Global Market Insights, Inc. presents an extensive report on multi-functional printer market that offers qualitative information about prevailing trends and a detailed analysis of the growth trajectory of this industry. It also includes a study of the historical data and detailed statistics that will help determine the future scope of the industry in terms of commercialization opportunities.
Multi-Functional Printer Market have been constantly innovating the technology to implement a reduction of total cost of multi-functional printers. The vendors have incorporated precision print and power management technologies to enable an enhanced print quality and manage the uniform ink distribution. This will aid the cartridges to last for a longer duration, providing growth opportunities for vendors in emerging nations and expanding businesses in developed countries.
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The North America region holds the largest market share of the multi-functional printer market globally, followed by Europe and Asia Pacific regions. The growth of the multi-functional printer industry in the North America region is due to the increase in communication technology and a sophisticated documentation system along with the rising demand for simplified consumer electronics. Moreover, Canada and the U.S. even possess an established technical infrastructure, which enables growth and implementation of advanced technologies.
Another facet that has influenced the market significantly is the reduction of initial procurement cost by the multi-functional printer market for the sale of multi-functional printers. To capture the consumer end-use segment, some of the leading vendors in the market space such as RICOH and HP have reduced their ASPs of multi-functional printer year over year. This has implied MFPs have become more accessible and affordable for small office and home applications in 2016.
In the Asia Pacific region, the integration of multi-functional printer market into sectors such as banking, IT, and real estate in developing countries including China and India for essential operations will drive the growth of the MFP market. The decrease of the ASP of multi-functional printers has also contributed considerably to the penetration of MFPs into the market.
Multi-Functional Printer Market size is driven by the efficiency offered by MFPs and the market penetration of multi-functional printers in the end-user segments, such as enterprise and commercial segments, irrespective of color or monochrome MFPs and laser or inkjet MFPs. The growth of the market is primarily due to the demand for MFPs, which can perform multiple tasks of printing, copying, and scanning effectively compared to printers that perform individual tasks like scanning, copying, and printing.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.