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Photographic And Photocopying Equipment Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Photographic And Photocopying Equipment Global Market Report 2021: COVID 19 Impact and Recovery to 2030

  • January 2021
  • 300 pages
  • ID: 6009810
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major companies in the photographic and photocopying equipment market include Canon Inc; Xerox Corporation; Avid Technology Inc; X-Rite Incorporated and Ricoh Electronics.

The global photographic and photocopying equipment market is expected to grow from $23.31 billion in 2020 to $24.33 billion in 2021 at a compound annual growth rate (CAGR) of 4.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $30.58 billion in 2025 at a CAGR of 6%.

The photographic and photocopying equipment market consists of sales of photographic and photocopying equipment by entities (organizations, sole traders and partnerships) that produce photographic and photocopying equipment such as cameras (except television and video), projectors, film developing equipment, photocopying equipment, and microfilm equipment. The photographic and photocopying equipment market is segmented into cameras (except television and video); projectors; photocopying equipment; and other photographic and photocopying equipment manufacturing.

Western Europe was the largest region in the global photographic and photocopying equipment market, accounting for 46% of the market in 2020. Asia Pacific was the second largest region accounting for 32% of the global photographic and photocopying equipment market. Africa was the smallest region in the global photographic and photocopying equipment market.

Projector manufacturers are offering laser projectors to customers seeking energy efficient equipment that offer high quality images. Laser projectors use laser light source whereas traditional projectors use xenon lamps. Laser projectors offer high quality images, vivid color reproduction, and 20000 hours of maintenance-free operation. Laser projectors are comparatively energy efficient, and last longer than lamp-based projectors. Laser projectors are widely used in business presentations, home theatre systems, gaming, and movie screening. Due to these benefits, laser projectors are one of the fastest growing segments of the projector market. Major companies manufacturing laser projectors are Epson, Casio, Sony, Christie, and Panasonic.

The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on photographic and photocopying equipment manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Manufacturers depend heavily on supply of raw materials from domestic and international suppliers. As many governments restricted the movement of goods across countries and locally, manufacturers had to halt production due to lack of raw materials. The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the photographic and photocopying equipment manufacturing market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy

The photographic and photocopying equipment manufacturing market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in the end user markets, thereby driving the market during forecast period.

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