Managed Print Services Market

Managed Print Services Market is predicted to rise at USD 70 Billion by 2027 at a CAGR of 8.2% during the forecast period.

Introduction of the Managed print services Market Report

Managed print services are defined as a program offered by print providers which covers all prospects of business printing devices, including faxes, scanners, copiers, etc. These services are a means of improving productivity and reducing costs by outsourcing the entire print-related services portfolio. Managed print services offer various benefits such as automate supplies, gage expenses, optimized physical workflow, etc. These benefits enhance the managed print service by budget optimization, cost-effectiveness, daily work-flow optimization, etc. Thus, managed print services’ numerous advantages are surging the demand for global manged print services market across the nations.

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Market Dynamic

Key Drivers and Emerging Trends

The factors driving the growth of the global managed print services market size include reduced cost of operation and flexibility to match customer requirements. According to Ingram Micro, one of the leading players of IT products and services, a normal office worker spends more than US$ 725 annually on office printing. With the usage of managed print services, these costs can be reduced by 30%, which is surging the managed print services market’s growth. Furthermore, initiatives from environmental protection agencies for reducing paper waste are also acting as a significant driving factor for the global managed service market’s growth. “Environmental Protection Agency” estimates that on an average individual office worker uses about 27 pounds of paper per year and more than 41 % of the trees are harvested by the loggers for paper manufacturing, this pushes the firms to adopt managed print services leading reduction paper waste and cost at the same time. Thus, the increasing implementation of green initiatives is one of the emerging managed print services market trend that is driving the market growth.

As per the managed print service research report, the managed print services are increasingly used in various industries like BFSI, IT, and other sectors which is one of the major factors contributing to market growth. In IT sector managed services helps in handling the IT functions by taking control over the IT infrastructure and networks of enterprises, which in turn, improves the overall profitability and efficiency.

Restraint in the Managed print services Market

However, doubt in the effectiveness of managed print services coupled with long-term recurring expenditure are the major factors that are hampering the global managed services market’s growth.

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Deployment Type – Segment Analysis

Based on the deployment type, the hybrid cloud-based segment is expected to dominate the overall managed print services market over the forecast period. An increase in demand for hybrid cloud services among all organizations for minimizing the cost of printing is the major factor for the growth of the hybrid cloud-based managed print service. It also reduces the burden and capital expenditure and provides better service.

Application – Segment Analysis

Based on the application, BFSI segment is expected to dominate the global managed print services market over the forecast period. This is due to the wide usage of paper in banks for loan applications, new account openings, and other objectives, which indicates more capital investment on printing devices, fax machines, etc. This project is rapidly growing BFSI segment of the global managed services market.

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Regional – Segment Analysis:

Based on the region, the North America region is expected to capture a significant market share in the global managed print services market. This is due to the strong presence of the key players in the region. For instance, Xerox Corporation, Ricoh, TOSHIBA CORPORATION, etc. present in the region have a strong presence which has raised the demand for the maned services. Furthermore, the developing healthcare industry in the region has created an opportunity for the region, which is further driving the global managed print services market.

Top Market Players

Various notable players operating in the market include Xerox Corporation, Ricoh, HP Development Company, L.P., Konica Minolta, Inc, Canon Inc, Lexmark International, Inc., KYOCERA Corporation, SAMSUNG, SHARP CORPORATION, and TOSHIBA CORPORATION, among others. 

Key Developments:

• • In 2019, TOSHIBA CORPORATION entered into a partnership with Ancora Software. This partnership helped both the players in offering more services to the consumers based on managed print services.
  • In 2017, Xerox Corporation officially announced the Xerox ConnectKey portfolio launch, which offers multi-layered security features. This product launch helped in the expansion of product portfolio of the company.

Segments covered in the Report:

The global Managed print services industry has been segmented based on deployment type, channel type, application, and regions. Based on deployment type, the market is segmented into on-premise, cloud and hybrid cloud based. Based on channel type, the market is segmented into printer/copier manufacturers, system integrators/resellers and independent software vendors. Based on application, the market is segmented into BFSI, government, education, healthcare, telecom & IT, industrial manufacturing, retail and others. 

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Key questions answered in this research report:

• • At what pace is global managed print services market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in managed print services market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global managed print services market?
  • Which deployment type generated maximum revenues in 2019 and identify the most promising deployment type during the forecast period?
  • What are the various channel type areas of global managed print services market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Managed print services Market by Deployment Type

• • On-Premise
  • Cloud
  • Hybrid Cloud Based

Global Managed print services Market by Channel Type

• • Printer/Copier Manufacturers
  • System Integrators/Resellers
  • Independent Software Vendors

Global Managed print services Market by Application

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

Global Managed print services Market by Region

• • North America Managed print services Market (Option 1: As a part of the free 25% customization)
    • North America Market by Deployment Type
    • North America Market by Channel Type
    • North America Market by Application
    • US Market All-Up
    • Canada Market All-Up
  • Europe Managed print services Market (Option 2: As a part of the free 25% customization)
    • Europe Market by Deployment Type
    • Europe Market by Channel Type
    • Europe Market by Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Managed print services Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Market by Deployment Type
    • Asia-Pacific Market by Channel Type
    • Asia-Pacific Market by Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Managed print services Market (Option 4: As a part of the free 25% customization)
    • RoW Market by Deployment Type
    • RoW Market by Channel Type
    • RoW Market by Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Managed print services (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Xerox Corporation
  • Ricoh
  • HP Development Company, L.P.
  • Konica Minolta, Inc
  • Canon Inc.
  • Lexmark International, Inc.
  • KYOCERA Corporation
  • SAMSUNG
  • SHARP CORPORATION
  • TOSHIBA CORPORATION