While the overall office equipment markets in NA and WE are mature, Keypoint Intelligence/InfoTrends expect continued growth in A4 Color Laser and Business Inkjet Segment 3 & 4 according to recently published SF Printer and MFP Hardware Forecasts for both regions. In addition, the shift from SF printers to multifunctional devices will continue. According to the forecast, in North America, SF Laser printers represented 45% of total shipments in 2018 and are expected to decline to 40% of devices compared with MF shipments which will grow from 55% to 60% by 2023. While in Western Europe MF shipments will grow from 56% to 58% of total shipments during the same period.
In addition, total NA office color laser shipments are also expected to outperform monochrome devices during the same period growing from 35% of total shipments to 40% by 2023. While in Western Europe, office color laser is expected to grow from 40% of total shipments to 41% during the same period. While the overall market for both regions will remain relatively flat to a slight decline the shift from SF to MF devices and from monochrome to color will continue to impact the overall office equipment market. The biggest opportunity for growth is within the office color laser A4 segments (3-4) for both regions. In North America A4 Color MF devices are forecasted to grow at a 6.8% CAGR through 2023.
In addition to the growth in A4 color laser MFPs, Keypoint Intelligence/InfoTrends forecast shows growth in Business Inkjet Segments 3 and 4 through the same period. Business Inkjet Segment 3 is expected to grow at 6% CAGR in North America and 2.3% CAGR in Western Europe. The majority of unit growth will be in A4 MFPs in this business inkjet segment with new models that offer longer life consumables and feature-rich product offerings. This new breed of inkjet devices offers an attractive alternative to laser particularly within the SMB office environment with standard wireless connectivity, high yield consumables and in some cases, comparable cost per page to laser. Furthermore, Inkjet Segment 4 is expected to grow at 9.7 CAGR in North America and 6.2% CAGR by 2023 in Western Europe during the same period, driven by a wider acceptance of page-wide ink technology and new robust high-speed color inkjet devices entering this market segment.
While the North America & Western Europe Laser market is a mature market there are pockets of growth opportunity as color, MF and A4 devices continue to replace traditional A3 type engines in the office. Additionally, the shift to A4 printer-based MFPs will continue as these products move upstream and disrupt traditional A3 markets. Furthermore, Business Ink, particularly high-end serial and page-wide will continue to play an even greater role in the SMB market. A more detailed overview of the North America and Western Europe Placements, ASP and Hardware Revenue Forecast from 2018-2023 can be found at the following link below.
https://client.keypointintelligence.com/bliQ/InfoCenter
