Regional Players Constitute ~50% of Competition Despite the Presence of ~100 Competitors Comprising Global and Country-Niche Players, finds a recent market study on the Global Printer Market by Ken Research
A printer is an electronic device that is used to print any document in hardcopy format, which is often used in residential, commercial, educational institutes, enterprises, government offices, and more. With the launch of the latest multi-functional printers, the single printer device is now able to perform a variety of tasks which include printing, photostatic copies, scanning, and Fax/telefax which is highly cost-effective for the users.
Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.
- Regional Players Constitute ~50% of the Total Number of Competitors While Global Players Represent ~15%.
A comprehensive competitive analysis conducted during the Research Study found that the Global Printer Market is competitive with ~100 players, which include globally diversified players, regional players as well as a large number of country-niche players having their niche in the Printer market for specific segments and sub-segments. The regional players comprise ~50% and country-niche players comprise ~35% of competitors.
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- The Rapid Investments in R&D and Continue Advancements in Cloud-Based Printing are Creating New Opportunities for the Global Printer Market.
Detailed comparative analysis of key competitors available within The Research Study shows that specialist players such as Brother Industries, HP Development Company, L.P, Konica Minolta Inc., Kyocera Corp., Lexmark International Inc., and more are providing Multifunctional Printer with Cloud-based Printing technology for various application purposes from commercial, residential, educational institutes as well as in Government Offices. Cloud-based Printing means users are able to print the document from any device at any place, as those devices and printers have to be connected to the internet.
- In February 2020, Lexmark International Inc. launched a Cloud-based printing management solution in the market, the cloud-based technology helped Lexmark to reduce costs and provide an effortless and secure printing method for their customers.
- In April 2021, HP Development Company L.P. launched its cloud-based printing solution called HP+, which offers high productivity and enhanced security to deal with any unauthorized users on the cloud-based network.
- Increased Government Initiatives in the Global Printer Market are creating new opportunities for the Companies in the Market
- In February 2022, the government of India released a strategy for 3D printing, according to the Ministry of Electronics and Information Technology (MEITY) of India this strategy will help India to become the global hub for design, development, and deployment in 3D printing.
- In July 2022, the National Institute of Standards and Technology (NIST) which is a physical sciences laboratory and a non-regulatory agency of the United States department of commerce, provides USD 3.7 million in support for the manufacturing small and medium-sized enterprises (SMEs) for promoting additive manufacturing also known as 3D Printing.
For more information on the research report, refer to the below link:
Global Printer Market Size, Segments, Outlook, and Revenue Forecast 2022-2028: Ken Research
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