Global Office Multifunction Devices Market Size By Type (Photocopy Machines, Print-Centric Office Multifunction Devices), By Application (Healthcare, Government, Finance And Education, Telecommunication, Retail And Manufacturing), By Geographic Scope And Forecast

Office Multifunction Devices Market Size And Forecast

Office Multifunction Devices Market size is growing at a moderate pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2021 to 2028.

The growing need for Multifunction Devices in corporate offices, logistical facilities, and educational institutions is supposed to propel the Office Multifunction Devices Market in the near future. The Global Office Multifunction Devices Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Office Multifunction Devices Market Definition

Multifunction Devices (MFDs) handle a variety of office imaging functions, including document input, output, storage, and transfer. They showcase Canon’s cutting-edge technology, such as sophisticated network, document processing, and software. A machine that can print, copy and scan is known as a Multi-Function Device (MFD). These machines offer higher printing rates and provide extra features such as email scanning. These devices also serve an important role in document management in a range of industries, including healthcare, education, and government.

Office Multifunction devices are also essential components of home offices and companies, allowing users to quickly print and photocopy papers from a single device. These devices may be utilized as a least to scan, copy and print in one device – some of them can also be utilized for email and fax. The advantages of this are that it reduces expenses and requires very little space, making it a more practical option than having four or more machines to do the same work. Multi-functional printers that can print in A3 and A4 sizes in high-resolution color at rapid speeds. The photocopier and scanner provide time-saving capabilities such as dual scan.

Global Office Multifunction Devices Market Overview

Increased availability of managed print services (MPS) will fuel market development, as will worldwide compliance with environmental standards, which will considerably boost the market growth of Global Office Multifunction Devices as an emerging driver. The offices include those in departments, such as IT, telecommunications, customer care, banking and finance, transportation, manufacturing of diverse vertical industries, educational institutes, government, stock exchanges, civil and construction, and these offices are considered to promote market growth. Due to increasing demand for critical supplies like shredders, scanners, and fake detectors, the worldwide market is set to develop unprecedentedly throughout the predicted period.

Governments all around the world are also enacting legislation to protect the preservation of health records. It ensures the multi-functional printer industry’s unstoppable expansion. Other industries that are expected to boost demand in the Office Multifunction Devices Market include education, manufacturing, and entertainment. The high cost of maintenance and the rapid depletion of ink might stifle expansion in the multi-functional printer industry. One of the market barriers for Office Multifunction Devices is that the cost of these goods is more than a person can pay, and the prices for refills and parts are also higher.

Global Office Multifunction Devices MarketSegmentation Analysis

The Global Office Multifunction Devices Market is Segmented on the basis of Type, Application, and Geography.

Office Multifunction Devices Market, By Type

• Photocopy Machines• Print-centric Office Multifunction Devices

Based on Type, the market is bifurcated into Photocopy Machines and Print-centric Office Multifunction Devices. The Print-centric Office Multifunction Devices has the largest market share in the market. Offices in areas such as IT, telecommunications, client service, banking and finance, transportation, production of different vertical industries, educational institutes, government, stock exchanges, and civil and construction are among those regarded to support market expansion.

Office Multifunction Devices Market, By Application

• Healthcare• Government• Finance and Education• Telecommunication• Retail and Manufacturing• Others

Based on Application, the market is bifurcated into Healthcare, Government, Finance and Education, telecommunications, Retail and Manufacturing, and Others. All these Healthcare segments are dominating the market. In healthcare, where rapid information sharing is important. It not only guarantees appropriate treatment but also makes keeping patient records easier such factors are driving this segment.

Office Multifunction Devices Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

On the basis of regional analysis, the Global Office Multifunction Devices Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. Among the diverse regions, North America is projected to dominate over the projection period due to the huge number of firms established in this region that utilize Office Multifunction Devices.

Key Players

The “Global Office Multifunction Devices Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are HP Inc., Canon, Epson, Brother, Samsung Electronics, Ricoh, Fuji Xerox, Dell Inc., Lexmark, Oki and others. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

Product Launches and Product Expansions

• In October 2020, Epson today announced the launch of two new SureColor P-Series printers – the 24-inch SureColor SCP7530 and 44-inch SureColor P9530. Designed uniquely to cater to the full spectrum of creative needs, the SureColor SC-P7530 and SC-P9530 deliver extraordinary performance.

• In October 2020, Fuji Xerox Co., Ltd. launched two new production printer modelsVersant 3100i Press and Versant 180i Press in the production color market.

• In July 2018, Lexmark, a global imaging solutions leader, recently announced the availability of a new generation of A4 color and large workgroup monochrome printers and multi-function products (MFPs) that bring an unparalleled combination of reliability, productivity and security to business users.

Report Scope

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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