Office Equipment Market Insights
The global office equipment market is subjected to high fluctuation in terms of demand and is highly impacted by the U.S economy. Many of the European and Latin American countries also play a crucial role in deciding the demand of office equipment. Annual depreciation charges for the machinery used to manufacture the office equipment have high impact on the players in the global office equipment market. A large customer category for the office equipment are the major financial institutions and small and mid-sized businesses along with government institutions. The global office equipment market is expected at a CAGR of 4.8% during the forecast period, 2018 – 2023.
Office Equipment Market Dynamics
The key growth strategy for product developers in the global office equipment market is the launch of developed and technologically enhanced models. Introduction of new printers which improve the color output at a lower per-unit cost, and increased functionality have been gaining consumer preference. Increase in research and development expenditures is expected to drive the global office equipment market. Geographic expansion is one of those key growth strategies adopted by all the large players to gain market share which aids to gain higher revenues in the office equipment market. Growth of tertiary sector in Asia-Pacific with expansion of multinational companies is expected to create considerable opportunity for the office equipment and supplies market.
Stringent regulations set by the U.S and European Union on energy efficient and labelling of the office equipment is expected to hinder the growth rate during the forecast period.
Office Equipment Market Segmentation
Changing customer preferences, tightening regulation, increased mobility, and technological changes are reshaping the printing segment in the office equipment market. In 2017, the printing market was dominated by players such as HP, Xerox and Lexmark International holding a majority share on their traditional print business while vendors such as Konica Minolta, Ricoh and Sharp continued to expand their research capabilities for product innovation. This has also led to growth of photocopiers to hold majority share in 2017.
Printers and Scanners are the fastest growing segment in the global office equipment market. High adoption in the manufacturing, healthcare and banking sectors is the key factor leading to the rise in demand.
Office Equipment Market - Regional Segmentation
United States held a majority market share in the North America office equipment market in 2017. Asia-Pacific witnessed the highest growth rate where Japan being one of the leading producers of the office equipment such as printers, scanners gained high revenues through imports to North America and European region. The growth of the SME’s business segment in the Asia-Pacific and South America regions is expected to boost the demand for office equipment. India have witnessed a considerable growth in the office and supplies market with the expansion of service sector over the recent past, primarily through influx and expansion of various multinational companies.
Office Equipment Market Competitive Landscape
The global office equipment market is highly dominated by the global players such as Xerox Corporation, Canon Inc., and HP among others. Wide distribution network and easy availability of these well established brands facilitate the major plyers with high revenues and considerable market share. Expansions being the most adopted strategies, the market is highly competitive with the presence of global and regional players.
Major Players: Canon Inc., Xerox Corporation, Fabricated Software, Inc., HP Development Company, L.P., Pitney Bowes Inc., FUJIFILM Holdings Corporation, Panasonic Corporation, Brother International Corporation, voxeljet AG and Ricoh Company Ltd. among others
Office Equipment Market Key Developments
- January, 2018: Fujifilm to take over Xerox as photocopier demand drops. Global demand for copiers and printers has declined, as people have switched to emailing documents and using smartphones to scan paperwork.
Office Equipment Market - Reasons to Purchase this Report
- Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
- Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
- Global, regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
- Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players
- 3 months analyst support along with the Market Estimate sheet in excel.
Office Equipment Market - Customization of the Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
1.1 Scope of the Office Equipment Market
1.2 Study Assumptions
1.3 Research Phases
1.4 Study Deliverables
2. Office Equipment Market Insights
2.1 Office Equipment Market Overview
2.2 Office Equipment Market Trends
2.3 Industry Attractiveness - Porter's Five Force Analysis
2.3.1 Degree of Competitive Rivalry
2.3.2 Threat of Substitutes
2.3.3 Threat of New Entrants
2.3.4 Bargaining Power of Buyers
2.3.5 Bargaining Power of Suppliers
3. Office Equipment Market Dynamics
3.1 Office Equipment Market Drivers
3.2 Office Equipment Market Restraints
3.3 Office Equipment Market Opportunities
4. Office Equipment Market Segmentation
4.1 By Type
4.1.2 Printers and Scanners
4.1.3 Fax Machines
4.1.4 Coin and Currency Counting Devices
4.2 By Distribution Channel
4.2.1 Online Channel
4.2.2 Offline Channel
5. Office Equipment Market - Regional Analysis
5.1 North America Office Equipment Market Size (2018-2023)
5.1.1 United States Office Equipment Market Size (2018-2023)
5.1.2 Canada Office Equipment Market Size (2018-2023)
5.1.3 Mexico Office Equipment Market Size (2018-2023)
5.1.4 Rest of North America Office Equipment Market Size (2018-2023)
5.2 Europe Office Equipment Market Size (2018-2023)
5.2.1 Germany Office Equipment Market Size (2018-2023)
5.2.2 United Kingdom Office Equipment Market Size (2018-2023)
5.2.3 France Office Equipment Market Size (2018-2023)
5.2.4 Spain Office Equipment Market Size (2018-2023)
5.2.5 Italy Office Equipment Market Size (2018-2023)
5.2.6 Russia Office Equipment Market Size (2018-2023)
5.2.7 Rest of Europe Office Equipment Market Size (2018-2023)
5.3 Asia-Pacific Office Equipment Market Size (2018-2023)
5.3.1 China Office Equipment Market Size (2018-2023)
5.3.2 Japan Office Equipment Market Size (2018-2023)
5.3.3 India Office Equipment Market Size (2018-2023)
5.3.4 Australia Office Equipment Market Size (2018-2023)
5.3.5 Rest of Asia-Pacific Office Equipment Market Size (2018-2023)
5.4 South America Office Equipment Market Size (2018-2023)
5.4.1 Brazil Office Equipment Market Size (2018-2023)
5.4.2 Argentina Office Equipment Market Size (2018-2023)
5.4.3 Rest of South America Office Equipment Market Size (2018-2023)
5.5 Middle East and Africa Office Equipment Market Size (2018-2023)
5.5.1 UAE Office Equipment Market Size (2018-2023)
5.5.2 South Africa Office Equipment Market Size (2018-2023)
5.5.3 Rest of MEA Office Equipment Market Size (2018-2023)
6. Office Equipment Market- Competitive Landscape
6.1 Most Active Companies
6.2 Key Strategies Adopted
6.3 Office Equipment Market Share Analysis
7. Office Equipment Market- Company Profiles
7.1 FUJIFILM Holdings Corporation
7.2 Canon Inc.
7.3 Xerox Corporation
7.4 HP Development Company, L.P.
7.5 Pitney Bowes Inc.
7.6 Voxeljet AG
7.7 Ricoh Company Ltd.
7.8 Panasonic Corporation
7.9 Brother International Corporation
7.10 Fabricated Software, Inc.
#list isn't exhaustive