Epson says it is on a journey of transformation, shifting from printing hardware to total printing solutions as part of its sustainable growth strategy.
The company is seeking more opportunities in the commercial and industrial sectors amid an uncertain global economy as the US changes trade priorities.
In fiscal 2025, which begins in April for Epson, the business-to-business (B2B) segment will account for 25% of its total revenue before increasing to 30% in the next fiscal year, said Yunyong Muneemongkoltorn, managing director of Epson (Thailand) Co Ltd.
"2025 will be a year of transformation, bringing both opportunities and challenges for business growth," said Mr Yunyong.
He said Epson has to offer a total solution combining hardware, software and services, including various financial options such as rental and subscription through its partners, in a bid to tap more customers in the corporate and industrial sectors.
The government sector is adopting digital transformation, increasing demand for high-performance printing and projection solutions, said Mr Yunyong.
Meanwhile, the growth of small and medium-sized enterprises and startups is amplifying the need for cost-effective and efficient printing solutions, he said.
Mr Yunyong says the growth of small firms and startups amplifies the need for efficient printing solutions.
Sustainability is another factor driving the market, encouraging Thai businesses to adopt more sustainable printing technologies to reduce the environmental impact.
In addition, the rapid growth of the e-commerce sector, especially in IT, is another propellant, said Mr Yunyong. According to market research company GFK, the local online IT market grew in value by 10% last year, compared with a 6.7% contraction in offline sales over the same period.
For multi-function printers, 58% of sales were offline, while 42% were online. However, this growth faces the challenge of rising service fees on online marketplaces.
He said global economic uncertainties remain a concern, especially the potential impact of US President Donald Trump's trade policies, which could influence Thailand's economic expansion, foreign investments, and the relocation of manufacturing bases.
Epson aims for 6% business growth in 2025, with its corporate inkjet printer segment leading the way, targeting companies seeking its eco-friendly innovations.
The firm plans to introduce personalised Epson printing studios for those who want to provide total printing solutions such as custom apparel, gift and corporate merchandise, promoting a low investment amount and quick return on investment.
Epson wants to expand managed print services to provide printer and copier management solutions, while introducing mixed fleet solutions that integrate multiple printer models into a single managed offering, said Mr Yunyong.
In the commercial and industrial printing segment, Epson is committed to becoming a leader in digital transformation, he said.
The company is advancing through growth in sign printing, developing and diversifying solutions to meet a broader range of business needs, and driving innovation in textile printing, said Mr Yunyong.
For the projector segment, the company will launch new models for educational applications and showcase hybrid meeting solutions and tailored solutions to corporate clients and private schools, he said.
Epson plans to expand its presence in the high-brightness projector segment for corporate clients, increasing market share from 43% to 50% this year, said Mr Yunyong.
Moreover, Epson is set to launch a projector for golf simulation, partnering with three golf simulation software developers and golf industry partners to drive sales.
In fiscal 2024, Epson Thailand grew 5%, compared with 0.4% growth in the overall IT market by value, thanks to the B2B segment. The company remained the market leader across multiple product categories, with EcoTank printers securing a 43% market share for ink tank printers, while projectors commanded a 52% share.