Office Equipment: A Global Outlook
San Jose, California (PRWEB) September 11, 2008
Advent of advanced, faster, and affordable office equipment has facilitated the rapid emergence of modern paperless offices. Growing popularity of Internet for conducting businesses, and rising number of home-based employees are major contributors to the rising demand for advanced communication and office equipment. Traditional markets such as United States and Europe generate the maximum demand for office automation equipment. However, with these markets witnessing saturating conditions, developing regions such as Asia, Eastern Europe and Latin America are emerging as new growth centers for manufacturers of office equipment. In particular, China, Brazil, India, Indonesia and Russia are expected to push up the sales of advanced office equipment.
Technology and product innovations, and multifunctional products are major driving forces for the office equipment market. Advent of newer, cost-efficient, effective and user-friendly machines that improve operational efficiency of businesses is expected to boost revenues for the industry. Color copiers, imaging scanners, and dictation equipment are expected to benefit from rapid technological advancements. Integration of various office technologies is the latest buzzword in the industry. Standalone office machines, with dedicated functions such as printing or fax, are being transformed into sophisticated devices that are capable of performing multiple tasks. The market for Multifunction Peripheral (MFP) equipment is set to become the mainstay of global offices. Multifunctional products are fast replacing standalone machines, in both home and office environments.
Small office and home office (SOHO) sector holds vast potential for the manufacturers of office equipment. Accounting for a significant share of global demand for equipment such as printers, PCs, copiers, scanners, faxes and answering machines, SOHO sector is expected to generate higher demand owing to the rising proportion of at-home employees. Manufacturers are eyeing the sector, offering products that are specifically aimed at addressing the unique needs of this sector.
Replacement market is another growth area for worldwide office equipment industry. Office market, being mature limits growth prospects in specific regions as well as in certain industry verticals. However, migration of standalone users to MFPs and growing acceptance of color-enabled copiers/printers is expected to offer additional growth opportunities. Decreasing prices of plain paper fax machines and benefits of multifunctional fax machines are driving the demand in the replacement market for fax machines.
Rapid strides made by the PC market have expanded the scale of printer market, facilitating the technological shift from impact printers to monochrome LED/Laser and finally to inkjet printers. Declining prices, integration of new applications, increased processing speed, and improvement in color quality are some of the factors that are driving growth in the worldwide printers market. Further, growing popularity of digital photography has also contributed to the higher demand for the advanced equipment.
The report titled "Office Equipment: A Global Outlook", published by Global Industry Analysts Inc, provides statistical anecdotes, market briefs, and concise summaries of research findings. The report offers a bird's eye view of the office equipment industry, and takes note of key emerging, and evolving trends. Major regional markets discussed in the report include United States, Germany, UK, and India, among others. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of 1,184 companies worldwide
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