Documentation solutions provider, Kyocera Document Solutions India, is planning to corner an 18 to 20 per cent share of the Indian multi-function product (MFP) market, from the present 15 per cent, over the next five years, according to managing director K Swethanarayan.
Kyocera Document Solutions India (formerly known as Kyocera MITA India) was formed in March 2008 as a wholly-owned subsidiary of $3.5-billion Japanese technology giant Kyocera Document Solutions Inc.
“Primarily, major corporates and the government segment are expected to deliver this above-the-market growth. The recently-launched low-end printer and MFP lineup, too, is expected to add to this growth,” Swethanarayan told Business Standard.
The Indian A3 MFP market, dominated by players like Canon, Ricoh and Xerox, is pegged at 110,000 units a year. While the market is growing at 9-10 per cent year-on-year, Kyocera is growing at 40 per cent, he said, adding that of the total market, the share of colour MFPs was only 10 per cent, as against over 50 per cent in places like Hong Kong and Australia.
“This gives us an opportunity to grow phenomenally in India, provided the products are made affordable,” Swethanarayan said.
Stating that managed document services were expected to drive the company’s future growth as more and more corporates were refraining themselves from buying capital assets and instead, going in for services, Swethanarayan said the company was lining up a new range of high-end colour and mono MFPs – from 18 ppm (prints per minute) to 55 ppm – in the Indian market in the next one month.
Kyocera’s turnover in India grew six times in the last five years to touch Rs 108 crore in the year ending March 2013. “We hope to close the current year with Rs 150 crore, and touch Rs 500 crore by 2015,” Swethanarayan said, adding that the company would be launching data management solutions and cloud printing software in the domestic market in January 2014.
