand for cost-efficient printing solutions in the corporate sector is stimulating the market growth. Laser printer market growth is credited to the cost-efficiency, high accuracy, and the quality of the print. Larger enterprises, SMEs, government organizations, and individual users are some of the major end users of the laser printers.
North America is leading the market space owing to the wide adoption of consumer electronics and mobile communication. The technological advancements and the rising demand for the cost-efficient printing solutions for high-volume printing projects also aid in the market growth. Moreover, favorable government and compliance policies will foster the laser printer market growth.
Asia Pacific laser printer market will gain a momentous growth considering the rising demand for printing solutions among retail, transportation, and other industry verticals. Furthermore, the increasing trend of online retailing and the growing need for mobile workforce are also estimated to contribute significantly toward the growth of the market.
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Large enterprises are estimated to account for a major share in the laser printer market. The rapid growth in the signage and advertisement sector along with the development of the packaging, textile, and printing industries is augmenting the demand for the laser printers. Furthermore, the growing number of government kiosks in the developing countries including India, China, and Brazil is also fueling the market growth.
Laser Printer Market is driven by the rising requirement for advanced printing solutions to enhance the efficiency and productivity of the workflow. Laser printers work on the laser and electrical charge model that enhances the accuracy and neatness of the print projects and offers a resolution of up to 600 dots per inch or higher. Its printing technique, fineness, clarity, and high resolution are augmenting the demand for the laser printer industry. Furthermore, the increasing demand for printing in textile and packaging industries along with the growing importance of the digital document production in commercial printing applications will also foster the market growth.
Some of the major vendors of the laser printer market are Samsung, Canon, HP, Fuji Xerox, Brother Industries, Dell, Lexmark International, OKI Electric, Kyocera Corporation, Ricoh, Xerox Corp, Konica Minolta, Eastman Kodak, and Seiko Epson Corp.
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