All-in-One Printer/Multifunctionality Printer Market Size (2024 –2030)

According to the latest analysis by Virtue Market Research, the Global All-in-One Printer/Multifunctionality Printer Market was estimated to be worth USD 5.21 billion in 2023 and is projected to reach a value of USD 6.90 billion by 2030, growing at a CAGR of 4.1% during the forecast period 2024-2030.

Multifunction printers (MFPs) or all-in-one printers have gained popularity due to their convenience and efficiency; the integration of machine learning (ML) and artificial intelligence (AI) in printing is expected to create new opportunities for intelligent and personalized printing solutions; innovations like nanotechnology and bioprinting are set to transform the 3D printing sector, presenting new opportunities in engineering, healthcare, and other industries; and the market for multifunctionality printers, which include devices that print, scan, copy, and fax has evolved due to changing customer needs, technological advancements, and new printing applications. SHARP debuted the "BP-30C25Z," a Free Fit Color Multi-Function MFP, at the National Virtual Dealer Meet under the motto "Sustainably with the Change." This flexible MFP can work in a variety of settings and was created with the "Free to Fit" philosophy. It is made for the new normal. Because of advantages like scalability, lower IT overhead, and enhanced agility, more companies are moving quickly to cloud services as the cloud becomes essential for rapid digital transformation. However since companies are adopting cloud computing at different rates, many find that it is a gradual process. Providers of Managed Print Services (MPS) ought to expand their knowledge of cloud computing to assist customers in fusing cloud solutions with their current infrastructure, provide access to cutting-edge technologies, and guarantee that their IT environments are ready for the future.

Key Market Insights:

Inkjet-based all-in-one printers account for approximately 60% of the market share, driven by their versatility, lower initial cost, and suitability for both home and small office environments.

The small and medium-sized business (SMB) segment constitutes around 45% of the demand for all-in-one printers, reflecting the need for cost-effective, space-saving printing solutions in smaller office settings.

In terms of functionality, print-scan-copy-fax models represent about 70% of the market share for all-in-one printers, attributed to the comprehensive feature set that meets most business and home office needs.

The adoption of smart, cloud-connected all-in-one printers is growing at a rate of approximately 15% annually, driven by the increasing demand for remote printing capabilities, mobile device integration, and automated workflows in both home and office environments.

Global All-in-One Printer/Multifunctionality Printer Market Drivers:

Multifunctional printer sales on the Internet are probably going to increase, creating new business opportunities.

The growing trend of selling multifunctional printers through online distribution channels, especially on company-owned and e-commerce websites worldwide, presents a significant opportunity for manufacturers and distributors of these printers. On these e-commerce platforms, manufacturers and suppliers provide enticing discounts and special offers to increase sales of multifunctional printers and other premium printer lines.

It is projected that a key factor in corporate offices, logistical hubs, and educational institutions will be an increase in multifunctional printer use.

It is anticipated that educational institutions, corporate offices, and logistics hubs will see an increase in demand for multifunctional printers. Multifunctional printers are efficient and convenient all-in-one solutions for faxing, scanning, photocopying, and more. Sales of multifunctional printers are expected to rise shortly due to their growing use in business.

All-in-One Printer/Multifunctionality Printer Market Challenges and Restraints:

Technology developments in the cloud are affecting the multifunctional printer (MFP) market. Users can now access documents remotely on laptops, tablets, and smartphones thanks to the growing popularity of cloud storage options, which eliminates the need for printing. Easy information sharing is made possible by the growing use of smart devices and wireless communications, which has proven especially beneficial for business and enterprise users. To further cut down on paper usage, a lot of industries are implementing environmentally friendly programs and paperless technology. These elements are hurting the global MFP market's revenue growth.

All-in-One Printer/Multifunctionality Printer Market Opportunities:

The growing need for adaptable and high-performing printers in the home, business, and educational sectors is driving the growth of the all-in-one printer/multifunctionality printer market. The expansion of the market is being driven by technological advancements such as wireless capabilities, cloud connectivity, and smart features. Further expanding market opportunities are the trend toward online sales channels, growing internet penetration, and the requirement for contactless solutions following COVID-19. Manufacturers who prioritize innovation and economical solutions will be in a good position to take advantage of these trends and grow their market share internationally.

ALL-IN-ONE PRINTER/MULTIFUNCTIONALITY PRINTER MARKET REPORT COVERAGE:

Global All-in-One Printer/Multifunctionality Printer Market Segmentation: By Printer Type

• Inkjet Multi-functional Printer

• Laser Multi-functional Printer

It is anticipated that the laser multifunction printer category will continue to lead the global printer market, with a market share that will increase from 67.4% in 2023 to 69.8% in 2028. Multifunction printers are responsible for this leadership in part because of their many benefits, which include lower costs, less space and power consumption, and increased convenience and versatility. Compared to laser printers, the inkjet printer sub-segment of the multifunction printer market is expected to grow at a faster compound annual growth rate (CAGR). The rising demand for color printing, especially in the packaging and textile industries, and the development of high-speed inkjet heads and hybrid UV/water systems in inkjet printing technologies are the main drivers of this growth. Inkjet printer sales are anticipated to rise in the upcoming years due to these factors.

Global All-in-One Printer/Multifunctionality Printer Market Segmentation: By Type

• Color Multi-functional Printer

• Monochrome Multi-functional Printer

Color multifunction printers, which are renowned for their capacity to generate excellent prints with vivid colors and crisp details that are appropriate for a variety of uses like presentations, reports, brochures, and flyers, dominated the global multifunction printer (MFP) market. These devices save money and space by combining printing, scanning, copying, and faxing functions into a single unit. In the meantime, monochrome multifunction printers saw the fastest growth in the market. When compared to color MFPs, these printers are more reasonably priced and practical, particularly for users who print documents mostly in black and white. Compared to their color counterparts, they are faster and more dependable for routine printing tasks because they have simpler mechanisms and require less maintenance.

Global All-in-One Printer/Multifunctionality Printer Market Segmentation: By Price

• High/Premium

• Medium

• Low

With varying user needs and price points, the all-in-one printer/multifunction printer market is divided into two segments: the high/premium segment comprises printers with sophisticated features like wireless networking, cloud services, security, and automation, as well as high-quality printing, scanning, copying, and faxing capabilities. These printers are ideal for large businesses, professional offices, and graphic design studios, and their typical price range is above USD 500. This segment is expanding quickly because of the growing demand for multifunctional devices that can efficiently handle complex printing needs. Conversely, printers in the low segment have fewer features, such as slower speeds, lower resolution, and smaller paper capacities, but they still can print, scan, copy, and fax. These printers, which typically cost about $200, are well-liked by families, students, and individual users. The all-in-one printer market is dominated by the low segment because of its low cost and capacity to fulfill basic printing needs. The low segment accounts for about 54.3% of the global market's total volume for all-in-one printers and multifunction printers, which is indicative of how widely consumers have adopted affordable and user-friendly devices.

Global All-in-One Printer/Multifunctionality Printer Market Segmentation: By End-use

• Residential

• Commercial

The residential and commercial segments of the all-in-one printer/multifunctional printer market serve different user needs and environments. Printers used for personal purposes, such as printing documents, photos, and assignments, are included in the residential sector and are utilized by households and single users. Usually, these printers have basic features like copying, scanning, printing, and occasionally faxing. They are well-liked by customers since they are reasonably priced, small, and simple to use. In terms of value, the residential segment leads the global market, which is not surprising given how widely affordable and user-friendly devices have become for domestic use. On the other hand, printers used by companies, institutions, and organizations for formal and work-related tasks like printing reports, invoices, contracts, and presentations are included in the commercial sector. These printers meet the demanding printing requirements in a variety of industries thanks to their high-performance capabilities, versatility, and advanced features. Regarding all-in-one and multifunctional printers, the global market is experiencing rapid growth in the commercial segment. The need for effective and flexible machinery that improves workflow and productivity in a variety of industries, including government, finance, healthcare, and education, is what is fueling this growth.

Global All-in-One Printer/Multifunctionality Printer Market Segmentation: By Distribution Channel

• Offline

• Online

The worldwide market for multifunctional and all-in-one printers is split into online and offline segments, each of which serves a distinct set of customer preferences and purchasing habits. Due to the COVID-19 pandemic, rising smartphone and internet usage, the appeal of online shopping, and the need for contactless transactions, the online market is expanding quickly. Customers from all over the world can easily choose from a large selection of printer options, competitive prices, and quick delivery when they shop online, download apps for smartphones, or use social media platforms. In contrast, the offline sector leads the global market in terms of volume and value. This segment consists of physical retailers like Best Buy, Staples, and Walmart as well as convenience stores, hypermarkets, and electronics retailers. Customers who prefer in-person testing and demonstrations of printers before making a purchase are drawn to offline retailers because they offer value-added services like warranties, technical support, installation, maintenance, and repairs.

Global All-in-One Printer/Multifunctionality Printer Market Segmentation: By Region

• North America

• Europe

• Asia-Pacific

• South America

• Middle East and Africa

As of 2023, North America—which includes the United States, Canada, and Mexico—held the largest market share of 37.8% in the global market for multifunctional and all-in-one printers. The market expansion in this region is being propelled by cutting-edge printing technologies, well-known printer manufacturers, and the growing need for smart and wireless printers in a variety of industries, including government, healthcare, education, and finance. In 2022, the Asia-Pacific region—which includes China, Japan, India, South Korea, Australia, and other nations—will account for a sizeable 23.6% of the global market for multifunctional and all-in-one printers. With the impact of COVID-19, rapid industrialization and urbanization, rising smartphone and internet penetration, the popularity of online shopping, and the growing need for contactless delivery services, this region is growing at the fastest rate in the world.

COVID-19 Impact on the global All-in-One Printer/Multifunctionality Printer Market:

The COVID-19 pandemic has had a devastating effect on the world economy, prompting governments to implement widespread lockdowns in an attempt to slow its spread. All industries have been impacted by this crisis, including the multifunction printer market. The pandemic's effects on the economy have forced major market players to change their business strategies. For instance, Xerox declared in April 2020 that it was abandoning its acquisition of HP because of financial difficulties made worse by COVID-19. Shortly, it is anticipated that these market disruptions will limit the multifunction printer industry's growth.

Latest Trend/Development:

Intelligent multifunction printers, also known as MFPs, have interactive user interfaces, touch screens, and cloud connectivity capabilities that enable them to connect to home or business networks quickly. Regular MFPs are losing market share to these more sophisticated MFPs. The market is moving toward MFP technologies that use laser, inkjet, and LED technology. Cloud-based document solutions can be accessed more easily by users when they connect their smartphones or tablets to smart printers through wireless or internet connectivity. Vendors are being forced to adjust to this shift in the market as a result of the growing integration of technical features in electronics. For printing on paper, LED MFPs employ technology similar to that of laser MFPs, and during the forecast period, they are anticipated to further propel the multifunction printer market internationally.

Key Players:

1. Brother Industries, Ltd.

2. Canon Inc.

3. Hewlett Packard Enterprise Development LP

4. Seiko Epson Corporation

5. Ricoh

6. Xerox Corporation

7. Eastman Kodak Company

8. Dell

9. Konica Minolta Business Solutions U.S.A., Inc.

10. KOYCERA Corporation