Managed Print Services Market Highlights
The research report on the managed print services market provides a detailed historical review of the managed print services along with a detailed analysis of the microeconomic and macroeconomic factors affecting the market the most. The major drivers and restraints for the global managed print services market are profiled in the report, thus providing readers with a clear picture of what is making the managed print services market move.
The Global Managed Print Services Market is projected to grow at a CAGR of 9%. It is estimated that the market will further expand and will reach up to 51 Billion during the forecast period. The major drivers of the market growth are the rising demand for advanced technologies such as software as a service and cloud computing. The advanced technological upgrade is improving the market growth significantly.
Market Boosters and Key Restraints
The size of the managed print services market is set to expand in the coming years, on account of rising need to bring down the cost of operations and elevate the convenience in providing customized services. Managed print services help gather hindsight for businesses to collect the skillset as well as the expertise needed for curbing the risk, complexity, and cost of the unorganized infrastructure. These services also help gain visibility and control document processes, which saves time, augment productivity, enhances security and sustainability and automates further steps.
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Leading Companies
The players that are leading the worldwide market for managed print services are Sharp Corporation (Japan),Konica Minolta (U.K),Lexmark International Corporation (U.S.),Canon UK Limited (U.K),Toshiba Corporation (Japan),Kyocera Corporation (Japan),Systems Technology, Inc. (U.S.),ARC Document Solutions, Inc. (U.S.),HCL Technologies (India),Samsung Electronics Co. Ltd. (South Korea),HP Development Company, L.P. (U.S.),Acrodex Inc. (Canada),Ricoh Company, Ltd. (Japan),Konica Minolta, Inc. (Japan),Xerox Corporation (U.S.),Seiko Epson Corporation (Japan),Wipro LTD (India)
Regional Analysis
The global managed print services market has been regionally split into Asia Pacific (APAC), Europe, North America, and the Rest of the World (RoW).
North America is the most profitable market for managed print services, thanks to the soaring demand for cloud-based services across large enterprises. In addition, most of the esteemed copier and print manufacturers are based in North America, which enhances the revenue potential of the market.
APAC is estimated to attain the highest growth rate during the conjectured time frame, on account of the quickly rising number of small & medium-sized businesses among others. Amplifying demand for managed application services in the BFSI sector benefits the regional market as well. Executives across the region face issues related to data security, as it directly affects their brand reputation. These data security issues call for managed print services, increasing their demand in the region. The surge in cybercrime activities, high adoption of mobile devices for accessing the corporate network, and surging importance of e-business are projected to boost market demand in the ensuing years.
A number of countries in Europe like France, the United Kingdom (U.K), and Germany are emerging as lucrative markets for managed print services. The regional market is also progressing as a result of the intensifying demand for multi-functional printers as well as cloud-based services.
Segmentation:
The Managed Print Services Market Segments are divided into deployment, end-users, component, and organization size.
The Managed Print Services Industry on the basis of organization size is further divided into large enterprises and medium and small enterprises.
On the basis of components, Managed Print Services Industry is further divided into software, hardware, services, and others. The hardware segment is again divided into the printer, copier, fax, and others.
On the basis of end-users, the Managed Print Services Industry is bifurcated in telecommunications, healthcare, BFSI, government, IT, and others.
Based upon deployment, the Managed Print Services Industry is again divided into on-premise and on-cloud.
Recent News
September 2019
Flex Technology Group (FTG), a leading managed print services provider, has announced the opening of four new office locations across the United States (U.S). These locations include Texas, California, Dallas, Connecticut, New Haven, Arizona, Chico, and Mess.
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Global Managed Print Services Market Research Report: By Component (Hardware), Deployment (On Cloud), Organizations Size (SMB), End-Users (Telecommunications) – Forecast Till 2023
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