Managed Print Services Market cover

Managed Print Services Market by Applications (Healthcare, Industrial Manufacturing, Retail & Consumer goods, Telecom & IT, BFSI, Education, Government, and Others), Channels (System Integrators, Printers/Copiers Manufacturers, and Independent Software Vendors), Deployments (Hybrid, On-premises, and Cloud-based), Organizations (Large Enterprises and Small & Medium Enterprises), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: FB-3367
  • Author: Growth Market Reports
  • Rating: 4.2
  • Total Reviews: 9
  • No. Of Pages: 190
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The global managed print services market size was valued at USD 27.61 billion in 2020 and is expected to expand at a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to a rigorous rule to reduce paper waste and save operating costs.


Managed Print Services Market summary

Managed print services (MPS) are widely adopted by business organizations to enhance their operations through managing the track of their entire documents that optimizes their document output. MPS aids in the analysis of printing requirements, the reduction of local printers, the replacement of inefficient devices, the automation of supply delivery, the management of remote printing operations, and the attainment of predictability. These services offer various advantages such as reduced energy consumption, reduced paper waste, freeing up IT resources, and customized solutions. MFPs and conventional printers are the two devices on the network that handle and store a certain amount of complicated business material on a regular basis. These printers have access to the internet, email, enterprise content management systems, and cloud-based document repositories on a regular basis. New technologies with automated ordering capabilities enable the printer to assess its requirements and place a purchase order with the supplier before supplies run out. Advanced printers have a two-sided print capability that helps to reduce paper waste.

The COVID-19 pandemic had resulted in national lockdowns and stay-at-home orders that forced to start implementing remote working. Due to the impact of pandemic, some companies have purchased home printers through their MPS providers while others have relied on simple transactional internet procurement. However, the print volumes in offices are still declining and may take time to return to pre-pandemic levels.

Market Trends, Drivers, Restraints, and Opportunities

  • Increasing reliance on heterogeneous networks of applications and infrastructure of offices is expected to drive the market growth during the projected period.
  • Managed print service companies give competent technical assistance that can enhance business operations. This is a key driver of the market.
  • Lower operating costs and more flexibility to meet specific needs for printing activities of companies are expected to boost the market growth in the given timeline.
  • Skepticism about the efficiency and usefulness of managed print services along with high expenditure on maintenance are major restraining factors, which can hinder the market growth in the coming years.
  • Using analytics and cloud computing to maximize companies’ full potential are vital factors offering lucrative growth opportunities of the market.

Scope of the Report

The report on the global managed print services market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Managed Print Services Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Applications (Healthcare, Industrial Manufacturing, Retail & Consumer goods, Telecom & IT, BFSI, Education, Government, and Others), Channels (System Integrators, Printers/Copiers Manufacturers, and Independent Software Vendors), Deployments (Hybrid, On-premises, and Cloud-based), and Organizations (Large Enterprises and Small & Medium Enterprises)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Ricoh; Lexmark; Xerox Corporation; HP; and Canon

Market Segment Insights

BFSI segment to expand at a considerable CAGR

On the basis of applications, the managed print services market is segregated into healthcare, industrial manufacturing, retail & consumer goods, telecom & IT, BFSI, education, government, and others. The BFSI segment is projected to expand at a considerable CAGR during the forecast period owing to high pile of paperwork and other files are required in the banking and financial industries. The confidentiality and security of these paper files has to be preserved to ensure document's security and privacy.

Printers/copiers manufacturers segment to hold a significant share of the market

In terms of channels, the market is divided into system integrators, printers/copiers manufacturers, and independent software vendors. The printers/copiers manufacturers segment is expected to represent significant share of the market due to the rising number of start-ups for printer manufacturing. However, the system integrators segment accounts for significant market share as system integrators are a type of channels that sell printers, copiers, as well as other products as part of a larger managed IT services package.

Hybrid segment to grow during the forecast period

Based on deployments, the managed print services market is segregated into hybrid, on-premises, and cloud-based. The hybrid segment is expected to grow at a significant rate during the projected period owing to rising deployment of the product as it offers combine advantages of cloud-based and on-premise systems.  Moreover, the cloud-based segment is expected to be a fast-growing segment during the forecast period as it is paid for on a monthly or annual subscription basis, with support and training expenses added on top.


Managed Print Services Market deployment

Large enterprises segment dominated the market

On the basis of organizations, the market is bifurcated into large enterprises and small & medium enterprises. The large enterprises dominated the market in 2020 and is projected to register high CAGR during the projected timeline as they are responsible for overseeing the linked activities and procedures of big-sized business organizations. Any danger, assault, malware, or spams, as well as other exposures, can compromise these processes. As a result, the demand for MPS in major businesses is increasing rapidly. The small & medium enterprises segment, however, is expected to grow rapidly in the coming years as to avoid blunders and malware assault of networks deployed by various small scale companies.

Asia Pacific is anticipated to constitute a key market share

In terms of regions, the managed print services market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the projected period due to increased use of advanced printing technology in the fields of education and healthcare in the region. However, the market of North America is anticipated to expand at a rapid pace during the forecast period. As over the next eight years, strategic acquisitions and a new campaign to raise awareness of managed print services are expected to increase in the region.


Managed Print Services Market region

Segments

Segments Covered in the Report

The global managed print services market has been segmented on the basis of

Applications

  • Healthcare
  • Industrial Manufacturing
  • Retail & Consumer goods
  • Telecom & IT
  • BFSI
  • Education
  • Government
  • Others

Channels

  • System Integrators
  • Printers/Copiers Manufacturers
  • Independent Software Vendors

Deployments

  • Hybrid
  • On-premises
  • Cloud-based

Organizations

  • Large Enterprises
  • Small & Medium Enterprises

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Ricoh
  • Lexmark
  • Xerox Corporation
  • HP
  • Canon

Competitive Landscape

Key players competing in the managed print services market are Ricoh; Lexmark; Xerox Corporation; HP; and Canon. The global market for managed print services is fiercely competitive as it is absolutely required for the existing market players to upgrade their product portfolios. System integrators and independent software providers have a lot of room to grow in the MPS industry. Large scale adoption of cloud-based deployment methods associated with managed print services has given prospective opportunities for companies such as Xerox Corporation and HP to obtain a significant portion of the MPS market.

Managed Print Services Market keyplayers

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. managed print services Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. managed print services Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. managed print services Market - Supply Chain
  4.5. Global managed print services Market Forecast
     4.5.1. managed print services Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. managed print services Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. managed print services Market Absolute $ Opportunity
5. Global managed print services Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. managed print services Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global managed print services Demand Share Forecast, 2019-2026
6. North America managed print services Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America managed print services Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America managed print services Demand Share Forecast, 2019-2026
7. Latin America managed print services Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America managed print services Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America managed print services Demand Share Forecast, 2019-2026
8. Europe managed print services Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe managed print services Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe managed print services Demand Share Forecast, 2019-2026
9. Asia Pacific managed print services Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific managed print services Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific managed print services Demand Share Forecast, 2019-2026
10. Middle East & Africa managed print services Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa managed print services Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa managed print services Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global managed print services Market: Market Share Analysis
  11.2. managed print services Distributors and Customers
  11.3. managed print services Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Ricoh
     11.4.2. Lexmark
     11.4.3. Xerox Corporation
     11.4.4. HP
     11.4.5. Canon

Segments Covered in the Report

The global managed print services market has been segmented on the basis of

Applications

  • Healthcare
  • Industrial Manufacturing
  • Retail & Consumer goods
  • Telecom & IT
  • BFSI
  • Education
  • Government
  • Others

Channels

  • System Integrators
  • Printers/Copiers Manufacturers
  • Independent Software Vendors

Deployments

  • Hybrid
  • On-premises
  • Cloud-based

Organizations

  • Large Enterprises
  • Small & Medium Enterprises

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Ricoh
  • Lexmark
  • Xerox Corporation
  • HP
  • Canon

Key players competing in the managed print services market are Ricoh; Lexmark; Xerox Corporation; HP; and Canon. The global market for managed print services is fiercely competitive as it is absolutely required for the existing market players to upgrade their product portfolios. System integrators and independent software providers have a lot of room to grow in the MPS industry. Large scale adoption of cloud-based deployment methods associated with managed print services has given prospective opportunities for companies such as Xerox Corporation and HP to obtain a significant portion of the MPS market.

Managed Print Services Market keyplayers

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