San
Francisco, 22 November 2018, The global office peripherals and products market size is estimated to reach USD 51.65 billion by
2025, according to the new report conducted by Grand View Research, Inc.,
exhibiting a 5.4% CAGR during the forecast period. The adoption of office
peripherals and products is expected to increase as rapid urbanization is
triggering the establishment of new businesses, especially in developing
economies across the world. Demand for essential office products, particularly
printers and scanners, counterfeit detectors, and shredders, is projected to
increase and drive the market at a notable pace.
Demand arising from offices in departments
such as IT, telecom, transportation, customer care, banking and financial
sector, educational institutes, and factory/production is offering lucrative
opportunities to the overall market. Furthermore, technological advancements
thanks to intense R&D by product developers and manufacturers to spearhead
a competitive environment are fueling market demand. These developments are
attracting consumers to replace their existing products with newer versions.
This is expected to drive the overall market at a significant pace over the
forecast period.
The office peripherals and products market
has been segregated, based on product, into bill counters, coin sorters,
counterfeit detectors, safes, deposit boxes, and cash handlers, shredders
(paper and plastic), laminators, and printers, scanners, and photocopiers.
The printers, scanners, and photocopiers
segment held the largest market share in 2017. These products are widely used
in offices across industries and have become essentials for any office setup.
They are used in educational institutes and universities, BFSI sector, stock
markets and investment firms, and government offices to maintain records and
produce these records whenever required. Shredders are used in different
offices to shred paper and plastic films. The segment is anticipated to grow
considerably from 2018 to 2025.
North America accounted for the largest
market share but is projected to lose share to Asia Pacific over the forecast
period. Asia Pacific is anticipated to demonstrate the highest growth rate on
account of rapid urbanization, growing manufacturing activities in the region,
rapid setting up of SMEs, and government programs that require office setups.
HP Development Company, L.P.; Epson
America, Inc.; Canon Inc.; Royal Sovereign; Yale (ASSA ABLOY); Brother
International Corporation; and Ricoh Company Ltd. are some of the key industry
participants. These and others are constantly emphasizing on product innovation
and enhancement of their products and solutions portfolios. They have
determined lucrative opportunities being offered by various offices in
different sectors and are therefore, focusing on providing customized solutions
based on consumer requirements.
Access Full Research Report On Office Peripherals And Products Market Analysis:
Further key findings from the report suggest:
·
Increasing number of
small-scale businesses and start-ups is propelling demand for office products
·
Growing concerns associated
with penetration and circulation of fake currency in developing nations and
necessary measures required to curb the movement of fake currency are driving
demand for counterfeit detectors
·
The shredders segment is
expected to witness increasing demand from government offices, investment and
stock market firms, and BFSI offices across the globe
·
North America accounted for the
largest market share owing to presence of prominent manufacturers
·
Asia Pacific is expected to
grow at the highest CAGR over the forecast period owing to rising urbanization
in the region and increasing number of start-up businesses. Local product
manufacturers in the region are targeting consumers by offering customized
products at affordable prices
·
Key industry participants
include HP Development Company, L.P.; Epson America, Inc.; Canon, Inc.; Royal
Sovereign; AccuBANKER USA; ZY Tech Co., Ltd.; International Empire Traders;
Ozone Group; Yale (ASSA ABLOY); American Shredder, Inc.; Ameri-Shred; Aurora
Corp of America; Dahle North America, Inc.; Brother International Corporation;
Konica Minolta Business Solution U.S.A., Inc.; and Ricoh Company Ltd.
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Research At: www.grandviewresearch.com/industry/technology
Grand View Research has segmented the
global office peripherals and products market based on product and region:
Office Peripherals & Products Product Outlook
(Revenue, USD Million, 2014 - 2025)
·
Bill Counters
·
Coin Sorters
·
Counterfeit Detectors
·
Safes, Deposit Boxes, &
Cash Handlers
·
Shredders
·
Laminators
·
Printers, Scanners, &
Photocopiers
Office Peripherals & Products Product Outlook (Volume
Shipment, Thousand Units, 2014 - 2025)
·
Counterfeit Detectors
·
Shredders
·
Printers, Scanners, &
Photocopiers
Office Peripherals & Products Regional Outlook
(Revenue, USD Million, 2014 - 2025)
·
North America
o U.S.
o Canada
o Mexico
·
Europe
o Germany
o U.K.
o France
·
Asia Pacific
o China
o Japan
o India
o Australia
·
South America
o Brazil
·
Middle East & Africa
Access Full Press Release of this Report:
www.grandviewresearch.com/press-release/global-office-peripherals-products-market
www.grandviewresearch.com/press-release/global-office-peripherals-products-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information: www.grandviewresearch.com/
