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Global MFP market set to grow

Global MFP market set to grow

January 19, 2016

ricoh mfpMarket data from analysts suggests that the market can expect 2.15 percent annual growth between 2016 and 2020.

Analysts Sandler Research produced the report, Global Multi-Function Printer Market 2016-2020, which outlines a compound annual growth rate (CAGR) of 2.15 percent for the global MFP market between 2016 and 2020. The analysts noted that MFP manufacturers are trying to “constantly innovate to reduce the total cost of ownership”, and are aiming to “capitalise on market growth in emerging nations and expand their market shares in the developed countries”.

Additionally, OEMs are said to be using “new power management and print technologies to create novel products that are in high demand”, with the analysts adding that laser printers, said to be “more efficient” than inkjet printers, are being and have been “adopted on a large scale worldwide”. A lack of support services in emerging markets however “hinders the market growth”, and key OEMs outlined include Brother, Canon, Epson, HP and Samsung.

Other “prominent” OEMs include: Lexmark; Panasonic; Dell; Oki Data; Ricoh; Xerox; Kyocera; Kodak; Konica Minolta; Olivetti; Sharp; Toshiba; Sindoh; and UTAX. Sandler Research also pointed out that the study utilised an “objective” combination of primary and secondary information, using total MFP shipments and revenue generated by OEMs to calculate the market’s size, with three regions – the Americas, APAC (Asia-Pacific) and EMEA (Europe, Middle East and Africa).

A key market driver is set to be “rising expenditure on R&D and marketing”, while a key challenge is said to be the “shift towards [a] paperless society”, and an important trend is the “cost-driven end-users in emerging nations”.

Sandler Research commented: “The growing market for MFPs in emerging nations needs to meet the needs of cost-driven customers. In India and China, customers prefer cost-effective products above all else. Vendors are thus expected to develop products based on this fact. Emerging nations have different climatic conditions and infrastructure, and make extensive usage of printers and related materials.”

Categories : City News

Tags : Market Data MFPs Printers

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