Press release
Technological Advancement For Efficient Printing Trend: A Crucial Influence on the Multi-Functional Printer Market's Transformation in 2025
Multi Functional Printer Market Outlook
The multi-functional printer market has witnessed strong growth in recent years. It is set to grow from $32.66 billion in 2024 to $35 billion in 2025 at a CAGR of 7.1%. The historical growth was influenced by cost efficiency, office space optimization, environmental concerns, and the integration of digital workflows.
The multi-functional printer market is expected to reach $45.49 billion by 2029, with a CAGR of 6.8%. Growth drivers include the rise of remote work and collaboration tools, enhanced security features, IoT integration, personalization, AI, and automation. Major trends include subscription-based models, integration of cloud printing and storage, eco-friendly innovations, augmented reality support, and the incorporation of edge computing.
What Factors Are Fueling Growth in the Multi-Functional Printer Market?
The growing number of small and medium-sized businesses is set to expand the multi-functional printer market. Small and medium-sized enterprises (SMEs) are businesses with fewer than 50 employees, benefiting from personalized service trends and niche markets. Multi-functional printers help SMEs customize printing solutions for marketing materials, reports, and presentations. For instance, in February 2024, according to Innovation, Science and Economic Development Canada (ISED), a Canada-based government department, small businesses comprised 97.8% (1.19 million) of Canada's 1.22 million employer businesses as of December 2022. With SMEs on the rise, demand for multi-functional printers continues to grow.
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Which Leading Companies Are Shaping the Growth of the Multi-Functional Printer Market?
Major companies operating in the multi-functional printer market are Samsung Electronics Co Ltd., Panasonic Corporation, Lenovo Group Limited, Canon Inc., Hewlett Packard Enterprise Development LP, Toshiba Corporation, Sharp Corporation, Ricoh Company Ltd., KYOCERA Corporation, Konica Minolta Business Solutions, Xerox Corporation, Seiko Epson Corporation, Lexmark International Inc., BOBST Group SA, Star Flex International, Eastman Kodak Company, Shanghai Printyoung International Industry Co Ltd., PANTUM Electronics Co Ltd., Wenzhou Daba Machinery Co Ltd., BFM Srl, KBA-Flexotecnica SpA, UTECO Converting SpA, Comexi Group Industries SAU, Mark Andy Inc., Brother Industries Ltd., Nilpeter A/S
What Are the Major Trends Shaping the Multi-Functional Printer Market?
Key companies in the multi-functional printer market are developing mobile printing solutions like the MX-M1206/M1056 to increase market profitability. The MX-M1206/M1056 is a high-volume digital multifunction printer (MFP) tailored for high-demand environments. For example, in August 2023, SHARP Business Systems (India) Pvt. Ltd., an India-based subsidiary of SHARP Corporation, launched the MX-M1206/M1056 series. These high-speed mono multifunction printers offer a 15.4-inch color LCD touchscreen, advanced paper handling, seamless cloud printing, and support for mobile printing technologies, ensuring efficient and secure printing solutions.
What Are the Key Segments of the Multi-Functional Printer Market?
The multi-functional printer market covered in this report is segmented -
1) By Product: Color Multi-Functional Printer, Monochrome Multi-Functional Printer
2) By Technology: LED Multi-Function Printer, Laser Multi- Function Printer, Inkjet Multi-Function Printer
3) By Application: Corporate, SMB, SOHO, Other Applications
Subsegments:
1) By Color Multi-Functional Printer: Inkjet Color MFPs, Laser Color MFPs
2) By Monochrome Multi-Functional Printer: Inkjet Monochrome MFPs, Laser Monochrome MFPs
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Which Region Dominates the Multi-Functional Printer Market?
North America was the largest region in the multi-functional printer market in 2024. The regions covered in the multi-functional printer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Is Covered In The Multi-Functional Printer Global Market Report?
- Market Size Analysis: Analyze the Multi-Functional Printer Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Multi-Functional Printer Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Multi-Functional Printer Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Multi-Functional Printer Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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