According to the report, the global printers & copier market is likely to grow from USD 55.0 billion in 2025 to USD 91.9 billion in 2035 at a moderate CAGR of 4.8% during the time period. Hybrid work culture evolution, demand for cloud-connectivity, and rise of managed print services act as growth drivers for the global Printers & Copier market. With companies all around the world deploying flexible work models, the demand for remote and secure print solutions has surged exponentially. Modern offices now emphasize installation of cloud-enabled multifunction printers (MFPs) that provide advanced encryption and mobile printing support. Funded institutions and governments continue to rely upon traditional print infrastructure, especially in developing areas. Energy-efficient tech and automated document workflow integration are a source of added value for companies looking at cost reduction in operating expenses.
In April 2024, Epson introduced the WorkForce Enterprise AM-C4000 Series featuring heat-free PrecisionCore technology to reduce energy use while churning out up to 40 pages per minute taking into account environmental considerations and performance needs of mid-size companies. Thus, the combined effect bundles together the steady growth of the market across diversified verticals.
The integration of Internet of Things (IoT) and smart office ecosystems is a major growth driver for the global printers & copier market. As offices become more and more interconnected, printers having embedded IoT capabilities offer predictive maintenance, usage analytics, and easy integration with other devices. This enhances operational efficiency while attacking downtime.
It was for this reason that in March 2024, HP introduced its HP Smart Enterprise platform that connects office printers with enterprise networks for real-time monitoring and cloud-document workflows, attracting IT-based enterprises.
A growing global emphasis on sustainability and digitalization places a serious restraint on the printers & copier market. Enterprises are adapting to paperless workflows in cutting their costs alongside minimizing environmental footprints, especially in sectors like finance and healthcare.
For instance, early into 2024, firms such as DocuSign and Adobe expanded digital document services, thus reducing the dependency on paper documentation and, in turn, further lessening the need for traditional office printing equipment.
Strong growth opportunities for printer and copier vendors lie in the emerging markets in Asia, Africa, and Latin America. Urbanization, SME developments, and digital literacy are on the rise; hence, demand is mounting for affordable and multifunctional printing devices.
Canon, in February 2024, expanded the PIXMA and imageRUNNER lines in India and Southeast Asia with budget-conscious, wireless-enabled models aimed at small businesses and educational institutions-an indication of untapped potential in developing markets.
One cannot but stick with the idea that tariff rates unfairly affect the cost structure and competitiveness within the international printers and copying realm. Higher import tariffs at times on electronic hardware and components do naturally add to the manufacturing and procurement costs on OEMs and distributors, the more so when cross-border supply chains come into play. For instance, under the momentous tariff wars between the U.S. and China, the U.S. commenced the 25% import tariff on printers and parts from China in 2019, which went on to affect pricing trends till 2023. This required manufacturers, such as Brother and Canon, to reconsider their manufacturing and supply bases so as to evade the tariff and thereby, remain profitable...
Because of the persistence of the tariffs and the accompanying geopolitical tensions, manufacturers have found itfit to diversify their production bases to strategically mitigate that effect. Epson was one of the companies that in January 2024 declared they would start transferring some part of their assembly of inkjet printers from China to Vietnam and the Philippines to lessen the impact of increasing tariffs and exploit lower labor cost and trade-friendly environment. Consequently, these relocations are heralding a makeover for global supply chains and are lag encouraging localization strategies to maintain cost competitiveness.
Prominent players operating in the global printers & copier market are Brother International Private Ltd., Canon Inc., Dell Inc., Epson, Fujifilm, HP Development Company, L.P., Konica Minolta, KYOCERA Corporation, Lexmark International Inc., Oki, Ricoh, Roland, Sharp Corporation, Toshiba Corporation, Xerox Corporation and Other Key Players.
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