Global Managed Print Services Market was valued US$ XX Bn. in 2019 and is expected to reach US$ XX Bn. by 2027, at a CAGR of 9.81 % during a forecast period.
Global Managed Print Services Market
The report study has analyzed revenue impact of the COVID-19 pandemic on the sales revenue of the market leader, market followers and market disrupters in the report and same is reflected in our analysis.
Many Organizations are increasingly implementing one or more green initiatives for the purpose of customer satisfaction and cost savings benefits. They have begun to reduce paper usage in the workplace as a simple, and adopting straightforward and effective path toward more far-reaching sustainability goals. An increase in adoption of big data solutions, initiatives to decrease paper wastage in the workplace, cost reduction of operation, surge in productivity and flexibility to match custom requirements, and enhanced information security are some of the driving factors behind the growth of the global managed print services market. On the other hand, new and strategic partnerships & agreements and recurring cost is expected to limit the global managed print services market growth.
The cloud-based deployment mode is expected to contribute XX% share in the managed print services market. End users are taking more benefits with the cost effectiveness using managed print services. It is changing the aspects of traditional IT model. Cloud-based software is installed on the OEM’s server and can be accessed through a Web browser. Some of the prominent OEM’s are also delivering hybrid deployment, in which cloud software is hosted on an end user’s private servers. Cloud software is priced on a monthly or annual subscription. With the cloud-based systems, organizations are paying an additional overhead cost.
The BFSI industry is expected to grow at a XX% rate of CAGR during the forecast period. The banking, financial services, and insurance (BFSI) industry is heavily dependent on record-keeping to function. Papers are widely used in for loan applications, new account opening, mortgages, and several other purposes, that are expected to lead the high investment cost in resources. There is a requirement for technology and automation to control the extra costs and rationalize the overall printing process in the BFSI industry. It is one of the most sensitive industries in terms of customer information, and secured printing is the integral requirement of the industry. Managing print services are expected to help in assessing the actual cost incurred for different print applications to keep track of printing environment and reducing wastage.
Small and medium scale enterprises across the globe are increasingly adopting cloud-based MPS because of the budget constraints. MPS is also assisting SMEs in reducing printing costs and optimizing the use of resources. Also, governments are providing incentives, favorable tax regulations, and easy access to loans to support the growth of SMEs. Several governments are also delivering educational programs and coaching to SME owners to help in business expansion. An increasing digitization has increased the adoption of MPS by SMEs. It is encouraging key players in the market to introduce cloud-based managed print services. The rise in adoption of MPS by SMEs is one of the key drivers in the managed print services market growth.
The North America is estimated to hold the dominant position during the forecast period. The presence of the healthcare and government industry in the U.S. has aggressively adopted the managed print services. Also, the strategic acquisitions and new program launched to create awareness of managed print services is also expected to increase the demand during the forecast period. The presence of a high number of end-user enterprises from the BFSI, IT, healthcare, education, and other sectors and requirement to reduce overall printing costs and monitor overall print activities are driving the managed print services market growth in the region. Furthermore, Asia Pacific market was valued at US$ XX Mn in 2019. The growth in the region is attributed to rising retail & consumer goods startups across the countries like China, India and Japan. An increase in adoption and awareness in the education and healthcare applications are expected to boost the regional market growth.
The objective of the report is to present a comprehensive analysis of the Global Managed Print Services Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Managed Print Services Market dynamics, structure by analyzing the market segments and projects the Global Managed Print Services Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Managed Print Services Market make the report investor’s guide.
Scope of the Global Managed Print Services Market
Global Managed Print Services Market, By Type
• Print Management
• Device Management
• Discovery and Design
• Document Imaging
Global Managed Print Services Market, By Deployment Type
• Cloud
• On-Premise
Global Managed Print Services Market, By Organization Size
• Large Enterprises
• Medium & Small Enterprises
Global Managed Print Services Market, By End User
• BFSI
• Government
• Healthcare
• Education
• Industrial Manufacturing
• Retail
• Food & Beverages
• IT & Telecom
• Others
Global Managed Print Services Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Managed Print Services Market
• Lexmark International, Inc.
• Kyocera Corporation
• Samsung Electronics Co., Ltd.
• Sharp Corporation
• Toshiba Corporation
• ARC Document Solutions, Inc.
• Xerox Corporation
• Ricoh Company, Ltd.
• HP Development Company, L.P.
• Konica Minolta, Inc.
• Canon, Inc.
• Pitney Bowes
• Wipro Limited
• Print Audit
• Ingram Micro Inc.
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