Managed Print Service (MPS) Market - Global Size, Share, Trends, Growth and Forecast Year to 2032
Managed Print Service Market Overview and Definition
Managed Print Services (MPS) refers to a service offering that encompasses the management, maintenance, and optimization of a company's document output devices, including printers, copiers, fax machines, and multi-function devices. The goal of MPS is to improve the overall efficiency, security, and cost-effectiveness of a company's printing operations. An MPS provider typically assumes responsibility for purchasing, deploying, and maintaining the company's print devices, as well as managing its print-related supplies, such as toner and paper. MPS providers also offer various value-added services, such as print cost analysis and reduction, print security, and print workflow optimization. The global managed print services market has been growing due to increased demand for cost-effective and efficient printing solutions from organizations of all sizes.
Managed Print Service Market Drivers
The following are the key drivers of the managed print services (MPS) market:
- Cost savings: MPS can help organizations reduce their printing costs by optimizing their printing fleet, reducing waste, and increasing overall efficiency.
- Increased efficiency: MPS providers can help organizations streamline their printing operations, improving overall efficiency and productivity.
- Security: MPS providers can help organizations improve the security of their printing operations, reducing the risk of sensitive information being compromised.
- Environmental sustainability: MPS providers can help organizations reduce their carbon footprint by promoting more sustainable printing practices, such as double-sided printing and the use of recycled paper.
- Technology advancements: The continued development of new printing technologies, such as cloud printing and mobile printing, has increased the demand for MPS solutions.
Managed Print Service Market Challenges
The following are some of the key challenges faced by the managed print services (MPS) market:
- Resistance to change: Some organizations may be resistant to change and may not see the value in switching to an MPS solution, leading to slow adoption.
- Complex pricing structures: MPS solutions often have complex pricing structures, which can be difficult for organizations to understand and make informed decisions about.
- Integration with existing systems: Integrating an MPS solution with an organization's existing systems and processes can be a challenge, requiring significant time and resources.
- Competition from in-house solutions: Some organizations may opt to manage their printing operations in-house, rather than outsourcing to an MPS provider, which can limit the growth of the MPS market.
- Limited vendor options: The MPS market is dominated by a few large players, which can limit the options available to organizations and limit innovation in the market.
- Technical issues: Technical issues, such as device failures and compatibility problems, can arise with MPS solutions, which can impact the overall satisfaction of customers and lead to lower adoption rates.
Managed Print Service Market : Report Scope
Base Year Market Size
Forecast Year Market Size
Managed Print Service Market Segmentation
The managed print services (MPS) market can be segmented based on the following criteria:
- Service Type: MPS solutions can be divided into hardware-focused solutions, which primarily focus on providing and maintaining printing devices, and software-focused solutions, which primarily focus on optimizing and managing the printing process.
- End-user Industry: MPS solutions are used by a wide range of industries, including healthcare, financial services, government, education, and others.
- Organization Size: MPS solutions can be segmented based on the size of the organization they serve, including small and medium-sized enterprises (SMEs) and large enterprises.
- Geography: The MPS market can be segmented based on geography, including North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Delivery Model: MPS solutions can be delivered through various models, including on-premises solutions, cloud-based solutions, and hybrid solutions, which combine both on-premises and cloud-based solutions.
Managed Print Service Market Regional Outlook
The managed print services (MPS) market has a global reach, with strong growth in several regions, including:
- North America: North America is a mature market for MPS, with a high adoption rate and a strong demand for cost-effective and efficient printing solutions.
- Europe: Europe is a growing market for MPS, with a focus on sustainability and the implementation of new printing technologies.
- Asia-Pacific: The Asia-Pacific region is a rapidly growing market for MPS, driven by the increasing adoption of new technologies and the growth of small and medium-sized enterprises (SMEs).
- Latin America: Latin America is a developing market for MPS, with a growing demand for cost-effective printing solutions and a focus on improving overall efficiency.
- Middle East and Africa: The Middle East and Africa is a developing market for MPS, with a growing demand for efficient and secure printing solutions.
Managed Print Service Market Key Players
The following are some of the key players in the managed print services (MPS) market in the United States:
Brother International Corporation
Dell Technologies Inc.
Lexmark International Inc.
Konica Minolta Inc.
Ricoh Company Ltd.
Epson America Inc.
Sharp Electronics Corporation
These companies offer a wide range of MPS solutions, including hardware and software-based solutions, and serve organizations of all sizes across various industries. These companies have strong brand recognition, a large customer base, and a strong presence in the US market, which gives them a competitive advantage.