Technavio Announces the Publication of its Research Report Global Multi-function Printer Security Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Multi-function Printer Security Market: Brother International, Canon, HP, Xerox, and Ricoh.
Other Prominent Vendors in this market are: ARC Document Solutions, Epson, Konica Minolta, KYOCERA Document Solution, Lexmark International, OKI Data corporation, Pitney Bowes, PrinterCorp, Sharp, and Toshiba.
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Commenting on the report, an analyst from Technavios team said: One trend spurring growth is the preference for eco-friendly printing services. Organizations worldwide are developing printing solutions that use less paper and are more efficient. Currently, organizations are concerned about the increase in carbon footprints, energy bills, and other environmental concerns. Hence, these organizations are adopting green initiatives. There has been an increase in pressure on businesses by governments of various countries to reduce their carbon emissions and to meet carbon reduction targets. A recent development in solid ink technology, which utilizes solid ink sticks instead of fluid ink or toner powder, has attracted many SMEs as this technology has reduced the TCO and carbon footprints.
According to the report, one driver that will lead to the growth of this market is the high demand from industry verticals. MFPs are in high demand in industries like education, healthcare, entertainment, and manufacturing, mainly for low volume printing and basic functions such as scanning and copying. As the printing volume is low in these segments, users find it more affordable to purchase MFPs than to depend on external vendors for their daily printing needs.
Further, the report states that a major challenge for this market is the shift toward paperless society. The increasing digitization and use of web-based methods for major operations have reduced the use of paper, which in turn, reduces the demand of MFPs. Advances in display technology have influenced the development and deployment of digital signage and large screen-size display, which are used for promotions. In order to reduce the use of paper, many governments are promoting paperless environment.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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A printer is a device that takes inputs like texts or graphics from computers and prints on paper. Printers are mainly of two types: impact and non-impact. Impact printers such as dot-matrix printers use forcible impact to reproduce text and images on paper. They use print heads that strike the surface of ink ribbons, pressing the ribbons against the paper. On the other hand, non-impact printers, including inkjet and laser printers, print without mechanical impact on the paper.
Technavios analysts forecast the global multi-function printer security market to grow at a CAGR of 9.37% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global multi-function printer security market 2016-2020. To calculate the market size, the report considers the volume of labels produced by the vendors for the packaging of different goods from industries like food, healthcare, consumer goods, and others.
The market is divided into the following segments based on geography:
Technavio’s report, Global Multi-Function Printer Security Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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