According to a report by Grand
View Research, Inc., global Managed Print Services (MPS) Market is anticipated to value USD 49.7 billion by
2025. Growing requirement to reduce wastage of paper to print documents and
operational cost in organizations is anticipated to propel demand for managed
print services. Such services can help reduce number of local printers, replace
inefficient devices by analyzing printing needs, and remote printing
operations. In addition, MPS can also track and manage complete document
environment.
Growing security concerns
related to data and important information in organizations is expected to
influence demand for managed print services. Growing adoption of advanced
technologies such as cloud computing and analytics is anticipated to fuel
growth of market. Government regulations to reduce paper wastage and save trees
for better environmental conditions globally can stimulate market growth during
the forecast period (2014 to 2025).
The managed print services
market can be segregated on the basis of channel, deployment, organization,
application, and region. Based on channel, the market can be categorized into
system integrators, independent software vendors, and printers/copiers
manufacturers. In 2016, printer manufacturer segment accounted for largest
market share. Prevalence of printer/copier manufacturer, supportive government
regulations, and increasing number of startups can stimulate market growth.
On the contrary, system
integrators segment is likely to expand at CAGR of 7.1% during the forecast
period. It’s a channel type that can market printer/copier manufacturer and
other offers.
Based on deployment, the
market can be classified into cloud-based, on premises, and hybrid. In 2016,
cloud based deployment segment dominated the market and accounted for 40% of
overall market. End-users are likely to benefit from cost-effective managed
print services. These benefits can change aspects of IT model. Cloud based
server can be installed easily on OEM server and accesses through web browser.
It can be priced on monthly and annual basis with additional recurring fees for
training and support.
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Research Report on Managed Print Services Market:
In addition, hybrid deployment
mode is predicted to grow at highest CAGR of 7.1% during the forecast period.
It is likely to offer both on premise and cloud based deployment modes. Hence,
few services are hosted locally (on premises) and other are hosted by cloud
service providers.
Based on organization, the
market can be bifurcated into large enterprises and small & medium
enterprises. In recent years, large enterprises segment dominated the market.
It is expected to bode well for MPS market and grow at phenomenal CAGR of 6.7%
during the forecast period. Increasing cases of malware, spams, attack, threat,
and other exposures in large enterprises can boost demand for MPS.
In addition, small and medium
enterprises can also contribute well in market share during the forecast
period. Competitive attractiveness from several market entrants and rising
security concerns are anticipated to propel demand for MPS in small and medium
enterprises.
Based on application, the
market can be segmented into government, education, healthcare, BFSI,
industrial manufacturing, retail & consumer goods, telecom & IT, and
others. In 2016, Banking, Financial Services, and Insurance (BFSI) segment
dominated the market and accounted for largest market share equivalent to USD
6718.5 million. BFSI sector is likely to involve files and lots of paperwork
demanding privacy and security. MPS can help maintain required security and
privacy of such documents.
Regional segmentation includes
North America, Asia Pacific, Europe, South America, and Middle East &
Africa. In 2016, Asia Pacific dominated the market and accounted for market
share equivalent to USD 4011.8 million. Growing number of consumer goods and
retail startups in countries such as India, China, and Japan can stimulate
growth of market in the region. In addition, increasing adoption of managed
print services in countries such as Singapore and Australia attributed to
growing awareness in healthcare and education applications can fuel growth.
Similarly, North America is
predicted to contribute well for market growth owing to increasing adoption of
MPS in government and healthcare sector of United States (U.S.). In addition,
launch of new programs and strategic acquisitions to create awareness of
managed print services can augment market growth during the forecast period.
Some of the leading companies
offering managed print services are Lexmark, Xerox Corporation, Hewlett-Packard,
Canon, and Ricoh.
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category by Grand View Research at
Grand View Research has segmented the
managed print services market report on the basis channel, deployment,
organization, application and region:
Managed Print Services Channel Outlook (Revenue, USD Million, 2014
- 2025)
·
Printers/Copiers Manufacturers
·
System Integrators
·
Independent Software Vendors
Managed Print Services Deployment Outlook (Revenue, USD Million,
2014 - 2025)
·
On Premises
·
Cloud based
·
Hybrid
Managed Print Services Organization Outlook (Revenue, USD Million,
2014 - 2025)
·
Small and Medium Enterprises
·
Large Enterprises
Managed Print Services Application Outlook (Revenue, USD Million,
2014 - 2025)
·
BFSI
·
Education
·
Government
·
Healthcare
·
Industrial Manufacturing
·
Retail & Consumer goods
·
Telecom & IT
·
Others
Managed Print Services Regional Outlook (Revenue, USD Million, 2014
- 2025)
·
North America
o U.S.
o Canada
o Mexico
·
Europe
o UK
o Germany
o France
o Italy
o Rest of Europe
·
Asia Pacific
o China
o India
o Japan
o Rest of APAC
·
South America
o Brazil
o Rest of South America
·
Middle East & Africa
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research report by Grand View Research:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials, and healthcare.
