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“The reducing cost of operation and flexibility to match custom requirements, increase in dependency over heterogeneous networks of applications, and infrastructure drives the growth of the managed print services market”
The managed print services market was valued at USD 28.40 billion in 2016 and is expected to reach USD 50.78 billion by 2023, at a CAGR of 8.51% between 2017 and 2023. The acceptance of new technologies in printing and print-related infrastructure is the major factor that drives the growth of the managed print services market. Major restraining factors for the growth of managed print services market include doubt in efficiency and effectiveness of managed print services and long-term recurring expenditure.
“Government applications market for managed print services is expected to grow at the highest rate during the forecast period”
Government applications indulge a huge volume of paperwork that needs to have secure access to all the public data due to its sensitivity. MPS in government applications helps in assessing the actual cost getting incurred for different print applications to keep the track of printing environment and reducing wastage in organizations.
“The small and medium enterprises (SMEs) are expected to grow at the highest rate during the forecast period”
Small and medium enterprises (SMEs) are expected to grow at the highest rate during 2017 and 2023. The SMEs are increasing in different geographies and are focused on managing their operations and processes rather than being diverted by any threat, attack, malware, or spams, and any other such vulnerabilities. Due to this reason, the demand for MPS is more in such organizations and is increasing day by day.
Some of the major players in the managed print services market are Xerox Corporation (US), HP Development Company, L.P. (US), Ricoh Company, Ltd. (Japan), and Lexmark International, Inc. (US).
“Managed print services market in APAC is expected to grow at the highest rate between 2017 and 2023”
APAC is one of the prospective markets for this technology. APAC has witnessed one of the fastest growths in industrialization over the past decade, which creates MPS opportunities in the geography. Along with the growing economies and industrial development, APAC is expected to be the fastest growing market for MPS by 2023.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with the key experts.
The breakup of the profiles of primary participants is as follows:
- By Company Type: Tier 1?55 %, Tier 2?20%, and Tier 3?25%
- By Designation: C-Level Executives?34%, Directors?33%, and Others?33%
- By Geography: North America?37%, Europe?34%, APAC?20%, and ROW?9%
Companies that provide a range of customized solutions to customers are expected to emerge as the game changers.
This report profiles some of the follwoing key players in this market:
1. Xerox Corporation
2. Ricoh Company, Ltd.
3. HP Development Company, L.P.
4. Konica Minolta, Inc.
5. Canon, Inc.
6. Lexmark International, Inc.
7. Kyocera Corporation
8. Samsung Electronics Co. Ltd.
9. Sharp Corporation
10. Toshiba Corporation
11. ARC Document Solutions, Inc.
12. Pitney Bowes
13. Wipro Limited
14. Print Audit
15. Ingram Micro Inc.
This report covers the managed print services market based on transportation type, components, and geography. A detailed analysis of the key industry players has been done to provide insights into their business, products and services, and key strategies such as product launches, mergers and acquisitions, partnerships, agreements, and collaborations associated with the managed print services market.
Key Benefits of Buying the Report
The report would help the market leaders or new entrants in the following ways:
- This report segments the overall market comprehensively and provides the closest approximations of the global managed print services market size and that of the subsegments across different applications and regions.
- The report helps stakeholders to understand the pulse of the market and provides them information on key drivers, restraints, challenges, and opportunities in the managed print services market.
- This report would help stakeholders to better understand their competitors and gain more insights to enhance their position in the market.
- The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers and acquisitions in the managed print services market.