Global Managed Print Services
Market Report
2024
The Global Managed Print Services market volume was USD 38.2 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 8.9% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, The Global Managed Print Services market volume was USD 38.2 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 8.9% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Managed Print Services Market Sales Revenue 2022 | $ 38.2 Billion |
Global Managed Print Services Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 8.9% |
Market Split by Channel Type |
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Market Split by End Users |
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Market Split by Deployment |
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Market Split by Enterprise Size |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Managed Print Services Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
To manage the output of business documents, outside print suppliers offer managed print services (MPS). Managed print services (MPS), which enable digital technologies and printing services, securely manage the print and scan infrastructure of homes and businesses.The increased use of managed print services (MPS) among various end users drives the global market.
These advancements enable companies to provide more customized solutions and services, which fuels the expansion of the Managed Print Services market.
For instance, Fisher's Technology bought the managed print services section of VLCM, an IT solutions company, in September 2022. All other business divisions, such as cybersecurity, data centers, BU/DR, virtualization, hybrid clouds, networking, Microsoft, UC, audio/visual, and expert services, will continue to be managed by VLCM.
The growth of the market has been considerably influenced by organizational efforts to reduce paper waste and the adoption of more digital resources. Paper usage is being limited by businesses. Their rise will accelerate in the foreseeable future as managed print services help reduce waste. When businesses use managed print services, the associated costs go down. These cost savings enable businesses to increase their profit margins.
The majority of the business benefits that MPS is anticipated to provide include better service quality and dependability (44%), increased security (43%), increased business process efficiency (40%), and aid with transferring print infrastructure to the cloud (40%).
(Source:h20195.www2.hp.com/v2/getpdf.aspx/4aa8-1111enw.pdf)
According to estimates, the BFSI business will increasingly adopt automation and digitization, which will increase demand for MPS as a way to save costs and streamline the current printing process. Businesses are also emphasizing protection against data breaches and other similar dangers as a result of the increased attention on cyber-security.
From the ordering of products to the transportation and distribution of final goods, printing is a crucial component of company operations for manufacturing organizations. Manufacturing companies are always looking for solutions to preserve critical information and outputs in a secure format.
With their cooperation with a leading cybersecurity company and maker of security cameras, Mobotix, Konica Minolta saw their production print market grow by over 20% between 2021 and 2022, while the solution market grew by 42%. Similar to Mobotix, who have a 19 percent year-over-year growth in the solutions marke.
Manufacturing companies want assistance in lowering office and production printing expenses and enhancing production effectiveness. Additionally, consolidating vendors could lower the cost of printing and imaging, and using fax over IP could do the same.
A significant obstacle to market expansion is the rising usage of digital media. Various tactics are being used by numerous organizations all over the world to cut operational costs. Although purchasing paper may not be expensive for businesses, the expense of storing, the printing process, and copying is expensive. Approximately 30 times as much money is spent on paper operations as there is to pay for the actual paper. As a result, businesses encourage their staff to print the relevant paperwork.
One of the many industries adversely affected by the COVID-19 pandemic outbreak was the managed print services market. Due to the COVID-19 outbreak, the printing sector experienced delays due to self-isolation regulations, manufacturers changing the routes of their suppliers away from manufacturing hubs like China, and modifications to the packaging supplies used for everyday goods. The demand for vital goods has risen due to both sectors' provision of necessities during the pandemic. As a result, managed print services are now more frequently used.
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For their consumers to receive cutting-edge solutions, MPS providers are investing in cutting-edge hardware and software. For the purpose of enhancing the productivity and security of the print environment, they are investing heavily in cloud-based services, loT-enabled devices, and machine learning and artificial intelligence technologies. The market share of providers of managed print services will probably rise as a result of these strategies.
November 2019: Xerox started to pursue a hostile purchase of PC and printer manufacturer HP Inc. after being rejected by HP before. The company announced its intention to "engage directly" with shareholders.
(Source:www.zippia.com/xerox-careers-12997/history/)
July 2022: Go Inspire, a provider of both digital and print marketing and communication services, was purchased by Xerox Corporation in order to grow its technology and printing solutions operations in EMEA.
(Source:www.news.xerox.com/news/xerox-acquires-go-inspire-to-grow-digital-services-presence-in-uk)
Top Companies Market Share in Managed Print Services Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, the market's largest region in 2022 was North America whichaccounted for a proportion of more than 35% of global sales as a result of a number of factors. The North American region dominates the market for Managed Print Services. First, The existence of a sizable number of businesses in the BFSI, IT, healthcare, education, and other industries is the reason for this. These businesses are searching for an approach that would enable them to efficiently manage their printers, print documents, lower total printing expenses, and keep track of all print-related actions.
According to Cognitive Market Research, due to its significant economic size, vast global corporate presence, and diversified population, the United States is anticipated to hold a strong position in the North American area. In the United States, the government and healthcare sectors have embraced managed print services extensively. A rise in demand is also anticipated during the forecast period as a result of strategic acquisitions and a new programme introduced to raise the popularity of managed print services.
The development is attributable to an increase in outsourcing operations and a rise in the demand for affordable printing solutions across many different sector verticals, including healthcare, banking & monetary services, and law & consulting organisations. Additionally, rising business volumes across a number of industries are being caused by population growth, fast industrialization, and urbanisation, which has increased demand for management print services
The current report Scope analyzes Managed Print Services Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Managed Print Services Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Managed Print Services Industry growth. Managed Print Services market has been segmented with the help of its Channel Type, End Users Deployment, and others. Managed Print Services market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, it is anticipated that printer/copier manufacturers would hold a larger proportion of the market due to the increased usage of analytics and cloud computing technologies in printing as well as organizations realizing the usefulness of MPS to take advantage of microdermabrasion's benefits while spending less money overall.
Independent software vendors (ISVs) are the second largest segment of managed print services. These give users access to software tools for usage in print environments. Such third-party products are frequently used by MPS providers to enhance a certain aspect of their MPS offering.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Managed Print Services Industry. Request a Free Sample PDF!
The BFSI category heavily relies on record-keeping for proper operation. A lot of things are done on paper, like applying for loans, opening new accounts, getting a mortgage, and other things. Costs associated with resource investment are expected to be high as a result. To control the additional costs and streamline the entire printing process in the BFSI industry, technology and automation are needed.
Healthcare is the sector of the managed print services market that is expanding at the highest rate. The increased adoption of managed print services in the healthcare sector, which is related to managing and optimising a high-volume print environment while reducing vulnerabilities with thousands of devices, is a major factor in the market's growth.
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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The "on-premises managed print services" (MPS) refers to those services that an organisation or business offers to its employees to manage print tasks. The on-premises MPS suppliers look after and keep an eye on the printers, copiers, and other imaging equipment at the client company's office space. They also handle paper jam problems, printer ink refills, and offer replacement services for any broken parts. With on-premises MPS, a third party is not necessary because the business handles its own printing requirements.
According to Cognitive Market Research, cloud-based is the second largest segment in this market. Businesses can manage and optimise their fleets of printers and copiers with the use of cloud-based managed print services (MPS), a form of subscription service. The service offers routine upkeep, supply restocking, and real-time device utilisation monitoring
In 2022, the segment of medium-sized and small-sized businesses held the majority share and contributed the largest share of the managed print services market revenue.Small and medium-sized organisations are embracing cloud-based MPS quickly around the world due to cost constraints. MPS also assists SMEs in making the best use of available resources and saving money on printing. The rise of SMEs is also supported by governments, who provide incentives, beneficial tax legislation, and easy access to credit.
The market for large businesses is anticipated to experience the fastest CAGR growth. Large businesses utilise MPS extensively to manage time-consuming record-keeping activities and optimise the overall printing operations.
Senior Research Analyst at Cognitive Market Research
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights. Experience in analyzing current trends, market demand, market assessment, growth indicators, competitors' strategy, etc. to help top management & investors to make strategic and tactical decisions in the form of market reports and presentations. Successfully delivered more than 500+ client & consulting assignments across verticals. Ability to work independently as well as with a team with confidence and ease.
I am committed to continuous learning and staying at the forefront of emerging trends in research and analytics. Regularly engaging in professional development opportunities, including workshops and conferences, keeps my skill set sharp and up-to-date. I spearheaded research initiatives focused on market trends and competitive landscapes. I have a proven track record of conducting thorough analyses, distilling key insights, and presenting findings in a way that resonates with diverse stakeholders. Through collaboration with cross-functional teams, I played a pivotal role in shaping business strategies rooted in robust research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Managed Print Services Market is witnessing significant growth in the near future.
In 2023, the Printer/Copier Manufacturers segment accounted for noticeable share of global Managed Print Services Market and is projected to experience significant growth in the near future.
The BFSI segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Xerox Corporation , Zebra Technologies Corporation and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Channel Type | Printer/Copier Manufacturers, System Integrators/Resellers, Independent Software Vendors (ISVs) |
End Users | BFSI, IT & Telecom, Education, Government, Healthcare, Manufacturing, Retail, Others |
Deployment | Cloud, On-premise, Hybrid |
Enterprise Size | Small and Medium Enterprise, Large Enterprise |
List of Competitors | Xerox Corporation, FUJIFILM Business Innovation Corp., Zebra Technologies Corporation, ARC Document Solutions, Inc., KYOCERA Document Solutions Inc., Ricoh Company, Ltd. |
This chapter will help you gain GLOBAL Market Analysis of Managed Print Services. Further deep in this chapter, you will be able to review Global Managed Print Services Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Managed Print Services Market Trends North America Managed Print Services Technological Road Map North America Managed Print Services Market Drivers North America Managed Print Services Market Restraints North America Managed Print Services Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
You can purchase only the Executive Summary North America Market (2019 vs 2024 vs 2031)
Chapter 3 Europe Market Analysis
You can purchase only the Executive Summary Europe Market (2019 vs 2024 vs 2031)
Chapter 4 Asia-Pacific Market Analysis
You can purchase only the Executive Summary Asia Pacific Market (2019 vs 2024 vs 2031)
Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Channel Type Analysis 2019 -2031, will provide market size split by Channel Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Channel Type Analysis 2019 -2031
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Chapter 11 Market Split by End Users Analysis 2019 -2031
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Chapter 12 Market Split by Deployment Analysis 2019 -2031
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Chapter 13 Market Split by Enterprise Size Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Managed Print Services market
Chapter 14 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Printer/Copier Manufacturers have a significant impact on Managed Print Services market? |
What are the key factors affecting the Printer/Copier Manufacturers and System Integrators/Resellers of Managed Print Services Market? |
What is the CAGR/Growth Rate of BFSI during the forecast period? |
By type, which segment accounted for largest share of the global Managed Print Services Market? |
Which region is expected to dominate the global Managed Print Services Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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