'We're really trying to expand our reach in the market. This new technology raises the bar for us in terms of performance for the entire industry, especially for the high-volume printing market for varying applications.'

SPT, however, is not set to replace HP's previous ink-based print technologies used in a large number of printer models, added Nacario.

'Instead, SPT will come as a value-added feature in HP's current offering and will not result in any increase in pricing.'

The new technology platform is a result of a US$1.4 billion investment and over five years of research and development aimed at strengthening HP's position in the consumer market.

Although digital printing market share is currently estimated to be at a mere 5 percent worldwide, the company expects it to grow in the future as more users across the globe are moving from analog to digital.