Pune, India, March 08, 2023 (GLOBE NEWSWIRE) --
The global copiers market size is estimated to expand on account of the transition from analog technologies to digital copying technologies, shares Fortune Business Insights™, in its report, titled, "Copiers Market, 2023-2030." The most recent operation technology of copiers is known as xerography, which is a dry system that utilizes heat infused techniques.
Copiers use other low-end technologies such as inkjets, suitable for residential and office purposes. The increasing usage of electronic devices, such as laptops, computers, mobile phones, and others has demanded an upgradation in technology from copiers to create a photocopy or to print. The rising demand for high-technology printers would boost the copiers market growth.
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Market Drivers & Restraints:
Affordable Rates of Printer Models to Fuel the Demand of Copiers
The increasing number of government organizations and expansion of the corporate world is set to fuel the demand for copiers as printing is a basic need for paperwork. A surge in the number of educational establishments, specifically in emerging economies is expected to demand the innovation of modern technology printers. Other factors contributing to the growth of the market are the easy availability of affordable photocopy printers and models. For instance, in 2018, Hewlett Packard Inc. dominated the Indian printer market holding around 47% of the shares.
Whereas, the available alternative methods such as digitalization of paperwork, conscious usage of paper, and the method to reprint instead of photocopying originals are likely to hamper the market growth.
COVID-19 Impact:
Lockdown Restrictions to Hamper Market Growth
The global pandemic of COVID-19 impacted the copiers market all over the world. During the unfortunate series of lockdowns, governments of numerous regions implemented stringent rules and norms to help curb the spread of the virus. One such condition was ceasing borders. Due to the closure of international borders, transportation and supply chain processes were disrupted. All this concludes down to the budget freeze and struggles with cash flow in the first quarter of 2020.
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Segmentation of Market:
The copiers market can be segmented by type, color, and application.
By type, the market can be divided into wide format copy machines, digital copy machines, and all-in-one copy machines. Wide format copy machines are used for printing larger documents such as blueprints and architectural drawings. Digital copy machines use digital technology to make copies and offer advanced features such as network connectivity and document management. All-in-one copy machines combine printing, scanning, copying, and sometimes faxing capabilities into a single device.
By color, the market can be categorized into monochrome copiers and color copiers. Monochrome copiers use black and white toner to create copies, while color copiers use colored toner to produce color copies.
By application, the market can be segmented into government and commercial. Government applications include printing documents such as reports, letters, and contracts. Commercial applications include printing marketing materials, business documents, and other professional materials
With a geographical stand-point, the market is separated into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
Regional Insights
Asia Pacific to Lead Owing to High Investments by Reputed Companies
Asia Pacific is anticipated to hold major copiers market share and dominate globally. This is due to the heavy investments done by key players in emerging economies, such as China, Japan, India, and South Korea as they are yet to be unexploited and have major scope for business.
The Middle East & Africa and Latin America would showcase considerable progress at a rapid pace owing to the increased development in the infrastructural activity and cheaper labor costs.
North America and Europe are set to exhibit decent growth on account of the lack of scope for further innovations and minimal scope for development.
Report Scope & Segmentation:
By Type
- Wide Format Copy Machines
- Digital Copy Machines
- All-In-One Copy Machines
By Colour
- Monochrome Copiers
- Colour Copiers
By Application
- Government
- Commercial
- Others (Offices, etc.)
By Region
- North America (U.S. and Canada)
- Europe (UK, Germany, France, Italy, Spain, and Rest of Europe)
- Asia Pacific (Japan, China, India, Southeast Asia and Rest of Asia Pacific)
- Middle East & Africa (GCC, South Africa and Rest of Middle East & Africa)
- Latin America (Brazil, Mexico and Rest of Latin America)
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List of Key Players Covered In the Copiers Market Report
- Xerox
- Ricoh
- HP
- Lexmark
- Canon Inc.
- Kyocera
- Sharp
- Konica Minolta
- Brother International
- Samsung Electronics
- Dell
Competitive Landscape
New Product Launches by Prominent Players to Boost the Market Growth
Prominent players in this market are showcasing their innovative potentials by designing, developing, and launching modern technology infused copiers. The acutely competitive environment created by key players is also encouraging other market participants to introduce innovative products, thereby augmenting the potential of this market in the process. One such strategy is to acquire other potential companies to mark the presence of the parent company in the market.
For example, in March 2020, a Dutch printer maker company named Oce was acquired by the leading player Canon Inc. to enhance its presence in the regional, as well as the global market.
Industry Development
December 2020: A leading player in the printing market, Konica Minolta Business Solutions launched a professional digital printer, AccurioPress C14000/C12000 to strengthen its build in the print portfolio. It has introduced two machines: 140-ppm AccurioPress C14000 and 120-ppm AccurioPress C12000.
Highlights of the Report
The report offers an in-depth analysis of the railway wiring harness market. It shares a thorough evaluation of the market trends, drivers, restraints, and opportunities to help the businesses and investors. Further, the report supplies tangible insights about the competitors and their strategies to maintain their leading positions in the market. The report also offers an integrated study about the impacts of the pandemic on the various segments of the market.
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