Why 85% of Businesses Rent Their Copiers

The global copier market is transitioning from a traditional hardware sales model toward a service-oriented ecosystem centered on multifunction printers (MFPs) and integrated cloud technology. While often viewed as legacy equipment, the industry is projected to reach a valuation of USD 52.8 billion by 2030, growing at a compound annual growth rate (CAGR) of 2.0% from 2023 to 2030.

In 2022, the global market was valued at USD 45.2 billion. This growth is largely driven by the adoption of smarter, multifunction devices that integrate printing, scanning, and copying capabilities. In 2023, the MFP segment accounted for more than 65% of total copier market revenue.

Technical Integration and AI Adoption

Modern office equipment is increasingly incorporating software-driven features to reduce downtime and improve accessibility. In 2023, 35% of new copiers shipped featured cloud connectivity as a standard specification, and 42% of models supported mobile printing via Mopria or AirPrint.

Artificial intelligence is also entering the enterprise hardware space. AI-driven predictive maintenance was integrated into 28% of enterprise copiers launched in 2023, allowing businesses to address potential hardware failures before they cause operational disruptions.

Market Share and Global Shipments

The competitive landscape is led by several key players across different segments. Canon held 22.5% of the global copier market share by revenue in 2023. In the office MFP market, HP Inc. Led with a 24.1% share in the fourth quarter of 2023, while Ricoh captured 18.3% of the worldwide production print segment in 2023.

Global shipments totaled 5.8 million units in 2023, representing a 4% decline from 2022. However, the shift toward multifunctionality is evident in the shipment data: A4 MFP units reached 4.2 million in 2023, comprising 72% of all shipments. Production print systems accounted for 450,000 units globally in the same year.

The Shift Toward Leasing and Rental Models

Businesses are increasingly moving away from capital expenditures (CapEx) in favor of operational expenditures (OpEx) through leasing and rental agreements. This model allows companies to avoid large upfront investments and maintain access to updated technology.

Leasing typically involves a predictable monthly fee for a set term, often between three and five years. These agreements frequently bundle the machine, maintenance, and supplies into a single payment. For small businesses, lease costs typically range from $70 to $350 per month, with common terms spanning 36 to 60 months.

Industry data shows significant regional variations in adoption. In 2023, the Asia-Pacific region saw copier leasing rates increase by 15%, reaching 62% of all installations. In North America, market penetration reached 85 units per 1,000 businesses in 2023.

Common leasing structures include:

• Fair Market Value (FMV) leases
• Operating leases
• $1 Buyout or Capital leases

Operational Trends and Usage

Usage patterns are shifting as digitalization continues. The average annual pages per copier device in offices worldwide dropped to 12,500 in 2023. The reliance on monochrome printing is declining. in 2023, 68% of copier pages printed were monochrome, down from 75% in 2020.

The move toward rental and leasing is often motivated by the desire to avoid the rapid depreciation of hardware. As noted in industry analysis, leasing allows businesses to sidestep the hefty upfront cost of buying a new machine, freeing up cash for things that actually grow your business.

Beyond financial flexibility, rental agreements often provide a path to technology refreshes. This ensures that businesses can integrate newer features—such as high-speed scanning and secure printing—without the need to repurchase equipment every few years.