Managed Print Services Market

Market Overview:

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:

• Print Management
• Device Management
• Discovery and Design
• Document Imaging
   

Breakup by Deployment Mode:

• On-premises
• Cloud-based
   

Breakup by Organization Size:

• Large Enterprises
• Medium Enterprises
• Small Enterprises
   

Breakup by Industry Vertical:

• BFSI
• Government
• Healthcare and Education
• Manufacturing
• Retail and Consumer Goods
• IT and Telecom
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

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.

Report Coverage: