Office Multifunction Devices Market Highly Favorable to the Growth Rate by 2025

Office Multifunction Devices Market: Introduction

Office Multifunction Devices play key role in managing documents in a variety of sectors, including healthcare, education, and the government. These products are also integral components of home offices and corporations, conveniently allowing users to print and photocopy documents from single device.

The supply chain and production process of Office Multifunction Devices is global and rely on a combination of in-house and outsourced production to electronic manufacturing services. Generally, developed markets such as the North America, and Western Europe are engaged in high-value-added activities such as R&D and consumables production, which require a skilled labor force. Conversely, majority of MFP manufacturing a labor intensive process occurs in Asia and Latin America, due to the relatively low cost of labor in these regions.

Office Multifunction Devices Market: Drivers and Challenges

Two of the emerging drivers for Office Multifunction Devices Market include international compliance with environmental regulations, and increasing availability of managed print services (MPS). Former development has affected parts procurement, and led OEMs to create products that consume less energy and reduce industry’s carbon footprint. OEMs are also promoting the latter to increase revenues in response to business retrenchments in hardware spending.

One of the restraint for Office Multifunction Devices market is that the cost of these products is more than an individual can afford, and the prices for the refills and spares also counts up to be more.

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Office Multifunction Devices Market: Segmentation

Office Multifunction Devices Market can be broadly categorized by type and by vertical.

On the basis of type, Office Multifunction Devices Market can be segmented into following;

Print-centric Office Multifunction Devices
Photocopy machines
The former typically have low printing speeds, offer modest copying capabilities, cater to much smaller workgroups, and are mostly low-to mid-end devices. Conversely, photocopy machines are intended for multiple users at a time, deliver high-speed printing and scanning functionality, and are most commonly middle-to high-end Office Multifunction Devices.

On the basis of Vertical the Office Multifunction Devices can be segmented in following;

Healthcare
Government
Finance and Education
Telecommunication
Retail and Manufacturing
Others
Office Multifunction Devices Market: Key Players

Some of the key players of Office Multifunction Devices Market are: HP Inc., Canon, Epson, Brother, Samsung Electronics, Ricoh, Fuji Xerox, Dell Inc., Lexmark, Oki etc.

In September 2016, HP Inc. inked a deal for the acquisition of Samsung Electronics Printing business who was a premium manufacturer of multifunctional devices for offices. By focusing on multifunction printers and more deeply embedding mobile and cloud printing technologies to its product solutions HP Inc. wants to become a qualitative and quantitative leader in the industry.

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