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A copier (otherwise called as photocopier or copy machine) is a machine that makes paper duplicates of documents and other visual pictures quickly and efficiently. Most current copiers operate on technology called as xerography. Xerography is a dry system utilizing heat fusion technique. Copiers also use other technologies such as inkjet which, are suitable for low-end machine, majorly reasonable for home & office use. Furthermore, with the current rate of increasing usage and rising number of electronic devices such as laptops, cell phones, and other devices, the requirement for updated technologies in order to be able print and create a photocopy has increased the demand of the copiers. The increased market of copiers is also owed to the increasing number of commercial spaces across the globe. This has expanded the requirement of copiers from various firms such as hospitals, law firms, etc.
Copiers are broadly classified into three types that are wide format copy machines, digital copy machines, and all-in-one copy machines. Wide format copy machines make copies quickly, therefore there have been increased investment into a wide format copy machine. This requires few moments to make the copies of documents that one needs, and that can be done in the office itself. These machines are also right fit for the businesses that need to comprise both information & graphics on the documents. Besides, the type market is segmented based on the colour format these copiers provide i.e. monochrome copiers & colour copiers. Colour copiers are widely used as these are able to copy in both colour along with black & white. These colour copiers are multifunction devices with multiple cartridges containing the 4 primary colours, that are Cyan (C), Yellow (Y), Magenta (M) and Black (K).
Key Market Driver -
• Increasing Size of the Commercial Applications
Key Market Restraint -
• Availability of Substitutes such as Printers • Increasing Digitalization and Adoption of E-books along with Soft Copies.
Key players in the market have a prevailing presence in the market, owed to the good will and brand name. Moreover, these players are expected to have substantial growth in their business owing to the robust marketing strategies and providing a variety of product offerings. Also, these brands have renowned presence in the global market and have majority of the shares.
Some of the key competitors in the copiers market include Xerox, Ricoh, HP, Lexmark, Canon Inc., Kyocera, Sharp, Konica Minolta, Brother International, Samsung Electronics & Dell.
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Asia Pacific is expected hold the largest market share along with the highest growth rate in the coming years. This is owed to the continuous increase in the investments done by the companies in the region to increase the market presence. Moreover, this region is the hotspots for the majority of the key players to sell their products in developing and untapped market. This is owed to the increased service activities in the countries such as China, India, Japan, & Korea.
Similarly, Middle East & Africa and Latin America is expected to be a prominent region for the growth of the copiers market. This is owed to the presence of capital intensive companies, along with low cost of labour in the region. Moreover, in the past 5 years the region has invested a lot in service infrastructure, in order to increase the trade and volume of import and export of various goods & products thereby increased documentation. Europe and North America on the other hand has showed a steady growth with minimal changes in the market structure. Also, the companies in the market are shifting their focus at developing economies, thus this region is expected to exhibit minor volatility in the coming years.
The ongoing COVID-19 pandemic is expected to impact the market majorly, owing to the halt in all the activities including the applications which requires copying machines across the globe. Furthermore, the digital transformation pertaining in the market will further broaden with increased technological adoption in service industries and other markets, which presently use high number of copying machines.
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