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Technavio’s market research analysts predict the global multi-function printer security market to grow steadily during the forecast period and also estimate the market to post a CAGR of more than 9% by 2020. This industry research report identifies the changing business environment to be one of the major factors that will have a positive impact on the growth of this market in the coming years. With the evolution of communications technology and automation, companies across the globe experienced an increase in the number of business-related documents that needed printing. Since the use of the right hardware alone will not serve document-management purposes, organizations are constantly in the need of software-driven, multi-functional office devices. As multi-function printers can integrate document management, they play a major role in providing a complete document solution and will witness a rapid increase in their demand, which in turn, will augment the demand for printer security solutions.
End-users have started focusing on building centralized multi-function printers and printing services which will help companies reduce operational costs associated with buying printers, cartridges, and other related support services. Moreover, centralized printing setups also consume less power and provide easy access to high-speed printing, faxing, copying, and scanning capabilities, which will increase their adoption in the coming years.
Characterized by the presence of several vendors, the global multi-function printer market appears to be highly fragmented. Competitive pricing is one of the major strategies used by vendors to increase their customer base, which results in price wars that greatly affect vendor performance. Additionally, national and local economic conditions and demographic trends also affect the performance of vendors. Due to the presence of several vendors, the competitive environment in the market is intense. Players mainly compete on the basis of several factors such as technology, distribution channel, and global brand presence and also focus on establishing relationships with their customers to sustain market competition.
The leading vendors in the market are -
The other prominent vendors in the market are ARC Document Solutions, Epson, Konica Minolta, KYOCERA Document Solution, Lexmark International, OKI Data corporation, Pitney Bowes, PrinterCorp, Sharp, and Toshiba.
Managed security services are third party services for managing and monitoring printer services such as document management, data encryption, and print access control. Due to their ease of deployment and management, the recent years witnessed an increase in the adoption of managed security services among enterprises. This trend is expected to continue during the next few years as well and this segment will dominate the market throughout the forecast period.
In terms of geographical regions, the Americas was the major revenue contributor during 2015 and this mainly attributed to the high concentration of vendors and the large deployment of multi-function printers in enterprises that resulted in the deployment of multi-function printer security solutions. Rapid advances in technology and an increase in the number of tech-savvy consumers with an awareness of security features, will propel the growth of the market in this region.
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PART 01: Executive summary
PART 02: Market summary
PART 03: Scope of the report
PART 04: Assumptions
PART 05: Market research methodology
PART 06: Introduction
PART 07: Printer market overview
PART 08: Market landscape
PART 09: Market opportunities
PART 10: Product lifecycle analysis
PART 11: Market segmentation by deployment
PART 12: Geographical segmentation
PART 13: Market attractiveness
PART 14: Buying criteria
PART 15: Market drivers
PART 16: Impact of drivers
PART 17: Market challenges
PART 18: Impact of drivers and challenges
PART 19: Market trends
PART 20: Impact of trends
PART 21: Five forces analysis
PART 22: Vendor landscape
PART 23: Appendix
PART 24: Explore Technavio
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