Global Office Peripherals And Products Market Insights Forecasts to 2033

• The Global Office Peripherals And Products Market Size was estimated at USD 41.02 Billion in 2023
• The Market Size is Expected to Grow at a CAGR of around 6.3% from 2023 to 2033
• The Worldwide Office Peripherals And Products Market Size is Expected to Reach USD 75.54 Billion by 2033
• Asia Pacific is expected to grow the fastest during the forecast period.

The global office peripherals and products market size was worth around USD 41.02 billion in 2023 and is predicted to grow to around USD 75.54 billion by 2033 with a compound annual growth rate (CAGR) of approximately 6.3% between 2023 and 2033.

Market Overview

The global office peripherals and products market refers to the industry, that encompasses a wide range of hardware and equipment, used in an office environment, including items like printers, scanners, copiers, projectors, monitors, and other types of accessories supporting various office-related tasks and functions. With increased rates of remote working, there has been a strong demand for home office peripherals, cloud-based printing solutions, and more mobility. Organizations are now setting up the latest technological advancements for offices and productivity-enhancing peripherals to streamline workflow and improve employee communication. The demand for technologically advanced office equipment is also driving the market, and the players continue to innovate with an opinion to the ever-growing demands of businesses and consumers. The key players will, therefore, focus on innovative solutions that improve productivity and simplify processes.

Report Coverage

This research report categorizes the global office peripherals and products market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global office peripherals and products market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global office peripherals and products market.

Driving Factors

The factors driving office peripherals and products include continuous technological advances in office equipment, designing focus on the workplace, and growing demand for paper shredders across MNCs. The increasing adoption of smart office concepts will continue shaping the market because AI, IoT, and cloud technologies will create advanced functionalities in addition to elevating overall productivity.

Restraining Factors

One of the major challenges is that high-end office peripherals, such as multifunction devices and top-of-the-line printers, can be expensive for a small enterprise or a budget-conscious consumer to use, thereby discouraging their adoption. Rapidly evolving technologies also result in products becoming outdated quickly and push businesses to upgrade often, which are also cost factors over the long term.

Market Segmentation

The global office peripherals and products market share is classified into product and application.

• The printers, scanners, and photocopiers segment accounted for the largest share in 2023 and is projected to grow at a significant CAGR during the forecast period.

Based on the product, the global office peripherals and products market is divided into bill counters, coin sorters, counterfeit detectors, safes, deposit boxes, and cash handlers, shredders, laminators, printers, scanners, and photocopiers, and others. Among these, the printers, scanners, and photocopiers segment accounted for the largest share in 2023 and is projected to grow at a significant CAGR during the forecast period. The growth of the segment is mainly from increasing demand in the manufacturing, health care, and banking industries globally. The market is also growing due to the decreased usage of paper from traditional means in developed regions due to industrial automation and IT integration.

The business use segment accounted for the highest share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.

Based on the application, the global office peripherals and products market is divided into business use, governmental use, personal use, and others. Among these, the business use segment accounted for the highest share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The increasing demand for sophisticated features including secure printing, user authentication, and encryption in devices drives the growth of the segment. These features enhance data protection and compliance with regulations, streamline operations, and improve document management.

Regional Segment Analysis of the Global Office Peripherals And Products Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global office peripherals and products market over the predicted timeframe.

North America is anticipated to hold the largest share of the global office peripherals and products market over the predicted timeframe. Industry growth in the region is due to the fact that multifunction devices (MFDs), incorporating printing, scanning, copying, and faxing capabilities, cost less, ease processes, and cater to new requirements in workspaces. More importantly, consumers are seeking devices made of recycled materials or built with an eco-friendly approach while ensuring efficiency due to environmental pressure on sustainability within the country.

Asia Pacific is expected to grow at the fastest CAGR in the global office peripherals and products market during the forecast period. The high demand for office equipment in China, Japan, and India is mainly due to the widespread use of these products for daily needs. Moreover, well-established import/export infrastructure for stationery and official-use products in Japan and China further accelerates consumption. Enhanced international trade and collaborations have resulted in Chinese workplaces adopting modern practices, leading to investments in advanced peripherals like multifunctional devices and digital document management systems.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global office peripherals and products market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• American Shredder, Inc.
• Epson America, Inc.
• Zytech
• Canon U.S.A., Inc.
• HP Development Company, L.P.
• Martin Yale Industries, LLC.
• Dahle North America, Inc.
• Brother
• Ricoh
• Dell
• Gcc printer
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs) 

Recent Development

• In June 2024, Epson America introduced two A4 color MFPs, the AM-C550 and AM-C400, to its WorkForce Enterprise AM Series, featuring simplified designs that reduced maintenance parts, minimized downtime, and decreased energy usage and waste for improved employee productivity.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global office peripherals and products market based on the below-mentioned segments: 

Global Office Peripherals And Products Market, By Product 

• Bill Counters
• Coin Sorters
• Counterfeit Detectors
• Safes, Deposit Boxes, and Cash Handlers
• Shredders (Paper and Plastics)
• Laminators
• Printers, Scanners, and Photocopiers
• Other Products

Global Office Peripherals And Products Market, By Application

• Business Use
• Governmental Use
• Personal Use
• Other Applications

Global Office Peripherals And Products Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East and Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East and Africa