MFP market sees promising growth
A multi-function printer (MFP) is a device that performs a variety of functions including – printer, scanner, copier or a fax machine. MFP/Multi-functional devices (MFD) edges over single function devices with its increased adoption by small, medium size businesses as well as large enterprises. Growth in corporate sector including BFSI, manufacturing, IT/ITeS and government sector have fuelled the demand for MFP devices across the country. Due to substantial technological shift, InkTank technology (of which Epson is the leader) has changed the market with the PPM (Printing page per minute) concept that claims to print 100 pages per minute. However, the growth of colorjet high-end models will be on demand, where HP Inc. continues to be the market leader, followed by Canon. Some experts quoted that a time may come when Inkjet/Inktank will replace the Colorjet technology, simple reason being, when you can solve the requirement with Inkjet, why will one opt for the Colorjet.
Key Takeaways: The demand for MFPs is increasing as they deliver enhanced functionality and productivity for an organization, thus redefining office life and helping organizations consolidate their investment, maximizing the use of space and simplifying workflow processes. This, in turn, is increasing the sale of these products and hence this segment is clearly growing much faster and has been undergoing many changes in its functionalities.
Cool Vendors: HP, Canon, Epson, Brother, Kyocera, Ricoh, and Xerox.