Managed Print Services Market – Overview:
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.
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%.
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 authorize 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.
Major Key Players:
Some of the dominant players in the global managed print services market are Xerox Corporation (U.S.), Lexmark International Corporation (U.S.), HCL Technologies (India), 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), Systems Technology, Inc. (U.S.), Wipro LTD (India), Canon UK Limited (U.K), Seiko Epson Corporation (Japan), and Konica Minolta (U.K) and others.
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Latest Industry News:
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.
North America, led by the U.S. accounts for the largest market share for the managed print services owing to increasing demand for cloud-based services, large services industry, presence of large players and others. European region is led by Germany, France and the U.K. owing to increasing demand for multi-functional printers. Europe is expected to be the fastest growing region. Asia Pacific region is expected to be dominated by China, Japan, and India owing to their large economy, fast developing industrial sector and the growing information technology sector. The Middle East and Africa market is expected to be dominated by the Gulf economies of Saudi Arabia, UAE and others.
To generate a comprehensive view of the market the global managed print services market is segmented by component, deployment, organization size, end users, and region.
Component – hardware (copier, fax, printer, and others), software, services, and others. The hardware is further segmented into.
Deployment – on-cloud and on-premises.
Organization size – small & medium enterprises, and large enterprises.
End-users – BFSI, IT and telecommunications, government, healthcare, and others.
Regions – North America, Europe, Asia Pacific, and rest of the world.
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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