The corporate sector's rising need for multifunctional copiers is a key factor driving the worldwide copier market. Multifunctional copiers are becoming more and more commonplace in businesses due to their capacity to save costs, increase workflow effectiveness, and expedite document management procedures. Copiers are increasing including wireless connectivity options including WiFi, Bluetooth, and NFC, which is boosting the market's expansion. Additionally, as digital printing technology becomes more widely used, the need for colour copiers rises in developing nations since these machines can produce high-quality prints at a lesser price than conventional offset printing techniques.
With a variety of copiers available to suit various purposes, the global copier market meets a wide range of needs. Colour copiers are utilised for high-quality colour printouts, whereas monochrome copiers are used for printing in black and white. Various copier models can be used in a variety of settings, including workplaces, retail establishments, government buildings, and schools. The need for copiers is projected to rise along with the demand for high-quality prints in these industries.
The fact that the copier market offers cost savings over conventional printing techniques is one of its main benefits. Copiers can produce high-quality prints for less money than offset printing techniques, which allows businesses and organisations to save a lot of money. Copiers also provide flexibility and convenience because they make it simple and quick to print papers.
Additionally, copiers frequently have modern features like an automated document feeder (ADF) and duplex printing capabilities that increase their efficiency. Another important element propelling the market's expansion is the rising demand for multifunctional copiers.
A copier is a tool for printing pictures and papers. It is frequently used in workplaces, educational institutions, governmental organisations, and other locations where a lot of documents need to be printed swiftly and conveniently.
Depending on the kind of copier being utilised, copiers can create either monochrome or colour prints. Additionally, most copiers today come with cutting-edge capabilities like duplex printing and automatic document feeders (ADF).
The growing demand for multifunctional copiers, expanding use of digital printing technology, and rising demand for colour copiers in developing nations are anticipated to boost the worldwide copier market. The copier market is a large and diverse marketplace, with a variety of different manufacturers and copier types available for purchase. There are copiers that are designed for home or office use, as well as commercial-grade copiers that are designed for large businesses. Copiers also vary in terms of features and capabilities, such as the speed and quality of copying, the type of toner used, and the availability of additional features such as scanning, faxing, and networking. Prices for copiers range from a few hundred dollars for a basic home model to several thousand dollars for a commercial-grade copier.
The global Copier Market size was valued at USD 678.0 million in 2021 and is expected to expand at a CAGR of 0.7% during the forecast period, reaching USD 707.0 million by 2031.
The high price of these machines, as most copiers are pricey, is one of the major reasons limiting growth in the worldwide copier market. In addition, many firms and organisations might not have the money to buy these gadgets. Additionally, due to security concerns, certain nations might place limitations on the import and export of copiers.
Canon Inc., Hewlett-Packard (HP), Ricoh Company Ltd., Xerox Corporation, Konica Minolta, Kyocera Document Solutions, Inc., Toshiba Tec Corporation, Sharp Corporation, and Brother Industries Ltd. are the major participants in the global copier market. These businesses provide a wide variety of products to meet various demands and purposes. Additionally, they keep improving their products to suit the rising demand for prints of higher quality.
Colour Copiers segment form major portion of the market
The category for colour copiers is anticipated to develop at the fastest rate over the projection period. Due to its ability to produce high-quality prints at a lesser cost than conventional offset printing methods, colour copiers are in more demand as a result of the growing adoption of digital printing technology in developing nations. Additionally, a lot of companies are switching to multifunctional copiers because they come with cutting-edge features like duplex printing and automatic document feeders (ADF).
North America to dominate the market
From 2021 to 2031, it is anticipated that North America would hold the largest market share in terms of revenue. Furthermore, demand for copiers with advanced features like an automated document feeder (ADF) and duplex printing capabilities has increased in this region as a result of the growing uptake of digital printing technology. During the projected period, the Asia Pacific region is anticipated to experience robust expansion as more emerging nations adopt digital printing technology.
Office segment to be on top of the market
The office sector is anticipated to increase at the fastest rate during the projection period. The rise in popularity of copiers with advanced features like automated document feeders (ADF) and duplex printing capabilities can be blamed for this. Additionally, because of their affordability and user-friendliness, multifunctional copiers are becoming more and more popular in offices. Due to the increasing demand for colour copiers in these establishments, the retail store category is also anticipated to experience a robust increase.
Covid-19 Impact & Market Status
As many businesses and organisations switch from traditional to digital printing techniques, the Covid-19 epidemic has had a huge impact on the worldwide copier market. This has raised the demand for multifunctional copiers. Additionally, the popularity of work-from-home models has raised the demand for office supplies like copiers. As a result, an increase in copier demand is anticipated in the upcoming years. Additionally, the worldwide copier market is anticipated to bounce back and have positive development in 2021 as nations gradually open up their economies.
Latest Innovations in the Global Copier Market: A Snapshot
The development of smart office solutions, which can offer a streamlined and effective workflow, is one of the latest advances in the worldwide copier market. These technologies give businesses access to their data from any place and device.
Additionally, some businesses are releasing cloud-enabled copiers that can link to numerous devices for increased productivity. ADF, duplex printing, and energy-saving modes are just a few of the innovative features that several manufacturers are adding to their environmentally friendly copiers.
Copier Market Scope
|Revenue forecast in 2031
|USD 707.0 million
|CAGR of 0.7% during 2021-2031
|by Type, By Application, End User, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Canon Inc., Hewlett-Packard (HP), Ricoh Company Ltd., Xerox Corporation, Konica Minolta, Kyocera Document Solutions, Inc., Toshiba Tec Corporation, Sharp Corporation, and Brother Industries Ltd.
Key Segments of the Copier Market Market
• Monochrome Copiers
• Color Copiers
By Application Overview, 2021-2031 (USD Billion)
• Retail Store
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and Africa