Office Supplies Market: Current Analysis and Forecast (2022-2028)
Office supplies are consumables and equipment regularly used in offices by businesses and other organizations, by individuals engaged in written communications, recordkeeping or bookkeeping, janitorial and cleaning, and for storage of supplies or data. According to CB Insights, in December 2022, there were around 1183 billion dollar startups. One of the key drivers of market expansion is the rising literacy rates around the world and the rising number of young people that are leaning toward higher education. Moreover, the market is expanding due to the sudden rise in start-ups that helped in developing the field of office supplies. In 2022, there were almost 900 unicorn startups in the world, valued at more than USD 3.5 trillion combined. As a result, growing employment in these industries has a considerable impact on the market expansion.
The Office Supplies Market is expected to grow at a steady rate of around 2% owing to the rise of the computer/printer stationery market. This is primarily driven by improvements in digital printing technology and computer equipment technology. Also, the high adoption of computers in multinational companies is due to digitalization that hits the corporate sector. For instance, on 26 October 2022, International Data Corporation (IDC) Spending Guide estimated worldwide digital transformation investments reaching USD 3.4 trillion in 2026.
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