Office Equipment Market - Segmented by Type (Photocopiers, Printers and Scanners, Fax Machines, Coin and Currency Counting Devices), by Distribution Channel (Online Channel) and Geography - Growth, Trends, and Forecast (2018 - 2023)

The global office equipment market is subjected to high fluctuation in terms of demand and is highly impacted by the U.S economy. Many of the European and Latin American countries also play a crucial role in deciding the demand of office equipment. Annual depreciation charges for the machinery used to manufacture the office equipment have high impact on the players in the global office equipment market. A large customer category for the office equipment are the major financial institutions and small and mid-sized businesses along with government institutions. The global office equipment market is expected at a CAGR of 4.8% during the forecast period, 2018-2023.

Office Equipment Market Dynamics

The key growth strategy for product developers in the global office equipment market is the launch of developed and technologically enhanced models. Introduction of new printers which improve the color output at a lower per-unit cost, and increased functionality have been gaining consumer preference. Increase in research and development expenditures is expected to drive the global office equipment market. Geographic expansion is one of those key growth strategies adopted by all the large players to gain market share which aids to gain higher revenues in the office equipment market. Growth of tertiary sector in Asia-Pacific with expansion of multinational companies is expected to create considerable opportunity for the office equipment and supplies market.

Stringent regulations set by the U.S and European Union on energy efficient and labelling of the office equipment is expected to hinder the growth rate during the forecast period.

Office Equipment Market Segmentation

Changing customer preferences, tightening regulation, increased mobility, and technological changes are reshaping the printing segment in the office equipment market. In 2017, the printing market was dominated by players such as HP, Xerox and Lexmark International holding a majority share on their traditional print business while vendors such as Konica Minolta, Ricoh and Sharp continued to expand their research capabilities for product innovation. This has also led to growth of photocopiers to hold majority share in 2017.

Printers and Scanners are the fastest growing segment in the global office equipment market. High adoption in the manufacturing, healthcare and banking sectors is the key factor leading to the rise in demand.

Office Equipment Market - Regional Segmentation

United States held a majority market share in the North America office equipment market in 2017. Asia-Pacific witnessed the highest growth rate where Japan being one of the leading producers of the office equipment such as printers, scanners gained high revenues through imports to North America and European region. The growth of the SME’s business segment in the Asia-Pacific and South America regions is expected to boost the demand for office equipment. India have witnessed a considerable growth in the office and supplies market with the expansion of service sector over the recent past, primarily through influx and expansion of various multinational companies.

Office Equipment Market Competitive Landscape

The global office equipment market is highly dominated by the global players such as Xerox Corporation, Canon Inc., and HP among others. Wide distribution network and easy availability of these well established brands facilitate the major plyers with high revenues and considerable market share. Expansions being the most adopted strategies, the market is highly competitive with the presence of global and regional players.

Major Players: Canon Inc., Xerox Corporation, Fabricated Software, Inc., HP Development Company, L.P., Pitney Bowes Inc., FUJIFILM Holdings Corporation, Panasonic Corporation, Brother International Corporation, voxeljet AG and Ricoh Company Ltd. among others

Key Developments in the Market

• January, 2018 - Fujifilm to take over Xerox as photocopier demand drops. Global demand for copiers and printers has declined, as people have switched to emailing documents and using smartphones to scan paperwork.

Reasons to Purchase the Report

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• Global, regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market


• Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years


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