Laser Printer Market Size to grow by USD 4016.55 million between 2023-2027
According to a research report “ Laser Printer Market” by Product (Laser MFPs, Laser SFPs) Type (Helium-neon lasers, Semi-conductor laser) Geography (APAC, Europe, North America, Middle East and Africa, South America)- Global Forecast to 2027 published by Technavio, the market size is estimated to grow by USD 4016.55 million, at a CAGR of 5.67% during the forecast period. In the corporate sector, traditional single-function laser printing has been a mainstay for numerous years. However, the business landscape has evolved, necessitating the integration of additional features, such as fax, scan, copy, and print, into laser printing systems. This shift towards multifunction printers (MFPs) has gained significant traction among small and large corporations, due in part to their capacity for high print volumes and advanced document functions. Furthermore, MFPs have become increasingly popular among household consumers. Vendors are responding to the diverse organizational print requirements by launching a wide range of multifunctional laser printers, catering to various printing formats.
Browse market data tables, figures, and in-depth TOC on “Laser Printer Market” by Product (Laser MFPs, Laser SFPs) Type (Helium-neon lasers, Semi-conductor laser) Geography (APAC, Europe, North America, Middle East and Africa, South America) Global Forecast to 2027. Download Free Sample
By Product, the Laser MFPs segment is projected to dominate the market size in 2024
In the realm of laser technology, the helium-neon (He-Ne) laser, also referred to as a helium-neon gas laser, is a noteworthy solution renowned for its exceptional performance in demanding applications. This laser system comprises a lengthy, nearly one-meter-long glass tube containing a specific mixture of gases. More precisely, the tube houses a combination of 90% helium at a pressure of 1 mm of mercury and 10% neon at a pressure of 1/10 mm of mercury. For businesses seeking high-performance, low-noise, and long-lasting laser solutions, Lumentum's 1100 Series red He-Ne lasers are an optimal choice. With over one million units sold, Lumentum's offerings have proven their reliability and efficiency in various industries.
By Type, Helium-neon lasers segment is expected to hold the largest market size for the year 2024
The Laser Multi-Function Printer (MFP) segment holds a significant position in the global laser printer market, offering integrated printing, scanning, copying, and occasionally faxing capabilities in a solitary device. This segment's popularity stems from its versatility, cost-effectiveness, and heightened productivity in various applications, ranging from domestic use to large corporations. Key players in this market segment include Brother Industries, Canon, and Dell, who continually innovate to address the evolving requirements of consumers and businesses. For instance, HP Inc.'s May 2023 product launch encompasses the HP Laser SFP series (1,008A and 1,008W) and HP Laser MFP series (1,188A, 1,188W, 1,188NW, and 1,188FNW), delivering a user-friendly plug-and-play setup and an enhanced user interface.
APAC is forecasted to hold the largest market size by region in 2024
The laser printer market exhibits robust growth, driven by increasing demand for high-quality printing solutions in various industries. Businesses seek efficient and cost-effective printing technologies, making laser printers an attractive option due to their speed, durability, and ability to produce high-volume prints. Market trends indicate continued investment in advanced laser printing technologies, ensuring long-term growth prospects for industry participants.
The Laser Printer Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Laser Printer Market is experiencing significant growth, driven by the increasing demand for Wi-Fi enabled, wireless laser printers in both developed and emerging economies. These printers use Semiconductor Laser Diodes or Semi-conductor lasers to produce high-quality, black tone printouts at high-speeds. The integration of IoT and cloud-based technologies in laser printers allows for personalized printer methods and easy access to printouts from anywhere, making them ideal for the telecommunications industry and office spaces. Security is a key consideration in the laser printer market, with touchscreen printers offering enhanced security features to protect against unauthorized access. The use of recycled materials in laser printers is also becoming increasingly important, as is the minimization of costs through compact laser printers and improved quality. The light sources used in laser printers, such as Semiconductor Diode Lasers, have revolutionized letter printing, enabling text to be printed with exceptional clarity and precision. The rising demand for laser printers in urbanization and the expansion of the urban population is further fueling market growth. Overall, the laser printer market is poised for continued growth, offering numerous benefits to businesses and individuals alike.
Market Research Overview
The Laser Printer Market is witnessing significant growth due to product expansions and increasing demand from various industries such as Finance, Accounting, Healthcare practices, Auto shops, Law firms, Entertainment, Pharmaceutical, IT/ITeS, and more. The market's financial position is strong, with contracts and invoices being crucial printing applications. Internal factors like high light density, monochromaticity, straightness, and fiber optic transmission contribute to the coherence and high-quality printouts. External factors like IoT, wireless laser printers, and cloud technology have transformed the printer industry. Micro-economic factors like cost-efficiency, semi-conductor lasers, and semi-conductor diode lasers have made laser printers a preferred choice for budget-conscious enterprises. The largest market revenue comes from the multi-function segment, with touchscreen feature, mobile printing, and Wi-Fi being essential mobility features. Security, personalized printer methods, and cloud-based printers are becoming increasingly important. Recycled materials, touchscreen panels, lightweight cards, adhesive labels, transparencies, and touchscreen feature add to the versatility of laser printers. The telecommunications industry's fiber optic transmission and semiconductor laser diodes have revolutionized letter printing, providing crisp text, consistent black tones, and high-quality graphics. Desktop publishing, digital formats, and software tools have expanded the printing applications for organizations. Cloud services, digital formats, and mobility features cater to the needs of professionals, homes, offices, work-groups, and start-ups, minimizing costs and maximizing performance and quality. The emerging economies' rising demand and urbanization are further driving the laser printer market.
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