According to the latest report by IMARC Group, titled, “Managed Print Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global managed print services market size reached US$ 38.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 64.1 Billion by 2027, exhibiting a growth rate (CAGR) of 8.7% during 2022-2027.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Managed print services (MPS) refer to the customized and integrated solutions that are utilized for streamlining the printing fleet of an organization. They are usually offered by third-party service providers to manage and optimize the overall document output generated by enterprises. MPS can be deployed on-premises, on the cloud, or in hybrid environments. They involve the assessment, general or selective replacement of hardware and service components, tracking of fax machines, printers, scanners, etc. MPS help in reducing costs, preventing device downtime, optimizing the usage of ink, paper, energy, etc.
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Managed Print Services Market Trends and Drivers:
The increasing digitization across various industries, including banking, financial services and insurance (BFSI), education, healthcare, telecommunication, etc., is primarily driving the managed print services market. Furthermore, the growing requirement for analytics and cloud computing solutions to manage resource utilization is also propelling the market growth. Besides this, the implementation of numerous initiatives to minimize paper wastage at workspaces is further augmenting the market. Additionally, several technological advancements, such as integrating connected devices with the Internet of Things (IoT) and Big Data solutions, are also catalyzing the product demand. Apart from this, the rising adoption of sustainable solutions for business processes, coupled with continuous improvements in the IT infrastructures, are expected to fuel the managed print services market over the forecasted period.
Managed Print Services Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- 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
- Xerox Corporation.
The report has segmented 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
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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