Managed Print Services Market size Worth USD 51 billion | MPS Market Global Demand and Growth Forecast | Focusing on Top Key Vendors like - Xerox Corp, Lexmark International Corp, ARC Document Solutions, Inc

Market Highlights:

The global managed print services market is growing rapidly. The increasing demand for cloud computing is propelling the market growth of application development. The big data solutions are likely to continue boosting the growth of the managed print services market during the forthcoming years. For instance, the companies are investing in managed print services, which are widely used for IT & telecommunications industry.

The increasing demand for cloud computing and software as a service are boosting the managed print services market growth to the large extent. The cloud-based print services are gaining momentum among large companies. The cloud services along with the latest multi-functional printers for the integration of paper and digital workflows are widely used among organizations. This helps to reduce the printing office documents cost of up to 40%, improve productivity, and security.

On 17 January 2018, Xerox went into partnership with Midwich to provide managed print services solution in the small and medium enterprise. Midwich is offering cloud-based, managed print services to their customers

On January 30, 2018, Xerox introduced a channel program for the information technology service providers. The company is offering and extending their service of print and workflow solutions.

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Major key Players

Market Research Future (MRFR) recognizes the following companies as the key players in the global managed print services market:

Lexmark International Corporation (U.S.),

ARC Document Solutions, Inc. (U.S.),

Xerox Corporation (U.S.),

HP Development Company, L.P. (U.S.),

Ricoh Company, Ltd. (Japan),

Toshiba Corporation (Japan),

Samsung Electronics Co. Ltd. (South Korea),

Kyocera Corporation (Japan),

Sharp Corporation (Japan),

Konica Minolta, Inc. (Japan),

Wipro LTD (India), HCL Technologies (India), Canon UK Limited (U.K), Seiko Epson Corporation (Japan), Acrodex Inc. (Canada), Systems Technology, Inc. (U.S.), Konica Minolta (U.K) among others.

According to the Market Research Future Analysis, the global Managed Print Services Market is expected to reach USD 51 billion by the end of the forecast period at a CAGR of 9%.

The global managed print services market is segmented into component, deployment, organization size, end users, and region. The component is sub-segmented into hardware, software, services, and others. The hardware is further sub-segmented into copier, fax, printer, and others. The deployment segment is sub-segmented into on-cloud, on-premises. The organization size segment is sub-segmented into small and medium enterprises, large enterprises.  The end-users segment is sub-segmented into BFSI, IT and telecommunications, government, healthcare, and others. The global market is spanned across North America, Europe, Asia Pacific, and rest of the world.

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Regional Analysis

North America is expected to witness a significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of the managed printing services market in North America owing to the presence of a large number of established key players such as Xerox Corporation, ARC Document Solutions, Inc., HP Development Company, L.P., and Lexmark International Corporation among others. Also, U.S. is leading the market in North America due to the rising demand for hybrid deployment of managed printing services in the region. Also, due to favourable government regulations, companies are investing in the North America market, which is expected to help the region to gain the maximum share of the managed printing services market. Managed printing services market in Asia Pacific is expected to grow at a substantial CAGR during 2017 to 2023 due to rise in IT solutions and growing demand for competent technical support in China and India in the region. Whereas, the Europe market for managed printing services is expected to grow at a considerable CAGR (2017-2023).

Intended Audience

• Managed print services companies
• Managed print services providers
• Technical universities
• System integrators
• Managed Security Service Providers
• Professional service providers
• Research and development companies
• Market research and consulting firms
• Solution providers
• Technology standards organizations
• Technology investors
• System Integrators

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