Growth Overview of Global Multi-Functional Printers Market Mar-2017

Global Multi-Functional Printers Market 2017-2021
The Multi-Functional Printers market report contains a comprehensive market and vendor landscape in
addition to a SWOT analysis of the key vendors for 2017-2021. The following companies are the key
players in the global multi-functional printers market: Canon, HP, Konica Minolta, KYOCERA Document
Solution, RICOH, and Xerox. Other Prominent Vendors in the market are Brother International and
Lexmark International.
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Market Trend
One trend in multi-functional printers market is emergence of new technologies. LED technology was
one the developments in the global printer market which was adopted in the MFPs as well in early 2012.
The LED technology was developed to gain better resolution for the image, text, or content compared
with laser technology. The LED MFPs use the same technology as laser MFPs in terms of printing content
onto the paper. However, it uses the light beamed from light emitting diode (LED) instead of the laser
beam to create the impression of the content on the OPC drum. The precision of content formed on the
OPC drum is much higher than the traditional laser beam technology, resulting in clearer content. High-
resolution color printing, which earlier depended on inkjet printers, will shift to LED MFPs. With the
development of the LED technology, the printing speed for such high-resolution color printing is carried
out at faster speeds and better ink/toner utilization, creating a win-win situation for the end-user in
terms of expected print quality with lower TCO.
Market Driver
One driver in multi-functional printers market is decreasing cost of MFPs. The MFP vendors have
formulated a sale strategy to reduce the initial procurement costs of the MFPs. The leading vendors
have reduced their ASPs of MFPs year-over-year, mostly in favor of consumer end-user segments,
making them affordable for home and very small office applications. This has resulted in the consumer
segment having a 71.61% market share for unit shipment in the global MFPs market in 2016. Though the
vendors face losses due to such low ASPs, the vendors realize their revenue through the sales of ink and
toner cartridges. The vendors who adopt such a pricing strategy manufacture their MFP products in such
a way that they are compatible only with the vendor's brand of ink refills. This is done by keeping a
unique and specific viscosity of liquid ink and specific temperature and pressure in the case of melting
dry ink toner to the paper.
Market Challenge
One challenge in multi-functional printers market is increasing digitalization among the end-users.
Technological advances in cloud-based solutions are affecting the MFPs market directly. With advances
in cloud storage and solutions such as Google Drive and Dropbox have enabled the users to access the
documents remotely with the use of smartphones, tablets, and notebooks. This directly reduces the
requirement for printing for the end-user segments. The scanning functionality is now solved through
apps-based solutions in the smartphones that use the smartphone camera to scan the documents and