LONDON--(BUSINESS WIRE)--According to the latest procurement intelligence report from Technavio, the global IT peripherals market is expected to decline at a CAGR of 3.5% during the forecast period. However, the market is expected to grow in APAC, in countries such as India, China, and Australia due to a shift in production facilities to low-cost countries.
The research report titled ‘Global IT Peripherals: Procurement Intelligence Report 2016-2020’ provides an in-depth analysis of category spend, best procurement practices and cost saving opportunities, aimed at helping organizations achieve superior business performance. The report also provides insights on pricing, supplier positioning and top companies, enabling sourcing professionals to improve their competitive advantage through procurement excellence.
“MNCs are eyeing emerging markets due to the low capital requirements in these markets. This has enabled the market for peripherals in APAC to grow by 4% over the past five years,” says lead Technavio procurement specialist Angad Singh for category spend intelligence. “Also, the peripherals industry is increasingly focusing on adopting wireless connectivity. The sales of low-energy Bluetooth devices are expected to reach 60 million units by 2019,” adds Angad.
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Cost saving opportunities in the IT peripherals market
The adoption of various cost-optimization levers helps buyers of IT peripherals realize direct cost savings and enhance category management and value benefits (including reduced procurement complexities).
Technavio procurement experts have segmented the cost saving opportunities in the IT peripherals market into the following value-enhancement opportunities:
- Adoption of technology
- Supplier Competition
- Adoption of negotiation strategies
- Optimization of procurement practices
- Bundling of services
Adoption of technology saving aspects
The adoption of technologies such as automation of entire assembly lines, use of analytical tools, standardization of cables and jacks, and recycling of e-waste will help to reduce costs to the extent of 10% of total category spend.
Due to an increase in environmental awareness, buyers are looking to adopt energy-efficient electronic peripherals. There is also a surge in demand for such devices due to firms voluntarily undergoing energy and green audits to boost their image.
Competition among suppliers saving aspects
Technavio analysts suggest competitive bidding among suppliers to enable price discounts and negotiations on value-added services such as customization, to help implement savings to the extent of 7%.
Market analysts have found that large organizations prefer engaging with suppliers that can offer customized peripherals to fulfill specific business requirements. For example, suppliers such as Dell and HP sell customized keyboards and built-to-order printers to cater to specific requirements of buyers.
Bundling of services saving aspects
One of the most opportunistic strategic cost saving levers in the global IT peripherals market is the need for consolidation of peripherals with software, service, maintenance, and repair. Buyers prefer to engage with suppliers that can be easily contacted in case of malfunction of peripherals such as printers, monitors, and projectors, as this reduces downtime and helps minimize the loss of productivity. For example, Lenovo resolves complaints within 24 hours if there is a Lenovo service station in the buyer’s city.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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