Expansion in end-use industries and rise in number of home businesses and SMEs are expected to propel the copier market size in the near future.
Wilmington, Delaware, United States, July 06, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global copier market is forecast to register impressive growth from 2023 to 2031, registering a CAGR of 3.9% to reach a valuation of US$ 19.7 billion, according to a recent study published by Transparency Market Research.
Copier machine is an important tool for any office or business. It is an electronic device used to make multiple copies of a document or image. Copy machines use a combination of light, heat, and static electricity to reproduce the content onto a separate sheet of paper.
Some copier machines offer additional features such as printing, scanning, and faxing, making them versatile and multifunctional devices. The cost of a copier machine varies depending on its features and size.
Copier machines have become an essential tool in offices, schools, and other business settings, as they provide a quick and efficient means of reproducing documents without the need for handwriting or manual duplication.
Copier machines are becoming increasingly user-friendly, with several models offering features such as automatic document feeders and wireless printing capabilities. Therefore, businesses of all sizes, from home businesses to large corporate offices, are finding that copier machines are an essential part of their operations.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 8.2 Bn | |
| Estimated Value | US$ 19.7 Bn | |
| Growth Rate – CAGR | 3.9% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 160 Pages | |
| Market Segmentation | By Type, Technology, Output, Paper Size, No. of Copies, End-use Industry, Distribution Channel | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | Brother International Private Ltd., Canon Inc., Dell Inc., Epson, HP Development Company, L.P., KYOCERA Corporation, Lexmark International, Inc., Ricoh, Sharp Corporation, Xerox Corporation, Other Key Players | |
Key Takeaways from the Market Report
- As of 2022, the global copier market was valued at US$ 8.2 billion
- A valuation of over US$ 9 billion is expected for the copier market in 2023
- From 2022 to 2023, a y-o-y growth rate of over 10% has been anticipated for the market
- By type, multi-function copiers are expected to enjoy more popularity compared to single-function ones
- An increase in the number of SMEs is likely to drive copiers adoption across commercial spaces
- From 2023 to 2031, the global copiers market is expected to expand by more than 2x
Global Copier Market: Key Growth Drivers & Trends
- Demand for copier machines for home businesses and small and medium-sized enterprises (SMEs) is on the rise. Small businesses rely on wireless printer scanner copiers to perform daily operations ranging from printing invoices to contracts to warranties or labeling
- Additionally, the rise in the number of people working from home and surge in the need to create multiple copies of documents quickly and easily are boosting the copier market value.
- According to the U.S. Chamber of Commerce, there are 33.2 million small businesses in the U.S. In 2021, a record-breaking 5.4 million new business applications were documented in the U.S. Thus, the surge in the number of home businesses and SMEs is driving the copier market progress.
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Global Copier Machines Market: Regional Outlook
- According to the latest copier market forecast, North America is anticipated to hold the largest share from 2023 to 2031. Expansion in various end-use industries, such as government, enterprises, residential, corporate, and education, is fueling market dynamics in the region
- The industry in the Asia Pacific is expected to grow at a rapid pace during the forecast period. Expansion in the SME sector and surge in need for high-speed copier machines and multifunctional devices are boosting market revenue in the region.
Competitive Landscape
The global industry is highly stagnant and competitive, with the presence of various global and regional players including Brother International Private Ltd. Canon Inc. Dell Inc. Epson, HP Development Company, L.P. KYOCERA Corporation, Lexmark International, Inc. Ricoh, Sharp Corporation, and Xerox Corporation.
Key players in the copier market report have been profiled based on various parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments. Major companies are investing significantly in the R&D of new products to expand their product portfolio. They are also adopting collaboration, partnership, and M&A strategies to broaden their customer base.
Key Developments
- In May 2023, Canon announced latest additions to an extensive line-up of A3 and A4 tone and monochrome laser Multi-function Devices (MFDs) – the image RUNNER ADVANCE (iR-ADV) DX C3900i series, iR-ADV DX 8900i series, iR-ADV DX 4900i series, iR-ADV DX C359i, iR-ADV DX 619i, image RUNNER (iR) 2900i series, and iR C3326i
- In July 2022, Brother International Private Ltd. launched five brand-new A3 multi-function devices – MFC-J6940DW, MFC-J6740DW, MFC-J6540DW, MFC-J5740DW, and MFC-J5340DW – with features that are appropriate for hybrid working environments and modern businesses
- In February 2022, Kyocera introduced the TASK Alfa 7054ci/7004i series of A3 multifunctional devices, which includes TASK Alfa 7054ci, 6054ci, 5054ci, and 4054ci. The company also launched three monochrome printers that produce clear black-and-white prints: the 7004i, 6004i, and 5004i TASK Alfas.
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Key Segments Profiled
Type
- Single Function
- Multi-function
Technology
- Inkjet Printing
- Laser Printing
Output
- Monochrome
- Color
Paper Size
- A3
- A4
- Wide Format
- Cut Sheet / Auto Size
- Others (Executive 1, Executive 3, etc.)
No. of Copies
- Less than 1000/month
- 1000 – 5000/month
- 5000 – 10,000/month
- More than 10,000/month
End Use Industry
- Residential / Individual
- Commercial
- Corporate Offices
- Educational Institutes
- Others (Commercial Photocopy Shops, Government Organizations, etc.)
Distribution Channel
- Direct Sales
- Indirect Sales
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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