Office Peripherals & Products Market Size, Trends, Sector / Industry Report & Analysis 2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Office Peripherals & Products Market


The global Office Peripherals & Products market size is projected to reach US$ 54.74 billion by 2026, from US$ 39.93 billion in 2020, at a CAGR of 5.4% during 2021-2026. Increasing number of offices and setting up of new businesses worldwide is driving demand. Furthermore, technological advancements in printers, desktop scanners, and other office peripherals are likely to fuel market demand over the forecast period.

Offices considered while estimating market size include those in departments such as IT, telecom, customer care, banking and finance, transportation, factory/production of various industry verticals, educational institutes, government, stock market firms, civil sector, and construction. Products used only for official purposes have been taken into consideration, whereas, demand originating from the retail sector, including enterprises, shops, retail outlets, printing, scanning, and photocopy service providers, as well as the residential sector has not been estimated.

The global market is poised for unprecedented growth over the forecast period owing to high demand for essential supplies such as shredders, scanners, and counterfeit detectors. Growing demand for multifunctional equipment, such as printers, photocopiers, and scanners, in commercial avenues has been witnessing steady growth.

North America held the dominant market share in 2017 owing to presence of a substantial number of players and suppliers of office products. U.S. is one of the most prominent manufacturing hubs of office supplies. In the Asia Pacific region, Japan and China are currently at the forefront as far as office peripherals are concerned. These countries are projected to account for a significant share in the regional market over the forecast period.

Advancements in technologies that result in high manufacturing costs for peripherals such as shredders, all-in-one printers, bill counters, and coin sorters act as a restraining factor as the affordability of these essential supplies is hampered, especially in cases of small-scale businesses.

Market Segmentation, Outlook & Viewpoint: Global Office Peripherals & Products Market

Product Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Bill Counters
  
Coin Sorters
  
Counterfeit Detectors
  
Safes, Deposit Boxes, & Cash Handlers
  
Shredders (Paper & Plastics)
  
Laminators
  
Printers, Scanners, & Photocopiers

Product Market Segmentation & Outlook (Volume Shipment, Thousand Units, 2014 - 2025)

  
Counterfeit Detectors
  
Shredders
  
Printers, Scanners, & Photocopiers

Key Players, Recent Developments & Regional Insights: Global Office Peripherals & Products Market

Based on product, the market has been segmented into bill counters, coin sorters, counterfeit detectors, safes, deposit boxes, and cash handlers, shredders (plastic and paper), laminators, and printers, scanners, and photocopiers. The printers, scanners, and photocopiers segment accounted for the dominant share in 2017 and is anticipated to retain its lead over the coming years.

Counterfeit money detectors are used in banks and financial institutions to avoid counterfeiting of currency and detect fake currency denominations. Rising need to tackle and overcome concerns associated with fake currency and illegal money laundering across the globe is generating considerable demand for counterfeit detectors. The segment is anticipated to register remarkable growth over the forecast period.

The paper shredder segment accounted for a significant share in the office peripherals and products market, particularly in the BFSI sector, stock market firms, and government organizations. This can be attributed to growing concerns associated with security of classified and sensitive data.

Regional Insights

Based on region, the market is segmented into North America, Europe, Asia Pacific (APAC), South America, and Middle East and Africa (MEA). North America and Asia Pacific are the most prominent markets in terms of revenue as well as shipment of printers, shredders, and counterfeit detectors.

Countries such as U.S., U.K., Japan, China, India, Southeast Asian nations, and Australia are anticipated to generate considerable revenue over the next few years. The growth of these countries can be attributed to increasing government investments, development of customized office supplies, rising number of manufacturing facilities, flourishing transportation and IT sectors, and growth of the BFSI sector.

In Asia Pacific, demand for office supplies is expected to grow owing to increasing literacy rate, growing population, rapid urbanization, and stabilizing economic conditions of various countries. Japan and China are two of the most prominent manufacturing hubs for these products. Increasing adoption of office components, favorable demographics, and policy reforms have fueled the Southeast Asian market.
Increase in government initiatives is expected to boost the establishment of start-ups in Europe, thereby driving this regional market. Moreover, introduction of favorable government policies such as legal protection and programs and policies to encourage start-ups is increasing the ease of doing businesses. Financial benefits such as tax returns and beneficial taxation schemes are also aiding regional market growth.

Office Peripherals and Products Market Share Insights

Key industries participants include HP Development Company, L.P.;  Canon, Epson America, Inc.;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.

In November 2017, HP Development Company, L.P. acquired the printer business of Samsung Electronics Co. Ltd. to expand its portfolio of printers. Furthermore, in April 2018, Epson America, Inc. introduced a new range of printers designed specifically for small- and medium-sized businesses. Manufacturers and service providers in this market are focusing on enhancing their product portfolios to stay ahead in the competition and expand their customer base worldwide.

Key Insights Covered: Global Office Peripherals & Products Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Office Peripherals & Products industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Office Peripherals & Products industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Office Peripherals & Products industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Office Peripherals & Products industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Office Peripherals & Products industry.

Research Methodology: Global Office Peripherals & Products Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other