Is MPS Experiencing Explosive Growth?
The new study indicates that the market grew from $20B in 2008, to $24B in 2009, and is forecast to become a $68B market by 2014. The market's 24 percent compound annual growth rate (CAGR) continued, despite the 2008 economic crisis and slow recovery in North America and Western Europe. Photizo Group forecasts this rapid, double-digit growth will continue for the next five years at a 22 percent increase in CAGR (2009-14).
Fastest Growing Countries for MPS Opportunity The new Photizo study found that Asia Pacific is the fastest growing MPS region, with six of the top ten fastest growth countries, led by India. The research also indicates that in 2013, Europe's market will overtake North America as the largest MPS region, while the U.S, will remain the largest MPS country in the world, followed by Germany and U.K.
"Ironically, the tough economic climate is one of the main drivers behind this impressive growth. Companies have been forced into more effective cost measures, while simultaneously increasing productivity and efficiency. MPS closes this value gap," said Photizo Group CEO Ed Crowley.
Other growth factors include increasing market awareness due to clearer messaging and more programs offered by OEM vendors, plus the channel's rising interest in providing MPS to small and medium-sized businesses. "The MPS account management process creates strong ties between vendors and customers, shifting the business model from 'transactional' to 'continuous optimization'," Crowley noted.
In-depth Look at Vendor Dynamics and Competition The report chronicles OEM vendor market share by revenue and by devices under contract. Findings show intensified competition among top OEM vendors: Xerox/Fuji Xerox, Hewlett Packard, Lexmark, Ricoh and Canon. The current market leaders, Xerox/Fuji Xerox, HP and Ricoh, have all made major investments in implementing their strategies worldwide.
The report itself is very pricey, but for more information about findings from the Photizo market sizing and forecast report you can view a free 1-hour presentation/Webinar.