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Managed print services (MPS) are services provided to maximize or monitor a company's paper production by an external provider. It helps companies handle print devices such as printers, fax machines, copiers, and computers that have multifunction. Given that Managed Print Service system helps save time and money, vendors are also outsourced to streamline print operations. Managed Print Service (MPS) enables companies to establish a cost-effective and well maintained imaging and printing network. Managed Print Service is based on IOT and Big Data Solutions.
Cloud Based Managed Print Service
Cloud-based deployment mode is projected to hold the largest share of the market for Managed Print Services over the forecast period. High cost-effectiveness with the implementation of managed print services is changing the facets of the traditional IT model. Cloud-based deployment holds the highest market share, as it provides companies with remote access to their cloud documents and data, while hybrid deployment mode is expected to be one of the fastest-growing deployment mode in the coming years.
The adoption of big data solutions, initiatives to minimize paper waste in the workplace, lower operational costs, increased efficiency, and flexibility to meet custom requirements and enhance information security, complements the growth of the MPS market in the main.
Due to increased adoption of these solutions to optimize the performance of Managed Printing Devices and to maximize efficiency with controlling the costs, Managed Print Service is expected to continue this trend during the forecast period. It also allows network users to more effectively share devices when printing, and also helps system administrators achieve enhanced device management efficiency with integrated, centralized controls. However, document imaging is expected to witness the highest growth rate during the forecast period due to an increase in demand for image capture in many organizations for big data handling and analytics.
There are certain restraints and challenges that will restrict the market growth of managed print services. Factors such as low efficiency and efficacy of managed print services decrease the quality and take longer. In addition, decreasing volumes of printing at a steady pace constantly hampers overall market growth. Other factors such as recurring long-term expenditure and high maintenance are the potential restraints.
The global Managed Print Services Market is segmented based on channel type, deployment mode, industry verticals and organisation size.
Based on Deployment Mode, the market is bifurcated into On-Premises, Cloud-Based and Hybrid. The fastest-growing deployment mode on the market is expected to be hybrid deployment, as it offers mixed advantages of cloud-based systems and on premise deployment. A user can enjoy services that are hosted locally or on-site, and some services managed by cloud service providers, in a hybrid deployment.
Based on Channel Type, the market is divided into Printer/Copier Manufacturers, System Integrators/Resellers and Independent Software Vendors. Due to the increasing use of analytics and cloud computing technologies in printing and organizations realizing the importance of Managed Print Service in the segments of printer / copier manufacturers, the printer / copier manufacturers are estimated to hold the biggest market share.
Based on Industry Vertical, the market is segmented into Banking, Financial Services, and Insurance (BFSI), Education, Industrial Manufacturing, Healthcare, Telecommunications and IT and Others. Due to the extensive use of papers for loan applications, mortgages and new account opening resulting in high investment cost in resources, the BFSI industry is predicted to hold the most significant CAGR in the forecast period. The BFSI sector has huge printing demands to deliver secure benefits in data access, creating opportunities for Managed Print Service growth.
The global market for managed print services is geographically segmented into
Overall, North America dominated the MPS and holds the largest market share. This is due to factors like the presence of leading manufacturers of printers / copiers, favorable government regulations and a rise in the number of start-ups in this region. In addition, the U.S. has widely adopted the Managed Print Services in the healthcare and government industries that fuel the growth of the market for Managed Print Services.
However, the Asia-Pacific region is expected to grow at the highest CAGR due to a steady rise in retail & consumer goods start-ups across countries like India, China and Japan.
Key players in the global market for Managed Print Services include
Timeline Considered for Analysis:
- 2019: Base Year
- 2020: Estimated Year
- 2020 to 2025: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyses the global managed print service market by the following segments:
- Channel Type
- Deployment Mode
- Industry Verticals
- Organization Size
Customization: We also offer customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Managed Print Service Industry Report
The report offers a comprehensive insight on the Managed Print Service (MPS) Market share, competitor landscape, market trends, growth, revenue, and key driver’s analysis with coverage of key players, top geographies, product types and end user.
Exhaustive secondary research and in-depth primary interviews with industry experts has been conducted to present qualitative and quantitative insights in the report.
We offer customizations as per client’s specific needs.