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Lexmark has been named a Leader in the IDC MarketScape: Worldwide Print Transformation 2023 Assessment
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IoT solutions like Optra Edge and Optra IoT Platform, allows Lexmark to deliver business value in diverse markets
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Strategically targeting customers in banking, retail, manufacturing, and federal agencies, enables the company to harness IoT
Lexmark, the global imaging and IoT solutions leader, has been recognized as a Leader in the 'IDC MarketScape: Worldwide Print Transformation 2023 Assessment.' This recognition highlights Lexmark's commitment to leveraging device data analytics expertise for IoT solutions.
Lexmark operates globally and is known for its strong presence in various sectors, including the top global banks, retailers, pharmacy chains, manufacturers, and federal agencies. These markets include manufacturing quality control, connected products, transportation operations, and retail. Its success is attributed to its device data analytics experience, which led to the development of IoT solutions like Optra Edge and Optra IoT Platform. By harnessing data and analytics, Lexmark has evolved its transformation strategy to drive positive business outcomes for customers.
Lexmark has a history of recognition in IDC MarketScape reports, including managed print and document services/document workflow services, Worldwide Security Solutions and Services Hardcopy, highlighting their consistent leadership in the industry. This recognition by IDC reflects Lexmark's continuous commitment to emerging technologies and its ability to deliver value to customers by applying its technological expertise to address unique challenges in imaging and beyond.
Lexmark President and CEO, Allen Waugerman, remarked,
We are honored to again receive this IDC MarketScape recognition, which recognizes our early commitment to emerging technologies that enables us to deliver more value to customers in existing and new markets. Lexmark's designation as a Leader by IDC reflects our long-standing vertical market approach, enabling us to apply our technological expertise and address each customer's unique challenges in imaging and beyond.
[Source: Cision PR Newswire]
According to the report, Lexmark's transformation strategy evolved from the company's managed print services go-to-market strategy, referring to its device data analytics expertise. These same principles are applied to the company's adjacent entry into IoT solutions with data analytics, Optra Edge and Optra IoT platform. Also, Lexmark targeted industry opportunities where the company has an existing strong presence and knowledge as its existing customer base includes seven of the top 10 global banks, nine of the top 10 global retailers, eight of the top 10 global manufacturers, all top 10 U.S. retail pharmacy chains, and seven of the top 10 U.S. federal agencies.
The company's strength lies in its transformative approach, incorporating data analytics into IoT solutions, targeting industry opportunities where they have a strong presence, and defining clear avenues of growth in existing customers, expanded vertical and geographic targets, and new go-to-market channels.