Lewes, DE -- (SBWIRE) -- 04/10/2017 -- Report forecast the global multi-functional printers market to grow at a CAGR of 3.35% during the period 2017-2021.

An MFP is an integrated device that can perform multiple functions like printing, scanning, and photocopying. Some MFPs also have fax functionality. However, the fax functionality is not considered as a norm for MFPs, as it is no longer popular in the document solutions market. MFPs are used in homes and offices (small offices to large enterprises) due to their vast applications in the field of document solutions. These MFPs are available in different sizes typically based on the print or photocopying requirement. For businesses, MFPs help to reduce capital costs and provide flexibility, as they eliminate the need for multiple devices and peripherals such as copiers, printers, and scanners in business environments.

The report covers the present scenario and the growth prospects of the global multi-functional printers market for 2017-2021. To calculate the market size, the report considers the MFPs used by the individual consumer, commercial and enterprise segments.

The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA

According to the report, one driver in market is decreasing cost of MFPs. The MFP vendors have formulated a sale strategy to reduce the initial procurement costs of the MFPs. The leading vendors have reduced their ASPs of MFPs year-over-year, mostly in favor of consumer end-user segments, making them affordable for home and very small office applications. This has resulted in the consumer segment having a 71.61% market share for unit shipment in the global MFPs market in 2016. Though the vendors face losses due to such low ASPs, the vendors realize their revenue through the sales of ink and toner cartridges. The vendors who adopt such a pricing strategy manufacture their MFP products in such a way that they are compatible only with the vendor's brand of ink refills. This is done by keeping a unique and specific viscosity of liquid ink and specific temperature and pressure in the case of melting dry ink toner to the paper.

Further, the report states that one challenge in market is increasing digitalization among the end-users. Technological advances in cloud-based solutions are affecting the MFPs market directly. With advances in cloud storage and solutions such as Google Drive and Dropbox have enabled the users to access the documents remotely with the use of smartphones, tablets, and notebooks. This directly reduces the requirement for printing for the end-user segments. The scanning functionality is now solved through apps-based solutions in the smartphones that use the smartphone camera to scan the documents and save them in a PDF format. Therefore, the consumer end-user segment's requirement for MFPs has diminished, affecting the largest end-user segment (in terms of unit shipment).

Global Multi-Functional Printers Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global multi-functional printers market: Canon, HP, Konica Minolta, KYOCERA Document Solution, RICOH, and Xerox.

Other Prominent Vendors in the market are: Brother International and Lexmark International.

Market driver
- Cost-driven end-users in emerging nations.
- For a full, detailed list, view our report

Market challenge
- Increasing digitalization among the end-users.
- For a full, detailed list, view our report

Market trend
- Increasing awareness of green business models among end-user segments.
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2021 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 70 pages and 53 Exhibits "Global Multi-Functional Printers Market 2017 - 2021" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by technology, Market segmentation by product, Market segmentation by end-user, Market segmentation by MFP functionality, Geographical segmentation, Key leading countries, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Appendix.

For more information Visit at: http://www.marketresearchreports.com/technavio/global-multi-functional-printers-market-2017-2021

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