Central and Eastern European multifunction peripherals market to grow 49.1% in 2004

The Central and Eastern European market for multifunction peripherals (MFPs) soared by more than 81% in volume in 2003 and is expected to grow a solid 49.1% in 2004. According to IDC, aggressive promotions and technology advances pushed down prices, resulting in a value jump of just 18.1%, but this should bounce back slightly to just over 20% this year. With the transition to digital machines still going strong and the MFP market at an early stage, IDC expects volume growth to stay solid over the next few years. Of the countries under study, Poland was the largest MFP market in 2003 and should remain the largest in 2004. This reflects both its population base and its expanding economy; Poland's GDP is expected to rise by 4.9% this year, the highest of the six nations covered. The Czech Republic was the second largest market for MFPs and Hungary the third. Together, these three markets accounted for more than 82% of total MFP volume for the countries in the study.