Multi-Function Printer Trends and Forecast
The future of the global multi-function printer market looks promising with opportunities in the led multi-function printer, laser multi-function printer, and inkjet multi-function printer markets. The global multi-function printer market is expected to grow with a CAGR of 4.1% from 2025 to 2031. The major drivers for this market are rising usage of digital best practices by the healthcare sector to improve their service delivery and growing need for combining mobility and document solutions.
• Lucintel forecasts that, within the product category, monochrome multi-function printer is expected to witness higher growth over the forecast period.
• Within the technology category, laser multi-function printer will remain the largest segment.
• In terms of regions, North America is expected to witness highest growth over the forecast period.
Gain valuable insights for your business decisions with our comprehensive 150+ page report.
Emerging Trends in the Multi-Function Printer Market
Many emerging trends in the multi-function printer market reflect advancements in technology and changing user expectations. Understanding how these markets are developing and what trends may evolve from them is necessary. Here are five leading trends in MFPs.
• Cloud Integration: Users are enabled with the flexible option to access and print documents from any location using cloud-based printing solutions. This support for remote work not only facilitates access but also fosters productive collaboration, making workflows smoother, especially for companies distributed across different cities or regions.
• Sustainability Initiatives: There is increased concern about eco-friendly designs, as manufacturers strive to reduce their ecological impact. Many of these designs also involve the use of recycled materials, energy-efficient technologies, and waste reduction, which appeal to consumers whose purchasing decisions are influenced by sustainability.
• Integrated AI and Automation: MFPs have integrated AI and automation, making the overall process more efficient by automatically sorting documents and performing predictive maintenance. Businesses experience improvements in productivity due to reduced manual work and more streamlined printing processes in modern workflows.
• Strong Security Features: With data breaches at an all-time high, devices such as MFPs with strong security features are in high demand. For example, encryption, user authentication, and other secure print options should be included in MFPs to protect sensitive data handled by different sectors.
• Mobile Printing Solutions: With more mobile workers than ever before, the demand for MFPs that support mobile printing is growing. Today, mobile printing applications developed by manufacturers enable easy access to printing directly from a smartphone or tablet, eliminating hassle and increasing convenience, adaptability, and effectiveness in various work environments.
These emerging trends are fundamentally changing the multi-function printer market, fostering innovation and aligning products with user needs. MFPs are evolving to meet the business priorities of efficiency, security, and sustainability. The inclination towards advanced technologies and green practices has become a new benchmark in modern workplaces through printing solutions.
Recent Developments in the Multi-Function Printer Market
Recent developments in the multi-function printer market focus on improving functionality, efficiency, and user experience. As companies respond to changing client needs, several key enhancements are underway within the MFP landscape. Here are five significant trends influencing the market.
• Integration of IoT: The latest trend is the inclusion of IoT capabilities by manufacturers in MFPs. This primarily enhances real-time monitoring and predictive maintenance, reducing time spent on these activities. It improves the ability to respond to issues when they arise, ensuring business continuity. This is critical as it increases operational efficiency while keeping printing operations running smoothly.
• Enhanced Usability: Recently, touchscreens and user interface designs have become trendy. These enhancements make navigation simpler, making MFPs easier for all users, regardless of proficiency. This reduces training time and increases overall productivity.
• Focus on Energy Efficiency: New MFP designs aim to conserve energy by reducing energy usage. This lowers running costs while addressing the growing demand for sustainable office solutions, appealing to environmentally conscious consumers who want to reduce their carbon footprint.
• Cloud Printing Solutions: Cloud-based printing has streamlined business operations. It connects to a remote server and facilitates central document management, improving teamwork and collaboration while making MFPs indispensable in the modern workplace.
• Advanced Cybersecurity Measures: To combat increasingly sophisticated cyberattacks, MFPs have developed advanced security features like user authentication and secure print release. These features are especially needed in industries dealing with sensitive information, such as healthcare and finance.
These key developments not only open the path for improved operational efficiency, user experience, and security but also reshape the MFP market. The growing demand for business transformation and innovative technology solutions is making MFPs more flexible and indispensable. This evolution not only captures existing needs but also sets the stage for future industry developments.
Strategic Growth Opportunities in the Multi-Function Printer Market
In the multi-function printer market, with premium technology assuming more central roles and shifts in consumer needs, the scope for growth is immense, with different applications. In industries where digitization and modernization are unabatedly advancing, the demand for efficient multifunctional devices has also increased rapidly. To seize the market opportunity, stakeholders must explore these opportunities by analyzing current market demands.
• Education Sector: MFPs designed specifically for schools and universities will be in high demand due to the widespread digitalization of education. High-speed printing capabilities and effortless document handling will be in great demand by schools and universities, as these institutions adopt a hybrid learning environment, increasing student participation.
• Health Care: The health sector will need efficient management systems to handle documentation and administrative work. This industry will be critical for MFPs that come with state-of-the-art security features and meet HIPAA standards, providing secure and reliable solutions for sensitive data handling.
• Remote Work Solutions: As remote work becomes inevitable, many companies will establish permanent home offices. Thus, MFPs for home offices will flourish as firms seek mobile printing and space-saving designs with multifunctional devices. The increased demand will be sensitive to devices that offer convenience and functionality for remote employees.
• Environmentally Friendly MFPs: In response to responsible business practices, organizations are increasingly focusing on environmentally friendly MFPs that minimize waste and conserve energy. The demand for eco-friendly solutions is growing, as adopting sustainable practices may help capture a significant segment of environmentally conscious customers who want their actions to contribute to achieving an organization’s sustainability goals.
• Cloud-based Document Management: Digital workflows emphasize the need for more integrated MFP solutions to leverage cloud-based capabilities. Solutions that allow easy storage, retrieval, and sharing of documents based on cloud offerings will have a major impact on improving productivity and collaboration across teams. These features are becoming an absolute requirement in modern workplaces.
From a strategic perspective of product growth, such opportunities seem highly promising for the multi-function printer market. By aligning products strategically in response to changes in trends and emerging consumer demand, manufacturers will be able to capture this opportunity and further enhance their growth prospects in the industry. This not only satisfies immediate market requirements but also prepares companies for the long term in such an uncertain market.
Multi-Function Printer Market Driver and Challenges
The multi-function printer market is influenced by various factors, including technological, economic, and regulatory considerations. For stakeholders to navigate the competitive landscape of the printing industry, it is essential to understand these factors. Key drivers spur market growth, while challenges can threaten competitiveness and profitability.
The factors responsible for driving the multi-function printer market include:
• Technological Developments: Rapid developments in printing technologies have increased the functionalities of MFPs. Wireless connectivity, mobile printing, and automation enhance efficiency and convenience. This increases their demand among businesses seeking multifunctional devices to streamline operations and save costs.
• Remote Work Adoption: The surge in remote work has fast-tracked demand for flexible multifunctional printers. Organizations need solutions that are scalable to support remote work setups, making it easier for employees to print, scan, and manage documents from any location, thereby increasing overall productivity.
• Growing Demand for Automation: Companies are increasingly seeking automation to optimize workflow processes. MFPs with AI and machine learning capabilities can reduce the need for manual tasks and enhance document management, allowing organizations to allocate resources more efficiently and focus on core activities.
• Focus on Sustainability: The rise in sustainability awareness will increase the demand for green MFPs. This demand will be supported by sustainable materials and energy-efficient technologies developed by organizations, resonating with environmentally conscious customers and helping businesses meet their sustainability goals.
Challenges in the multi-function printer market are:
• Extreme Competition: Due to the large number of players in the market, there is stiff competition in the MFP market. Although competition is beneficial, it can lead to price wars and relatively low profit margins. Companies need to be innovative and differentiate their products to outperform competitors and succeed in the marketplace.
• Market Saturation: Certain areas are becoming saturated, making it harder for manufacturing companies to introduce new products in these regions. Companies need to be unique by launching new features or engaging in intensive marketing practices to attract and retain customers.
The forces and challenges above have the highest influence on the multi-function printer market. While technological change and the evolving nature of work provide growth opportunities, aggressive competition and uncertain economic conditions pose significant challenges. Therefore, stakeholders must strategically leverage these drivers while navigating challenges to remain competitive and responsive to market demands, thereby shaping the future of the MFP market.
List of Multi-Function Printer Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. Through these strategies multi-function printer companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the multi-function printer companies profiled in this report include-
• KYOCERA Corporation
• Hewlett Packard
• Eastman Kodak company
• Dell
• Brother Industries
• Ricoh Company
• Canon
Multi-Function Printer by Segment
The study includes a forecast for the global multi-function printer by product, technology, and region.
Multi-Function Printer Market by Product [Analysis by Value from 2019 to 2031]:
• Color Multi-functional Printers
• Monochrome Multi-functional Printers
Multi-Function Printer Market by Technology [Analysis by Value from 2019 to 2031]:
• LED Multi-function Printers
• Laser Multi- function Printers
• Inkjet Multi-function Printers
Multi-Function Printer Market by Region [Analysis by Value from 2019 to 2031]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
Country Wise Outlook for the Multi-Function Printer Market
The multi-function printer market has witnessed strong growth due to innovations in technology and consumer demands. As remote and hybrid work models become increasingly popular, efficient devices that fulfill multiple tasks are gaining importance. This is strongly reflected in major markets such as the United States, China, Germany, India, and Japan, where companies are focusing on connectivity, sustainability, and enhanced security features.
• United States: The use of cloud-based printing solutions is widespread in the U.S. to achieve seamless integration with remote work setups. Many companies have started adding AI features to their products to enable smarter document management and a more comfortable user experience. The growing appeal of sustainability is also evident, with most manufacturers using eco-friendly materials and energy-efficient technologies in their MFP offerings.
• China: The Chinese MFP market is rapidly shifting towards smart technology and automation. Major manufacturers have also embedded IoT capabilities, enabling real-time monitoring of the setup and streamlining the printing process. There is also increased demand for local production to reduce costs, shorten the supply chain, and efficiently boost the local supply chain, which aligns with rising consumer demand for energy-efficient models.
• Germany: The MFP market in Germany is largely based on the principles of Industry 4.0. Advanced analytics and smart technology are being embedded into the devices of manufacturers to ensure efficient operation. Sustainability is a key focus, with circular economy practices being welcomed by companies, while features that provide maximum cybersecurity are emphasized to protect sensitive corporate data in various sectors.
• India: The Indian MFP market is growing steadily, driven mainly by the needs of SMEs and educational institutes. Trends are accelerating, with affordable pricing and high functionality being key priorities. Manufacturers are providing cost-effective solutions. Mobile printing innovation, with user-friendly interfaces, has become the norm in line with India’s broader digital transformation strategy.
• Japan: New robotics and automation technologies have fueled growth in Japan’s MFP sector. Features like high-speed printing and automatic document feeding dominate functions that enhance productivity in local companies. The development of compact, multi-functional designs has allowed companies with space constraints to benefit. Sustainability remains a central agenda in line with national green technology policies.
Features of the Global Multi-Function Printer Market
Market Size Estimates: Multi-function printer market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2019 to 2024) and forecast (2025 to 2031) by various segments and regions.
Segmentation Analysis: Multi-function printer market size by product, technology, and region in terms of value ($B).
Regional Analysis: Multi-function printer market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different products, technologies, and regions for the multi-function printer market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the multi-function printer market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
If you are looking to expand your business in this market or adjacent markets, then contact us. We have done hundreds of strategic consulting projects in market entry, opportunity screening, due diligence, supply chain analysis, M & A, and more.
FAQ
Q1. What is the growth forecast for multi-function printer market?
Answer: The global multi-function printer market is expected to grow with a CAGR of 4.1% from 2025 to 2031.
Q2. What are the major drivers influencing the growth of the multi-function printer market?
Answer: The major drivers for this market are rising usage of digital best practices by the healthcare sector to improve their service delivery and growing need for combining mobility and document solutions.
Q3. What are the major segments for multi-function printer market?
Answer: The future of the multi-function printer market looks promising with opportunities in the led multi-function printer, laser multi-function printer, and inkjet multi-function printer markets.
Q4. Who are the key multi-function printer market companies?
Answer: Some of the key multi-function printer companies are as follows:
• KYOCERA Corporation
• Hewlett Packard
• Eastman Kodak company
• Dell
• Brother Industries
• Ricoh Company
• Canon
Q5. Which multi-function printer market segment will be the largest in future?
Answer: Lucintel forecasts that monochrome multi-function printer is expected to witness higher growth over the forecast period.
Q6. In multi-function printer market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness highest growth over the forecast period.
Q.7 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the multi-function printer market by product (color multi-functional printer and monochrome multi-functional printer), technology (led multi-function printer, laser multi- function printer, and inkjet multi-function printer), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Multi-Function Printer Market, Multi-Function Printer Market Size, Multi-Function Printer Market Growth, Multi-Function Printer Market Analysis, Multi-Function Printer Market Report, Multi-Function Printer Market Share, Multi-Function Printer Market Trends, Multi-Function Printer Market Forecast, Multi-Function Printer Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.