Albany, NY -- (SBWIRE) -- 09/29/2015 -- Spurred by high investment in information and communication technology, and the energy sector, African economies are progressing at a rapid pace. African Development Bank recently released a report stating that more than a third of countries in Africa are enjoying annual GDP growth at more than 6%.

Attracted by the tremendously growing market opportunities in Africa, leading printer manufacturers have ventured into this region to capitalize on growing opportunities at a time when global market prospects for printers have turned extremely volatile.

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High demand for multifunction printers or MFP across small and medium sized enterprises and the corporate and government segments is the key factor driving the market for printers in Africa. Additionally, document and MPS services offered by vendors are also crucial across various end-use industries, which have significantly contributed to the growth of the printer market in this region. According to market surveys, the Africa printer market was worth US$2,300.0 million in 2012 and is projected to exhibit a significant 8.8% compound annual growth rate between 2013 and 2019. However, a paradigm shift in workflow from hard copy to electronic formats is likely to pose a major threat to the market.

Laser Printers to Dominate Africa Printer Market

On the basis of product type, the Africa printer market can be segmented into laser, inkjet, and dot-matrix printers. Of these, laser printer dominated the market in 2012 in terms of revenue, followed inkjet printers. In the last couple of years, laser printing has emerged as a key technology used in MFPs. Dot-matrix printers are exclusively demanded by industrial verticals that value cost advantages above quality.

The low cost of laser printers has played a significant role in triggering the printers market in Africa. The upheaval triggered by technological advances, which radically reduced the average cost per color impression, has further spurred the demand for printers in the region. Demand for printers is appreciably high across end-use segments such as the education sector, corporate enterprises, the public sector, the consumer sector, and the printing industry and media. These factors will play a crucial role in ensuring sustainable growth of the printers market in Africa.

South Africa and Botswana to Lead Africa Printer Market

Regionally, the market for printers in South Africa can be segmented into Angola, South Africa, Botswana, Zambia, Madagascar, Namibia, Mozambique, Zimbabwe, Tanzania, and Rest of Africa. Among these, South Africa was the largest market for printers in 2012, accounting for 20.8% of the overall market. Factors such as increasing demand for managed print services coupled with large format printers and MFP have contributed to the high demand for printers in this country.

In the last decade, Botswana has witnessed rapid expansion of industries such as banking and finance and telecom. This has significantly boosted the demand for printers. Increasing deployment of MFPs and laser color printers across these industrial verticals in Botswana will result in high demand from the printer market.

Many major vendors in the market, such as Epson, Hewlett-Packard Co., and Brother, have their headquarters located in Asia Pacific countries such as Japan and Taiwan. To ensure unhindered operation in Africa, these noted enterprises operate through a network of distributors and resellers. However, this also increases transaction in foreign currencies, which construes high risk. Therefore, it is imperative for producers to manage their operations in Africa in collaboration with highly structured and efficient distribution partners.

Some of the leading vendors in the Africa printers market are Hewlett-Packard Development Co. LP, Canon, Inc., Brother Industries, Ltd., Seiko Epson Corp, and Samsung Electronics Co. Ltd.

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