Managed Print Service Market

Managed Print Service Market Size, Share, Growth (2023-2028)

Managed Print Service market valued around $59,709 million by 2028, growing at a CAGR of 10.3% from 2023-2028. 

Managed Print Service Market Overview:

Managed print services (MPS) are the holistic and efficient management of printing & imaging services and devices like printers, copiers, fax machines, and multifunction devices. These services are often outsourced for vendors with expertise in well-organizing these services.Managed print services are employed to gain visibility and to control the printing infrastructure to support the organizations to save money and raise productivity. These systems are also useful for improving environmental sustainability and security of documents. These managed print services usually begin with the process of gathering the requirements. And the other step of this process is the partial or complete replacement of existing hardware such as scanners, photocopiers, printers, faxes, and multifunction (MFP) devices. And the service providers will supervise and also services hardware and provides parts & supplies. These providers also monitor and report usage, problems, and user experiences.

Recent Developments

• Xerox Corporation has updated on the proposal of its acquisition of HP Inc. as they are going to acquire HP.

• AVX Corporation has announced that it successfully completed its previously announced acquisition by Kyocera Corporation, following the completion of Kyocera's tender offer to purchase all outstanding shares of AVX common stock that it did not already own.

Managed Print Service Market Drivers and Restraints

The growing adoption of big data solutions, initiatives for reducing paper wastage in the workplace, less cost of operation, the surge in productivity & flexibility to match custom requirements, and enhanced information security are the primary drivers for the growth of the Global Managed Print Service market. Also, the persistent rise in the complexity of technological solutions, continuous upsurge in dependency on heterogeneous networks of applications & infrastructure, a steep increase in the adoption of big data solutions are the factors that are supposed to fuel the growth of the Managed Print Service Market during the forecast period. Moreover, the competent technical support by managed print service providers is the factor that is bolstering the adoption of these services.However, new & strategic partnerships and agreements resulting in the recurring cost are expected to hinder the growth of the global managed print services market. Moreover, raised print security spendings and the rise in the adoption of cloud MPS are creating lucrative opportunities for the global MPS market player's expansion.

Managed Print Service Market Segmentation

Managed Print Service Market – By Type

• Print Management

• Device Management

• Discovery & Design

• Document Imaging

Among all of these segments, The device management segment has dominated the managed print services market share for along time. The growth of this segment is estimated to continue this trend over the forecast period owing to the rising adoption of these solutions for optimizing the performances of network printing devices, to escalate the efficiency, and to control the costs of them. In addition, it also allows the network users for effectively sharing these devices while printing and also to help system administrators to achieve enhanced device management efficiency along with the integrated benefit, centralized control. But, the document imaging segment is estimated to witness the highest growth during the forecast period, recording a higher CAGR, because of the rising demand for image capture for significant data handling and analytics in various organizations.

By Size

• Large Enterprises

• Medium Enterprises

• Small Enterprises

By Components

• On-premise

• Cloud-based

• Hybrid

By Channel Type

• Printer/Copier Manufacturers

• System Integrators/Resellers

• Independent Software Vendors (ISVs)

By Application

• BFSI

• Government

• Healthcare

• Education

• Industrial Manufacturing

• Retail

• Food & Beverages

• IT & Telecom

Managed Print Service Market Regional Analysis:

• North America

• Europe

• Asia-Pacific

• South America

• Middle East & Africa

In the regional analysis of the Global Managed Print Service, North America held the significant share of the overall revenue owing to the presence of leading printer/copier manufacturers, favorable government regulations, and a growing number of startups in this region. However, the Asia-Pacific region is anticipated to witness growth, at the highest CAGR due to the continuous rise in the retail & consumer goods startups in the emerging economies like India, China, and Japan.

Managed Print Service market keyplayers: 

1. Xerox Corporation (US)

2. HP Development Company, L.P. (US),

3. Lexmark International Corporation (US),

4. ARC Document Solutions, Inc. (US),

5. Kyocera Corporation (Japan),

6. Sharp Corporation (Japan),

7. Konica Minolta, Inc. (Japan),

8. Ricoh Company, Ltd. (Japan),

9. Toshiba Corporation (Japan),

10. Samsung Electronics Co. Ltd. (South Korea).