Multifunction and Photo Printing Are the Name of the Game in 2004 Ink Jet Market

Global Lyra Research: There was a marked shift away from single-function, general-purpose ink jet printers toward ink jet multifunction peripherals (MFPs) in 2004. We estimate that worldwide shipments of ink jet MFPs grew approximately 52 percent in 2004, the highest annual growth rate in the consumer hard copy hardware segment. At the same time, at-home photo printing contributed to the growth of the ink jet market as consumers continued to adopt digital photography. Ink jet MFPs are popular with consumers because they provide additional functionality for a negligibly higher cost. The growing number of consumers embracing digital photography has ink jet printer vendors rushing to add photo-printing features to both single- and multifunction ink jet products, as well as releasing a slew of ink jet printers designed specifically for printing photos in the home. The Hard Copy Observer Spotlight: 2004 Ink Jet Printer Market Publ 20050523