Managed Print Services involves centralization, optimization and management of all aspects of printing devices in an organization through a single program offered by print providers. The global managed print services market is anticipated to generate USD 51.0 billion at a CAGR of ~9% by the end of forecast year of 2023.
Attractive economics of optimizing of all devices such printers, scanners, faxes and copiers, under a single platform results in savings, printer fleet reduction produce less paper waste which results in increased efficiency. Other advantages such as reduction in total cost of ownership (TCO), eliminating unnecessary devices, reduced print volumes, and others. Crucial advantages such as improved security due to built-in user authentication, activity tracking and insights into customers’ print activities data analysis result in wealth of business information. Control and accountability by allowing access only to authorized personnel’s, encryption, and others. Development of cloud and software as a service has provided an additional benefit of remote management and access coupled with faster service areas and new markets expansion. The development of cloud is expected to reduce the printing office documents cost of up to 40%. The advent of big data is the critical market opportunity driving factors of the managed print services market.
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17 January 2018 – Xerox enetered into partnership with Midwich which offers cloud-based, managed print services, to provide managed print services solution in the small and medium enterprise.
January 30, 2018 – Xerox launched a program for the information technology service providers.
Major Key Players:
Xerox Corporation (U.S.),
Lexmark International Corporation (U.S.),
Systems Technology, Inc. (U.S.),
Acrodex Inc. (Canada),
ARC Document Solutions, Inc. (U.S.),
Ricoh Company, Ltd. (Japan),
HP Development Company, L.P. (U.S.),
Sharp Corporation (Japan),
Toshiba Corporation (Japan),
Samsung Electronics Co. Ltd. (South Korea),
Kyocera Corporation (Japan),
Konica Minolta, Inc. (Japan),
HCL Technologies (India), Wipro LTD (India), Canon UK Limited (U.K), Seiko Epson Corporation (Japan), and Konica Minolta (U.K) and 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.
The global managed print services market is consists of the Americas, Europe, Asia Pacific, and Rest of the world. North America is dominating the global managed print services market. The managed print services market is witnessing the high growth due to increasing demand for cloud-based services among various end users including BFSI, IT and telecommunications, media and entertainment, healthcare, and among others. Europe is projected to hold the second largest share of the global managed print services market during the forecast period due to increasing demand for low cost priniting services. Asia Pacific is expected to witness the highest CAGR in the coming years.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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- 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