Like the rest of the industries, the worldwide market for office equipment experienced sluggish growth rates in the late-2000s and early-2010s decades as a result of the global economic meltdown and Eurozone’s economic crisis. However, the situation has improved in the mid-2010s decade since a stable global economy has equally stabilized the industry’s growth as per the predictions made earlier in the decade. A preview of a study published at the PRWEB website in January 2012 predicted that the value of the worldwide office equipment market would rise to $78 billion by 2015. These predictions simply imply that the overall sales of global office machines have stabilized and established industry players are reaping the benefits of these market transformations. With the industry’s sales graph heading north, businesses whose operations are dependent on market performance trends of global office machines now have something to write home about.
A preview of Australia’s office equipment market
A shift to the analysis of the trends of global office machines sales in Australia also paints a promising picture for the industry’s current performance and future prospects. A snapshot of an industry report published at the IBISWorld website in September 2015 indicated that manufacturers of electronic office equipment and computers in Australia generated revenue worth $838 million. The report further predicted that the industry’s annual growth rates in Australia will average 0.3 percent between 2011 and 2016. This is definitely good news for an industry that had been slowed down by the 2008 global economic crisis. The impressive findings of the report also underscore the resilience of the Australian office machines industry.
The impact of growth to the complimentary industries
The higher the growth rates of unit sales of office equipment and machines the greater their impacts to the successes of complimentary industries. Indeed, an analysis of the global office machines market cannot be complete without insights into its impact on complimentary industries such as franchise equipment distributors, office equipment repairs, stationery suppliers, and courier services providers. For example, there are those businesses that specialize in the distribution of parts and spares for office machines, those that provide repair services and those that supply items such as cartridges and inks. All these sub sectors are thriving with the boom of global office machines market. Click here Gom for more details.
The innovation factor
Innovation has become one of the most critical trans formative components of the global office machines market. Innovation determines the way these machines are manufactured but also the manner they are used in offices. Factors such as growing sensitivity towards environmental protection have triggered the concepts such as paperless office. In turn, this has prompted manufacturers of office machines and equipment, such as advanced scanners and fax machines, to adopt innovative technologies that can process office documentations without the use of papers. The impact of innovations can be felt across different sectors of the economy. For example, banking has almost become absolutely paperless and more and more banks eliminate the need of customers to fill out deposit or withdrawal slips when performing banking transactions. Other innovations smartphone printing applications are similarly transforming the manufacturing specifications of modern office equipment.