Back To Growth

Software innovation will be the key to sustain future printer market growth

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Organizations ’ growing affinity towards digital, the influx of millennials or digital natives into the workplace and the adoption of digital and collaborative workplace culture across organizations have been gradually reducing the reliance on paper and printing.

The employees and working professionals today are quite comfortable to read from a screen, rather than from a piece of paper or printed documents and hence have different expectations altogether from printing hardware in the workplace.

Also, with an increasing number of geographically dispersed workforce and mobile workers, organizations need printing solutions which will enable them makes it easy for mobile workers to print documents from any Internet-enabled printer, without any hiccups.

In this rapidly evolving technology landscape, print manufacturers need to develop innovative solutions and business models to sustain growth. But, as the profits still continue to come from existing printing products and services, printer manufacturers are facing great difficulties to switch to new business models. They need to maintain a fine balance between upgrading traditional printing hardware and developing radically different capabilities to cater to the new business requirements.

MARKET DYNAMICS

The overall India printer market in 2017-18 was pegged at around 3.8 million plus units (Inkjet, Laser, Dot Matrix printers) and saw a growth of 12 percent over the previous year, as per leading vendors in the fray. The introduction of GST played a significant role in the growth as it required businesses to maintain accounts and copies of electronic invoices to claim GST refund.