Managed Print Service (MPS) Market by Deployment (On premises, Cloud Based) By Channel Type (Printer/Copier Manufacturer, Channel Partners/ Core MPS providers, Others), By Enterprise Size (Small and Medium Enterprise, Large Enterprise) By End-user (BFSI, Healthcare, Telecom, Education, Legal, Others) - Global Industry Insights, Trends, and Forecast (2017 - 2025)

Created On: Oct-2018
Report ID: IR304
Format: PDF

Managed Print Service (MPS) Market: Introduction

The managed print service is a service, which are offered by an external provider to manage and optimize the printing of any specific document. The service providers also take care of the maintenance, support and assessment of the printing machines. The managed print service market is anticipated to have significant growth over the projected period, owing to the rising awareness to reduce wastage of paper coupled with the reduction in the cost of operation to meet customized needs.

Reduction in operational and capital costs

The service providers in this market are offering the printing services at low costs, which is driving the current managed print service market. For instance, ISS Solutions provides MPS program, which includes investment plans, these plan helps to recognize the actual cost of printing. Furthermore, the ARC Document Solution offers the managed print solutions that helps to eliminate the hidden printing costs. Therefore, helping in streamline the printing process. Other benefits of these services are, such as time saving, rise in productivity and enhancing efficiency are propelling the managed print service market growth.

Segment Insights

Cloud print deployment is anticipated to hold the major share in the managed print service market. Cloud based print services are the services which routes the printing tasks from devices such as computer, smartphone and transfer to it to internet-connected printer. The growth of cloud-based printing service is attributed to its cost-effective solutions over conventional IT printer as it discourages the complex setup and driver installation.

Large enterprise in enterprise size segment is anticipated to have substantial growth during the forecast period. These enterprises majorly use huge printing machines, owing to which they are largely prone to hardware problems. The necessity for maintenance and assessment of the printing machines in large enterprises would propel the market growth. On the flip side, medium and small enterprises are expected to have significant growth over the forecast period. The growth is due to the rising business activities to make awareness of such services in the medium and small enterprises. For instance, in January, 2018, Xerox partnered with Midwich, which provides cloud-based print services, these partnership aims to provide print service solutions to small and medium enterprises.

BFSI segment stands to hold the major share in the managed print service market over the projected period. This industry highly depends on the record keeping to facilitate their functions. For instance, the financial services and insurance requires a lot of paper work due to regulatory process and record keeping, which is time consuming and incurs huge cost. The managed print services may help in reducing the time and cost, thereby, encouraging the market growth.

Regional Outlook

North America is anticipated to dominate the global managed print service market during the forecast period, owing to the rising awareness amongst the SME and large enterprises towards the adaptation of managed print services. In addition to this, the region embraces the strong foothold of print service companies and copier manufacturers, which is also frosting the managed print services market. Some of the major companies in this region are Xerox Corporation, HP Development Company, L.P., Lexmark International, Inc. and others.

Asia Pacific is expected to have substantial growth in the managed print services (MPS) market over the projected period. The growth is attributed to the rising industrialization in this region, which is creating the necessity for the managed printing solutions to cut the cost of printing.

Competitive Landscape

Key players in the market are Xerox Corporation, Samsung Electronic Co. Ltd., Toshiba Corporation, ARC Document Solution, Ricoh Company, Ltd., Lexmark International Corporation and Kyocera Corporation among others. Mergers & acquisitions, product launch and development., partnership & collaborations are the key undertakings by the companies to expand their businesses. For instance, in July, 2018, Ricoh Company Ltd., announced the established new unit for office printing machines in China. The newly established factory is dedicated towards the manufacturing of office equipment including office printing machines. Moreover, it would also enhance the quality of production by installing robots and factory automation.

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  •  Data Validation
  • Data Analysis
  •  Re-Validation and Finalization of Data
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