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Security and wireless markets growing

Security and wireless markets growing

April 5, 2017

The global MFP security market is set to grow at a compound annual growth rate (CAGR) of 9.73 percent to 2020, while the wireless printer industry is set to grow 3.8 percent during the same period.

Military Technologies reported that the global MFP security market is to “grow at a CAGR of 9.37 percent during the period 2016-2020”, and that top players in this industry are Brother International, Canon, HP Enterprise, Xerox and Ricoh, and other leading vendors include Arc Document Solutions and Epson.

Based on geography, the market is divided into three segments – Americas, APAC and EMEA – and the driving factors of this market are the use of eco-friendly printing services and challenges that face key vendors that hold back the industry, as well as a “shift towards a paperless society”, rising trends in the market and a growing demand from industry verticals.

The biggest market driver is the rise in internet use, and the biggest challenge is said to be the “emergence of digital substitution”, and the market trend appears to be an increase in the demand for colour prints.

Multi-function Printer Security Market Driving Factors, Industry Analysis, Investment Feasibility and Trends with Key Manufacturers (Canon, Xerox, Ricoh) Forecast to 2021

The same site reported that the wireless printer industry was set to grow at a CAGR of 3.8 percent during the same periodm and that the key vendors were Brother Industries, Canon, HP Inc and Seiko Epson as well as Kyocera, Lexmark and Ricoh. Again the market was said to be driven by the rise in internet use and challenged by digital substitution, with a trend in the market for an increase in demand for colour prints.

 

Categories : City News

Tags : Market Data MFPs Security

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