London, 29 May 2015: Technavio, the independent tech-focused global research firm, has published a report on the office stationery, supplies, and services market in the GCC 2015-2019, which is expected to grow at a CAGR of 18.77% during the forecast period of 2014-2019.
The market for office stationaries, supplies, and services in the Gulf Cooperation Council (GCC) is expected to increase due to the fast paced economic growth of the country. Increased birthrates and development of the education sector in this region are expected to boost market growth of the office stationery, supplies, and services market in the GCC.
“The number of customers who are ‘going green’ is increasing, and the effect of this trend is visible in the buying patterns of individual consumers and commercial users, reducing the demand for paper and paper-based products,” says Faisal Ghaus, Vice President of Technavio.
“Vendors feel buoyed by the high potential of eco-friendly products to shape the market during the forecast period, and are focusing increasingly on corporate social responsibilities.”
Key Market Drivers:
- Economic development in GCC countries.
- High demand from education sector and SMEs.
- Expansion of SOHO segment.
- Growth in underpenetrated markets.
Key Market Trends:
- Demand for environmentally friendly products.
- Shift to online retail.
- Increase in value-added products.
- Growing presence of German companies.
Key Market Vendors:
- 3M Co. Ltd
- Avery Dennison Corp.
- Jarir Marketing Co.
- Office Depot Inc.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
