The global managed print services market size reached US$ 42.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 69.3 Billion by 2028, exhibiting a growth rate (CAGR) of 8.4% during 2023-2028.
Managed print services (MPS) are customized and integrated solutions used for streamlining the printing fleet of the organizations. They are offered by third-party service providers to optimize and manage the overall document output generated by the enterprises. MPS can be deployed on-premises, on cloud or in hybrid environments. It involves the assessment, selective or general replacement of hardware and service components and tracking of printers, fax machines, scanners, copiers and multipurpose printing (MFP) devices. MPS anticipates the printing requirements by analyzing organizational operations and providing enhanced visibility and control of the input and output. This aids in minimizing costs, preventing device downtime and optimizing the usage of ink, paper and energy.
Managed Print Services Market Trends:
Rapid digitization across the industries, such as banking, financial services and insurance (BFSI), education, healthcare, telecommunication, information technology (IT) and manufacturing, is one of the key factors driving the market growth. For instance, the BFSI industry extensively uses MPS to manage time-consuming record-keeping tasks and optimize the overall printing operations. Moreover, the increasing requirement for analytics and cloud computing solutions to manage resource utilization in the organizations is providing a thrust to the market growth. In line with this, the implementation of favorable initiatives to minimize paper wastage at workspaces is also contributing to the growth of the market. Additionally, various technological advancements, such as the integration of connected devices with the Internet of Things (IoT) and big data solutions, are acting as other growth-inducing factors. These innovative technologies provide enhanced mobility and security and streamline business workflows. Other factors, including the increasing adoption of sustainable solutions for business processes, along with significant improvements in the IT infrastructure, especially in the developing economies, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global managed print services market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, deployment mode, organization size and industry vertical.
Breakup by Type:
Discovery and Design
Breakup by Deployment Mode:
Breakup by Organization Size:
Breakup by Industry Vertical:
Healthcare and Education
Retail and Consumer Goods
IT and Telecom
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being ARC Document Solutions Inc., Brother Industries Ltd., Canon Inc., HP Inc., Konica Minolta Inc., Lexmark International Inc., Ricoh Company Ltd., Sharp Corporation, Toshiba Corporation, WeP Solutions Ltd and Xerox Corporation.
Base Year of the Analysis
Type, Deployment Mode, Organization Size, Industry Vertical, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
ARC Document Solutions Inc., Brother Industries Ltd., Canon Inc., HP Inc., Konica Minolta Inc., Lexmark International Inc., Ricoh Company Ltd., Sharp Corporation, Toshiba Corporation, WeP Solutions Ltd and Xerox Corporation
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Key Questions Answered in This Report
The global managed print services market was valued at US$ 42.5 Billion in 2022.
We expect the global managed print services market to exhibit a CAGR of 8.4% during 2023-2028.
The rising need for minimizing paper wastage at workspaces, along with the growing utilization of managed print services to manage time-consuming, record-keeping tasks and optimize the overall printing operations, is primarily driving the global managed print services market.
The sudden outbreak of the COVID-19 pandemic has led to the increasing adoption of managed print services to enhance mobility and security and streamline business workflows, during the remote working scenario.
Based on the type, the global managed print services market has been divided into print management, device management, discovery and design, and document imaging. Among these, device management currently exhibits a clear dominance in the market.
Based on the deployment type, the global managed print services market can be categorized into on-premises and cloud-based. Currently, cloud-based accounts for the majority of the global market share.
Based on the organization size, the global managed print services market has been segregated into large enterprises, medium enterprises, and small enterprises. Among these, large enterprises currently exhibit a clear dominance in the market.
Based on the industry vertical, the global managed print services market can be bifurcated into BFSI, government, healthcare and education, manufacturing, retail and consumer goods, IT and telecom, and others. Currently, BFSI holds the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global managed print services market include ARC Document Solutions Inc., Brother Industries Ltd., Canon Inc., HP Inc., Konica Minolta Inc., Lexmark International Inc., Ricoh Company Ltd., Sharp Corporation, Toshiba Corporation, WeP Solutions Ltd, and Xerox Corporation.
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