Business | Technology
Value of multifunctional products in printer market likely to double
The value of multifunctional products (MFP) in Middle East's printer market is expected to double to $2.6 billion (Dh9.54 billion) by 2010, an increase of 85.71 per cent from $1.4 billion (Dh5.14 billion) in 2007, said a top Brother Gulf official.
- By Naushad K. Cherrayil, Senior Sub-Editor
- Published: 00:28 April 18, 2008
Dubai: The value of multifunctional products (MFP) in Middle East's printer market is expected to double to $2.6 billion (Dh9.54 billion) by 2010, an increase of 85.71 per cent from $1.4 billion (Dh5.14 billion) in 2007, said a top Brother Gulf official.
"The surge in Middle East and North Africa demand is coming from the small- and medium-businesses segment, which has developed a need for higher print speeds for full colour prints, data security, as well as lower purchase and operating costs. Latest studies reveal that copiers and MFPs now represent 53 per cent of the market, maintaining a trend that has rapidly gained momentum since the second half of 2006," said Shinji Tada, managing director, Brother Gulf.
He said as the fastest growing printer and MFP manufacturer in the region, "we have great expectations for 2008. One of our core businesses is colour printing, which currently represents 72.1 per cent of the total printing market in the Middle East. We are expecting to leverage the projected growth of this segment, as the global printer,copier and MFP market rapidly progresses to reach its projected value of $62.6 billion by 2010".
A recent study revealed that MFPs are dominating the regional market by slowly easing out single function printers and copiers, which has led to sales of more than 23 million MFP units in the first two quarters of 2007.
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