Shift Towards Paperless Society Posing Challenges To Global Multi-Function Printer Security Market Growth

The Report titled “Global Multi-Function Printer Security Market 2016-2020” delves into the current scenario and growth prospects of the global multi-function printer security market from the period between 2016 and 2020. Based on the report, the global multi-function printer security market is expected to expand at a CAGR of 9.37% from 2016 to 2020.

The constant evolution of communication technology and automation has ushered in welcome changes in the printing mechanism through software-driven, multi-function printers. This has solved enterprises’ growing need for managing printing of ever-increasing volumes of official documents, to a large extent, by providing a complete document solution, including document management. However, data or information loss owing to misuse or misplacement of data processed through printers, still continues to cost small, medium, and large enterprises. Hence, the demand for printer security solutions has grown in tandem with the demand for multi-function printers.

The global multi-function printer security market can be segmented into two, depending on the two types of security provided. One is managed security services and the other is in-built security. In managed security services, the task of monitoring printer services through data encryption, document management, and print access control is outsourced to a third party. In in-built security, the multi-function printer already has a security system in place. Of the two, the segment of managed security services has seen rapid adoption by enterprises in the recent past as it is much easier to utilize the services of a vendor. This growth is slated to continue in the upcoming years too, despite challenges such as a shift towards a paperless society.

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The report provides an insightful picture into the market of printers worldwide. It then gives a detailed overview of the various types of printers and printer security applications. The report also presents information about the market size and its growth prospects, after a thorough analysis of various parameters such as market attractiveness, buying criteria, growth drivers and market challenges. It further details the product lifecycle analysis. Porter’s five forces analysis, which is an assessment of an industry based on details regarding suppliers, buyers, competition, substitutes, and new entrants, has been leveraged to calculate the opportunities and likely-profitability of the industry.

Besides segmenting the market on the basis of numerous criteria, the report also segments the market on the basis of geography, namely the Americas, Europe, Middle East and Africa (EMEA), and Asia Pacific (APAC). Further, it provides detailed profiles of key vendors in the market such as Xerox, HP Enterprise, Ricoh, Canon, Sharp, PrinterCorp, Toshiba, Lexmark International, Epson, and Konica Minolta. The report presents their strengths and weaknesses, and market opportunities and threats to them.

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